One of the fundamental elements of online betting is odds and today we bring you information regarding our odds difference indicator. You must have a good understanding of odds, how they work, and what they mean when placing a bet. If you place a bet in advance of an event taking place, the odds can change right up until the event starts. That is what our odds difference indicator online will show you and it is especially useful when playing our Tipsters League.
1. What Are Betting Odds?
In their simplistic form, betting odds are a way to calculate how likely it is something will happen. You can predict what will happen by betting on the odds and if you are correct, you win money. Using fractional odds as an example, a potential outcome can be listed as 4/1. This means, according to the sportsbook, there is a 20% chance the outcome will happen. This can be worked out using this calculation: 1 / (4 + 1) = 0.20 x 100 = 20%
In terms of potential winnings, at odds of 4/1, for every €/£1 you bet, you will win €/£4. Odds are also commonly available as decimals, such as 4.0. When betting on decimal odds, you can work out your potential winnings easily. If you were to bet €/£10, you can multiply that by 4 and deduct €/£10 to find out your potential winnings. So, 4.0 x €/£10 stake – €/£10 = €/£30.
1.1 How Betting Odds Are Calculated
Online sportsbooks calculate odds by considering several factors, including historical performance, the value of winning for each competitor, head-to-head performance, current injuries, weather, home/away performance, and conditions of the playing surface. Based on this information, a sportsbook can create betting odds for a sporting event.
Now you know how betting odds work, let us take a closer look at our betting odds difference free indicator. ABut don't forget about other great features we have for you. For example, you can use our online betting calculator web app that helps you predict your profit based on your bets and predictions.
2. What is ODI - How to use it?
Our betting odds change indicator shows the difference between the odds of an outcome for an event when a tip was first published in the Tipsters League and the odds for the same outcome at the moment the event started. You will see the term ‘ante-post odds’ or ‘futures’ used in sports betting and that refers to the odds available long before an event begins.
In most cases, the odds even a few days before an event begins are going to be different to the odds at the moment the event starts. The difference between these two sets of odds is what the online odds differences indicator will show you and it is free to use when playing the Tipsters League. If you want to learn another approach to analysing odds, take a look at our guide to comparing betting odds published in the related article.
3. Benefits of Odds Difference Indicator
The betting odds difference index is easy to use but you may be wondering how to benefit from the odds difference indicator. The main benefit of using the odds difference indicator is to understand how tipsters make good betting picks. For example, if you can choose a potential outcome at odds of 4/1 and by the time the event begins, the odds have dropped to 2/1, you know you have placed your bet at the right time. The odds of 4/1 are a lot better than the odds of 2/1 and the odds difference indicator will show that information.
If you are playing in the free Tipsters League or using the tips from the Tipsters League to place your bets, you want to know you are getting the best value odds. If a tipster is consistently making winning tips at odds that have dropped prior to the event start, it is good news. Our odds difference indicator will help you to notice these trends and see who is making good tips, at the best odds.