HOW FOOTBALL BETTING WORKS

Football betting is all about betting against bookmakers. It is different that
betting against other people the way most people do.
Bookmakers are betting companies that provide the platform for betting
activities. They also provide the prices and expected winnings on each
football match.
All you need to do is to determine the outcome of a particular match or a
series of matches. You don't need to predict the exact scoreline. Of course
there are bets where you can predict the exact scoreline and we will talk
about that later.
The price per match will be determined by how hard it is. The easier the
match, the lesser the potential returns. The harder the match, the higher the
potential outcome.
Assuming Manchester United wants to play Wigan Athletic at Old
Trafford, we all know there is a very high likelihood that Manchester
United would win.
The money you are expected to win if you say Manchester United will
beat Wigan will be very small. In fact, very very small.
On the other hand, if you say Wigan will beat Manchester United, then the
expected monetary returns would be high. It will be high as well if you say
it will end in a draw.
Talking About Prices...
Each football match has its own price. It's called odds. Have you ever
heard statements like “Bookmakers have said Chelsea to win the league at
6/4”? That 6/4 is the money tag on Chelsea to win the title.
Don't worry. I will explain more.
Using the Manchester United and Wigan example above, a bookmaker can
say his price/odds for the match is 2/7. This means that for every N7 you
play with, you win N2 plus the N7 you had a bet with. Your total returns
would be N9.

By Akin Alabi

Published by Samuel Tunde