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Soccer is possibly one of the most entertaining sports out there. It definitely is the most popular sport, adored by over 4 billion fans from all over the world. Given its wide admiration, soccer is also an incredibly common sport to bet on. Everyone, by this point, is quite aware that a soccer match can go one of three ways – the one team can win, the away team could win, or it could end in a draw. So today, we will take a look at every punter’s favorite market – 1×2 betting.
1×2 Betting is very popular amongst fans of betting, beginners, and experts alike. These wagers are fairly straightforward, easy to grasp, and quite predictable. That is if you’re familiar with how the game works, the tournaments, and the team. This makes it an especially good option for someone who has only recently picked up betting on soccer.
With 1×2 betting, you can stake your money either on the home team to win (1), a draw (x), or the away team to win (2). Sounds simple enough, doesn’t it? The bookmaker calculates the odds for each of these options that indicate the probability of that outcome occurring. And also, the amount of money you would receive if your bet is successful. They’re usually in the form of decimals or fractions.
Here’s what the odds for a match would typically look like. Let’s say that Chelsea, the home team (1) are playing against Manchester United (2), the away team at Stamford Bridge.
Decimal odds Fractional odds
1 – 1.20 1 – 1/5
X – 3.25 X – 9/4
2 – 2.60 2 – 8/5
The numbers, what do they mean? If you’re a beginner, you could be looking at the above odds and wondering the same thing. Let’s take a look at how to make sense of 1×2 odds.
Odds essentially represent the likelihood of an event occurring. With these numbers, one can calculate probabilities. Considering out first option – which is a home win, both the decimal odds and the fractions odds indicate an 83.3% chance of that taking place. The chances of a draw are very less according to the odds – around 30%. And last but not least, the chances of an away win occurring are only 38.5%. This means that the home team (1) has the highest chance of winning this match.
Odds can also be used to calculate your expected profits. To do this, all you would need to do is multiply your stake with the odds, which will give you your total payout. To ascertain your profits, subtract your total payout from your stake.
If you decide to bet $100 dollars on the home team at 1.20 or 1/5 odds, your total payout would be $120, which would be a profit of $20 if your bet wins. Consequently, if you were to bet the same amount on the away team, your total expected payout would be $260, a profit of $160.
As you may have determined, lower odds mean a higher probability of occurring and, therefore, lower profits. Higher odds mean a lower probability of occurring and higher profits. While it is safe to bet on the favorite to win as it leads to a small but sure profit, betting on the underdog can be very profitable if your bet wins, albeit risky. But what’s betting without any risk, right?