Beginner’s guide to betting on football
Football is arguably the most popular sport to bet on in the world, with a remarkable 40 per cent of all money staked by bettors spent on the beautiful game.
This is why it is vital that you, the punter, knows all the key features of the football markets.
The huge volume of matches has helped the industry to grow and to allow bettors to place a wager on a whole host of markets, with many betting sites offering special deals and competitive odds.
Here, we run you through what you need to know about football betting so you can cut through the confusion surrounding the markets.
A brief introduction to how betting works
Odds are set by a bookmaker and represent the ratio between the stake and winnings on a given outcome, should you wish to place a bet on it. They are usually shown as decimals (2.00) . For example, if the outcome of an event has odds of 2.00, it means you will win N20,000 for every N10,000 you bet, that’s 10,000 stake multiply by 2.00 Odds= N20,000 won.
Before venturing into Betting, you have to know the what, the why and the how in betting. These are explained below:
- Favorites and Underdogs
When oddsmakers release a betting line on a game, the first thing they do is decide which team should be the favorite and which should be the underdog.
The favorite is the team that is expected to win the game while the underdog is expected to lose.
The favorites are given smaller Odds while the Underdogs are given higher Odds. For example, in the game Chelsea vs Watford, Chelsea is considered the favorites while Watford is the underdog.
- Overs/Unders (Totals)
Oddsmakers set a total number of goals scored in a game by both teams combined. This is called the total or over/under.
Bettors can then wager on whether or not the game will go Over or Under the total.
The most popular in football is Over 2.5 and Under 2.5.
For example, in the Chelsea vs Watford game, if you bet Over 2.5 Goals, it means the game must end with at least 3 Goals for your bet to win.
If you bet Under 2.5, it means the game must end below 3 Goals for your Bet to win.
Take at the table below
OVER 0.5
0 Goal= LOST
1 Goal & Above= WON
UNDER 0.5
0 Goal= WON
1 Goal & Above= LOST
OVER 1
0 Goal= LOST
1 Goal= VOIDED
2 Goals & Above= WON
OVER 1.5
0 – 1 Goals= LOST
2 Goals & Above= WON
UNDER 1
0 Goal= WON
1 GOAL= VOIDED
2 Goals & Above= LOST
UNDER 1.5
0-1 Goals= WON
2 Goals & Above= LOST
OVER 2
0-1 Goals= LOST
2 Goals= VOIDED
3 Goals & Above= WON
OVER 2.5
0-2 Goals= LOST
3 Goals & Above= WON
UNDER 2
0-1 Goals = WON
2 Goals= VOIDED
3 Goals & Above= LOST
UNDER 2.5
0-2 Goals= WON
3 Goals & Above= LOST
OVER 3
0-2 Goals= LOST
3 Goals= VOIDED
4 Goals & Above= WON
OVER 3.5
0-3 Goals= LOST
4 Goals & Above= WON
UNDER 3
0-2 Goals= WON
3 Goals= VOIDED
4 Goals & Above= LOST
UNDER 3.5
0-3 Goals= WON
4 Goals & Above= LOST
Note: When a bet is VOIDED, it means you didn’t lose and you didn’t win, your stake is refunded back to you.
- How Much to Bet
You have the final say on how much to risk on a game, but a good rule is risk only what you can afford to lose.
Sports betting is a marathon, not a sprint. There will be good days and bad days. As a result, we recommend a flat-betting approach.
This means betting the same amount on every game and risking only 1% to 5% of your bankroll per play (the bankroll is the starting amount you have at your disposal to bet with). For example, if you are starting with a bankroll of N50,000, you should risk no more than N2,500 per game.
By employing a flat-betting approach, bettors guard themselves against losing their entire bankroll during a bad stretch, but also set themselves up for a positive return on investment (ROI) when they’re doing well
- Shop for the Best Odds
Odds can vary based on the sportsbook, because different bookmakers have different clienteles.
As a result, 1xBet may post Chelsea to win @1.70 Odds while Betway has it @1.65 Odd. Obviously you will go for 1xBet because it has higher Odds.
Having access to more than one Bookmaker allows you to shop for the best Odds. Getting an extra half-point might not seem like a huge deal, but it adds up over the long haul and increases your chances of winning.
- Identify Your Strengths and Weaknesses
Know your limits. Do you win more from betting on Straight winnings or Overs and Unders or Corner Betting or FT Draws or HT Draws?
Just focus on your strength.
- Choose a Bookmaker
The following rules will help you choose the ideal Betting site:
- check the betting offers: what kind of bets do they allow?
- Bonuses: Does the website have a loyalty program or welcome bonuses for you?
- The interface: Is the website easy to use and available for all kinds of electronic devices?
- Funding and withdrawing: Is the website as fast at depositing as it is at withdrawing your winnings?
- Reputation: How trustworthy is the Bookmaker?
- Customer first: Is there a 24×7 customer service helpline for any troubleshooting needs?
- Currency to be used: Always check if you can use your local currency.
- Language available: You need to be able to understand the Odds, so settle for nothing less than English.
After choosing your ideal Bookmaker, the final thing is to Register, fund your account and start Betting.
That’s it. You are now equipped with the knowledge to venture into the Betting world.
Goodluck!
