A Guide To Understanding EPL Betting and Betting Odds

When navigating betting on the EPL, you’ll first need to understand the basics, as this can significantly improve your ability to make informed bets by being able to better predict the match outcome. In this comprehensive guide, we aim to help you understand the different types of bets you can go for and how to understand the odds. 

The Different Types of Bets in EPL

Never has there been a better time to become a punter in the EPL! Not only are there tons of different games to bet on, but there are also various types of wagers that can be made. Here are some of the most popular:

• 1X2 bet - this type of bet is a match outcome wager where you have three options: you can back the home team, the away team or if you think the result will be a draw. The one in the name refers to the home team winning, the X refers to a draw, and the two refers to the away team winning. There is also a halftime version where bets will be paid out at halftime scores. 

• Double chance - this is the kind of bet where you have a greater chance of winning. Essentially, with this type of bet, you can wager on a win or a draw for the home team, a win or a draw for the away team, or even a win for both the home and away teams. If there is a draw in the third wager, you’ll lose. 

• Draw no bet - for this type of bet, you can place a wager on whether the home or away team will win. In the event of a draw, it’s referred to as a “no bet”, and the stakes will be returned in full.

• Handicap -  for this bet, both teams are given a handicap, depending on whether they are on the stronger side or not. Essentially, this is like giving the weaker side a headstart because the stronger team will start behind in goals, and the weaker team starts ahead. To win when betting on the stronger team, they must win by more than their handicap value. On the other hand, if you wager on the weaker team, they must either win the game or lose by less than the handicap.

• Over/Under - in this type of bet, the sportsbook sets an ‘over’ value and an ‘under’ value for both teams, and bettors wager on whether they think the score will be above or below the sportsbook setting. 

• Both teams to score - the name of this bet is self-explanatory; if you take this bet and both teams make it onto the scoreboard – you win!

• Parlay bet - a parlay bet allows bettors to place wagers on different outcomes to increase their chances. You’ll place two or more selections on the same game to multiply your odds so the chances of winning are higher, but are the risks.

When making bets, especially as a beginner placing wagers on the English Premier League, make sure you’re keeping a close eye on the latest EPL tips and betting odds. 

Understanding EPL Odds Making

Determining the English Premier League (EPL) betting odds is a complex yet fascinating task – it’s not as simple as going with your gut, but there’s an intricate science behind it. The process involves a pool of sports analysts, mathematicians and statisticians who meticulously analyse the data surrounding the matches. This data includes: 

• Player condition

• Weather conditions 

• Head-to-head records

• Team performance 

These insights feed into algorithms designed to assess and level the betting landscape. Essentially, the goal is not to predict the outcome but rather to determine and present odds that will safeguard the sportsbooks’ interests and incentivise bets from either side. 

Why? Well, there’s no doubt that sportsbooks face financial risks, so this approach helps alleviate those risks. There is a heavy favourite that triumphs. It also ensures that there is a booming betting market that appeals to a wide variety of bettors. 

EPL Odds versus True Probabilities

Look, sportsbooks are businesses, and they’re in it for a profit just as much as the bettors are. So, their goal isn’t based solely on providing odds that accurately represent the potential outcomes of a game. This is why it’s important to consider true probabilities and not rely on the odds. Let’s take a look at an example:

Manchester United vs. Liverpool: 

• Manchester United: -250 (implied probability of 71.43%)

• Liverpool: +200 (implied probability = 33.33%)

Those with a keen eye will pick up that the combined implied probability exceeds 100% and totals 104.76%. Not making sense? Well, this is how sportsbooks ensure their profitability – they integrate their profit margin into the odds (hence the extra 4.76%). It’s a subtle way of guaranteeing a return while allowing punters to wager on the matches. 

How to Leverage the Edge in EPL Betting

Betting, in general, requires you to try and outmaneuver the sportsbooks. But how? It’s time to learn how to leverage ‘the edge’. The edge signifies circumstances where the likelihood of an occurrence happening is greater than what the odds suggest. When there is a higher probability of a particular team (or player) winning than what the sportsbooks anticipate – you take the bet as this will provide more favourable opportunities. Victory is never 100% guaranteed, but selecting bets with a greater, discernible edge generally works in your favour as there’s a higher chance of winning. 

Final Thoughts

Entering the world of EPL betting is exhilarating, but before you dive in, you need to know the basics and what to look for. This will go a long way to increase your chances of winning. With this guide, you should be more familiar with the concept of betting and understand the odds. Now, go and have fun, but be responsible and strategic when placing your bets.