What are good odds in football betting? action

What are Good Odds in Football Betting?

By Dan Tracey - Nov 11th 2022

If you are reading this article, you have likely asked yourself this eternal question, what are good odds in football betting? While if you are yet to find the answer for yourself, will now look to solve this conundrum once and for all.

Because when it comes to football betting good odds, it really is a numbers game and one where the higher number, is not always the best. For the simple reason that if something is priced at 101.00, it is rather unlikely that such an outcome then unfolds.

AVOID THE TRAPS

Which admittedly is a trap that many punters fall into. The lure of big odds is not the same as the lure of good odds and especially when it comes to the weekend warriors who love to place a Saturday accumulator.

Bookmakers Love It When Punters Fall Into Their Trap

Let’s be honest, we’ve all been there. The 12-fold accumulator that creates a betting slip longer than your average piece a loo roll. £1 as the stake money, Soccer Saturday on the TV as you are spending the odds of 292.00 in your head.

However, the prospect of 12 football results going your way, are the reason odds of 292.00 have been offered in the first place. In this case, lots of reward and lots of risk to go with it, cannot be considered as good betting practice.

What are good odds when it comes to an accumulator? Ultimately it depends on how many matches are on your slip to start. Our recommendation is five and the sweet spot when it comes to good odds is anywhere between 9.00 and 11.00.

Here the balance between risk and reward is much more palatable and the reason for this, is because you are asking for less fortune to come your way.

We can better explain this by looking at two different accumulators.

First, we shall take a look at bad odds:

Manchester City to beat Brentford – 1.12
Bournemouth to beat Everton – 2.75
Liverpool to beat Southampton – 1.25
Nottingham Forest/Crystal Palace Draw – 3.10
Tottenham to beat Leeds – 1.57
West Ham/Leicester Draw – 3.40
Newcastle to beat Chelsea – 2.30
Wolves to beat Arsenal – 1.55
Brighton to beat Aston Villa – 1.80
Fulham to beat Manchester United – 1.83
Total Odds – 753.53/1

Sounds good doesn’t it. However, the Premier League can be an incredibly difficult league to read at the best of times and for all 10 results to go your way, lady luck is really going to have to be shining on you.

MAKE YOUR OWN LUCK

Whereas, if we look at good odds, an accumulator should look like this:

Manchester City to beat Brentford – 1.12
Liverpool to beat Southampton – 1.25
Nottingham Forest/Crystal Palace Draw – 3.10
Tottenham to beat Leeds – 1.57
Wolves to beat Arsenal – 1.55
Total Odds – 10.61/1

Admittedly the odds are far less than the first example and you may ask yourself, what is the point of making this bet when compared with the bigger prize above. However, this one has a far greater chance of getting over the line. Rather than a far greater chance of you handing your money over.

Leave Luck Behind And Learn To Find Better Odds

Of course, you may look at the example of good odds and see that some of the offerings on an individual basis are on the rather skinny side. Which begs another question, what are good odds when making a single bet?

If we take the Manchester City vs Brentford encounter at the Etihad, we can see that a home win at odds of just 1.12 cannot be constituted as good odds. Although Pep Guardiola’s men will likely come out on top, there is nothing in the way of value.

While the same could be said for Liverpool to get the better of Southampton, Tottenham handing out defeat to Leeds or Wolves to suffer a loss at the hands of Arsenal. If you are backing one of these outcomes, you are stepping back in the territory of bad odds.

In instances such as this, it is value that you are looking for. Not only to add more money to your bankroll but also because you are looking to generate a long-term edge over the bookmakers. Win with value bets and you can absorb your losses far easier.

FINDING THE EDGE

For example, if you only ever placed single bets, then the magic number in terms of good odds is 2.00. A value that is akin to doubling your money with a winner. While if you place two bets at this value and win only one, you will still break even.

If you bet £10 on Team A to beat Team B at odds of 2.00 and Team A win = £20
If you bet £10 on Team C to beat Team D at odds of 2.00 and Team D win = £0

Which means a total outlay of £20 and total winnings of £20. You may not have bashed the bookies, but you have not lost anything either. While the reason for this, is because you have placed value bets at good odds.

Finding An Edge Is Vitally Important

At these odds, you only have to be on top 51% of the time to gain an edge over the bookmakers. If you placed 100 bets at odds of 2.00, only 51 of them would need to get over the line for your system to be profitable.

Find bets at 3.00 and the percentage moves down to 34%, find bets at 4.00 and it moves even further downwards to 26%. Whereas if you bet on matches at odds of 1.50, you would need to win 67% of the time to eventually find a profit.

Anything less than 2.00 must be considered bad odds in the long run and with the house having a habit of winning in the end, they certainly will if your system is steeped in bets that are continually less than evens.

Ultimately, you need to remember one simple principle. Anything too high in terms of odds and you may as well hand over your money to the bookmakers and say thanks for the opportunity. Anything to low in the long-term and you will never be able to make this pastime into a profitable venture

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