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Betting Odds & why they are so important

Betting odds determine the amount you win and are the measure of all things for experienced players. Betting odds are determined by the bookmakers and are always slightly adjusted over time. A good bettor makes his bet when he thinks the bookmaker has made a mistake in determining the odds. If you think that the odds are wrongly so high, then it is time to place a bet. Want to know more? Read this guide!

  • Know how to calculate betting odds
  • Betting odds determine your winnings
  • Try to find "value bets"
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Author:
Richard Miller
Last Updated:
October 12, 2021
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This author was thoroughly tested and approved by the experts at BettingBilly.com before joining the editorial board to ensure a high content quality.
Author Bio:
 
Richard was Marketing Manager at a global bookmaker and worked in the enterntainment sector for decades before working his way up in the world of entrepreneurs. His focus areas are mainly in the fields of sports and politics. He has a Science Degree, visited Harvard University and is now our hardworking Editor-in-Chief at BettingBilly.
Richard was Marketing Manager at a global bookmaker and worked in the enterntainment sector for decades before working his way up in the world of entrepreneurs. His focus areas are mainly in the fields of sports and politics. He has a Science Degree, visited Harvard University and is now our hardworking Editor-in-Chief at BettingBilly.

Betting Odds 2021

When it comes to online sports betting in India, there are many different things to consider. You want to make sure that all of your favorite sports have an abundance of betting markets, as well as the platform having fast and effective payment methods and customer support.

One area that a lot of people overlook that could have a big impact on your future bets is that of the betting odds. While no single platform will have better odds for every single market, in general, there will be some operators that consistently are better than the rest in this regard.

This guide looks at the importance of getting the best betting odds and where you can find them.

Why are betting odds so important?

There are a number of different reasons why betting odds are important. This goes for if you are a casual sports bettor or you take your betting very seriously. Here are some of the major reasons why betting odds always need to be considered:

Maximizing your returns

When you are placing sports bets, you always want to make sure that you are getting the best available prices. Even small differences in odds can dramatically change how much profit you make on a bet. When your bets have the best odds on a consistent basis, you will be maximizing your return.

While it might not seem significant in the short term, if you add up all the differences over a number of years, you could be missing out on a serious chunk of change. Getting the best odds could even be the difference of you being profitable versus making a loss in a given period from your sports betting.

Getting better value

When you are placing sports bets, there are a lot of times you may avoid a certain wager because the odds do not appear enticing enough. However, if you are getting the best odds for a given market, the bet may be then more attractive and could end up being nice and successful for you.

One of the most important aspects about being a successful sports bettor is making sure that you are making value bets whether this is through live betting, a sports betting exchange or a normal site.

Makes betting more enjoyable

When you are getting higher odds for a given bet, the outcome is going to be bigger and more exciting than it otherwise would be. It is always great watching your lucrative bet as it progresses, hoping that it comes through for you with a nice level of profit.

Tips for getting the best odds

If you are looking to get the best odds for your sports bets, you will likely have to do a bit of research or rely on one of the great guides on BettingBilly to see what the best operators in the space today may be. Here are some useful tips if you are looking to get the best odds possible:

Have multiple accounts

If you are looking to always get the best odds for a given bet, the main way to achieve this is by signing up for an account with all of the best sports betting sites. This means that you can shop around for each bet that you are placing, knowing which operator has the lowest odds. To quickly see the odds comparison for a given event, you can use an odds compiler tool such as oddschecker.com.

Avail of bonus offers

You can maximize your odds for a given bet by using bonus offers as part of your strategy. One of the most common promotions that you will see with sportsbooks is an enhanced price offer. This may relate to a particular athlete or team, or it may see your bet always getting a price boost on a Sunday.

Narrow focus

If you do not want to open a lot of different sports betting accounts, you can take the approach of narrowing your focus on certain sites. Most people will have one or two different sports that they tend to bet on the most.

Certain sites will specialize in particular sports and generally have good odds on offer for these options, even if the other sports markets do not have good odds. By finding a good cricket betting site that generally has good odds, this could be an ideal fit for your needs.

Best free bet offers

While free bets in themselves are necessarily boosting the odds you get on a given event, they can boost your bottom line as you will be betting with the bookmaker’s money and not your own. This can help minimize your risk, maximizing your return in the long run.

  • Standard free bet
  • Risk-free bet
  • No deposit free bet
  • Price boost
  • Insurance bet

Free bets and other types of bonus offers are very common across the betting space, with each of them having their own quirks and conditions to consider. Here are some of the common free bet offers and bonuses you will come across:

Standard free bet

This is a free bet in its traditional sense. The free wager will be credited to your account with the operator and you will be able to use it instead of placing your real money on a bet. For most operators, you will be able to keep the winnings of this free bet.

Some betting sites will have wagering requirements you will need to meet before cashing out these funds. Some operators will allow you to split the free bet into smaller wagers, while others require you to use it all at once.

Risk-free bet

A risk-free bet is given to you if your qualifying bet is a loser. For example, if you are betting on a cricket game and your bet wins, then you will not receive a risk-free bet. However, if this bet is a loser, you will get a free bet that is of the same stake as the losing bet. Therefore, you get a second chance.

No deposit free bet

A no deposit free bet is perhaps the most favored type of offer you will come across today. This sees you getting a free bet after you register for an account and you do not need to make a deposit. Therefore, you are staking no real money when creating this new account. These are the types of free bets that will often have wagering requirements to be considered.

Price boosts

A lot of operators will run regular price boost offers. This may be for a high-profile cricket game where you will get enhanced odds that a certain team is going to win. Usually, there will be a cap on how much you can wager at the enhanced price.

Insurance bets

Another common offer you will see is that you get your money back if a certain event does or does not happen. For example, if a horse you wager to win a race finishes in second place, you might get your stake returned to you. This is also popular for parlay bets where just one of your multiple selections is a loser.

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Finding the perfect bookmaker with the best betting odds

As mentioned, there are many different aspects that go into getting the best odds. First of all, you should only focus on operators that have a good reputation and strong reviews. Then you need to make sure that all of your needs in a sportsbook are looked after.

Then you can start to focus on the offerings that have the best odds. While you can simply sign up for an account with a number of different sportsbooks so you always get the best odds for a certain event, you may not want to do so.

  • Good reputation
  • Well-licensed
  • Wide range of markets

You can still find betting sites that focus on your favorite sports and offer good odds. By signing up today, you will also get your hands on a nice free bet welcome offer that will get your account off on the right foot.

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Conclusion: Get the best odds
Sports betting looks easy on the surface to make money, but in reality, it can be a tough slog. This is why you need to stack the odds in our favor as much as possible. You want to maximize the times that you win, as these will help mitigate your losses. There can be a massive difference between placing bets at the best odds and simply getting average odds. If you want to take your sports betting to the next level, you should not forget about this advice.
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