3 Factors that Adjust Betting Odds
Information surrounding bookmakers often sparks curiosity and questions from players, especially regarding the odds set by reputable betting houses and how they profit from them. If you share these common inquiries, let's explore the following article to provide answers and jackpot soccer tip right away!
Over/Under Betting is one of the most popular betting types today. Do you know about this football betting market? In the following article, let's delve into the concept of Over/Under (O/U) in football and how to interpret these odds.
What is Over/Under Betting?
Over/Under betting, also known as Total Goals betting, is widely available in online sports betting services, including football betting, casinos, and more. This type of bet attracts a large number of participants, prompting many bookmakers to invest heavily in it.
To play Over/Under bets effectively, it's crucial to understand the rules. Typically, the bookmaker will predict a specific number for a match. Your task as a bettor is to predict whether the actual number of goals (or other specified metrics) will be higher or lower than the bookmaker's prediction. This means you can bet on Over or Under for the match.
Example of Over/Under in Football
For instance, if the match ends 2-1, the total number of goals is 3. If the match ends 4-3, the total would be 7. When betting on Over/Under, you're focused on whether the total goals scored by both teams will be higher (Over) or lower (Under) than the odds set by the bookmaker. If it's less, you bet Under; if more, you bet Over.
Additional Notes
It's important to note that goals are counted only during the official 90 minutes of play plus stoppage time. Extra time, including extra periods and penalty shootouts, does not count. To add variety, many bookmakers now offer Over/Under bets for Half-Time, Second Half, or specific periods during the match.
Who are Bookmakers and What Do They Do?
Over time, our passion for football betting has led us to interact with external bookmakers. Are they bookmakers? No, they are bettors who serve as middlemen, transferring bets from buyers to bookmakers and receiving bets sold to bookmakers.
If the term "bookmaker" sounds grand, sometimes it may just refer to someone with ample funds who wants to "rent out" their money to profit from gambling enthusiasts like you. However, not everyone succeeds as a bookmaker when confronted by skilled bettors – and that bookmaker may fold after just one frontal gunshot. Consider exploring premier league predictions for more insights into the world of betting.
Oh, who are bookmakers and what do they do? They sell bets to you (or I call it a buying-and-selling game).
For example: You and your colleague bet on whether it will rain this afternoon, and whoever loses has to pay the other 100K. In this scenario, the role of the bookmaker is unnecessary because they do not benefit. Whether you win or your colleague wins, the 100K goes entirely to the winner (and the bookmaker gets nothing). This is a 1:1 ratio (1 win is enough).
What Do Bookmakers Do to Make Money?
In the same scenario as before, the bookmaker intervenes and adjusts the ODDS between you and your colleague. Both of you bet 100K with the bookmaker, so the bookmaker holds a total of 200K.
Afterward, the bookmaker adjusts the betting odds to 1:0.5 (1 wins half). Therefore, the winner now only gets 150K, while the remaining 50K goes into the bookmaker's pocket. That's the aim of the bookmaker's operations!
Whether in the past, present, or future, the role of the bookmaker remains the same! They profit by mediating between two individuals who want to bet and charge a service fee for holding the money.
The role of the bookmaker becomes even more significant when transactions between two individuals involve one party defaulting on payment (not sharing losses). Therefore, this service fee is crucial to ensure fairness. For instance, if you and your colleague bet 100K on whether it will rain this afternoon, and one party loses, the bookmaker steps in. Whether you or your colleague wins, the 100K goes to the winner entirely (and the bookmaker earns nothing).
Who Are Bookmakers in the Early Days of Gambling?
As gambling establishments grew and flourished, bookmakers evolved from individuals to corporations or groups (no longer just individuals).
From here, bookmakers adopted a different operational model of directly selling bets to those interested in gambling, rather than standing in between to hold the money.
For example: Football bets are evidence of gambling transactions between you and the bookmaker. Naturally, this time the odds won't be 1:1 for fairness, but adjusted to avoid risks for the bookmaker. What are these risks?
For instance, when only you and your colleague bet on rain this afternoon, it's a fair 1:1 scenario. But what if you bring in more people to bet with you? In such cases, your colleague might not be able to pay everyone if you win. So, your colleague asks the bookmaker to find more people to bet on their side. If each side has 10 people, the ratio remains 1:1 (Winning means 1 million). Consider exploring the best premium soccer tips for more strategies and insights.
But what if the numbers differ, with 10 people betting on your side and 20 on your colleague's side? The ratio then changes to 1:0.5 (if your side wins, each of the 20 people pays 50K to support your side, but if the other side wins, each of your side's supporters pays 100K, which is unfair, and the bookmaker can't afford to lose money).