Sports betting has truly become synonymous with passionately supporting favorite sports teams and individual athletes. Although placing bets on the outcomes of sporting events is pretty much as old as sports themselves, the real betting that we know and love today has only been around for several decades, a century at most.
Considering how much revenue this line of business brings in and how everyone involved benefits from it, from betting establishments and bookies to the actual teams, it is safe to say that this form of entertainment has a safe place for the foreseeable future.
Despite its popularity, however, and the fact that most sports fans also enjoy betting and gambling, there are still many things the wider population is not familiar with. Placing bets on sports comes in a wide array of different ways, as you can choose very precise and seemingly irrelevant outcomes and situations to place money on.
Due to such a range of possibilities, it can often become somewhat overwhelming for many. In order to help you, we will deal with the pros and cons of low odds sports betting, one of the most prominent and favorite ways of betting that numerous sports fans and bettors like.
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What are They?
Although generally in the gambling world low odds mean low chances of winning, in sports betting is it much the other way around. When placing bets on sports, the term is used to distinguish something that has a very high chance of coming true. The term “low” in the name suggests that the winnings will be low because the bet favors the most likely outcome, meaning you will win much less than you would if you played the other way around.
Therefore, low odds in sports betting are a good thing because they are the safest bet possible. Any bet between 1.20 and 1.40 is considered a low odd, with some establishments and fans also considering them to go up to 1.60. These numbers represent how many times your bet will multiply if you win. So if you went in with $10 and played something with an odd of 1.30, your total winnings will come down to $13. You will have therefore covered your bet and won an additional $3.
Now, sports betting is rarely done one game at a time. What all players do is combine numerous games with different odds, which then add up and increase the final possible prize. Let us say you go in with the same $10 but play 5 games with 1.20, 1.30, 1.40, 1.50, and 1.60 odds. If you multiply these, you get 5.24. Multiply that with the $10 and you will win $52.4. This is a much larger amount, but it is much harder to guess five sporting events right than it is just one.
There is a lot of different theories about why low odds are good or bad for gambling. In the following section, we will try to determine some of the pros and cons of this approach, after which you can decide for yourself if such a way of playing is the right kind for you.
1. Safety and Certainty
When you opt to play low odd games, you have a much higher chance of winning. Usually, the most likely to happen outcome will have the lowest possible odd, like when a big and powerful team plays an underdog. If you pick the underdog to win, however, the chances of winning decrease dramatically but the odds jump to over 2 or even 3. Some of the craziest outcomes like more than 7 goals in football or large margins in basketball can go over well over 5 or 6, depending on the teams and the competition. If you want to play it safe, pick low odds every time.
2. Playing more Games
If you keep your games and likely outcomes in the low odds, you can kick 10 or even more different games and situations to bet on. All of them will have large chances of occurring and you are likely to win them, and since you combined they will multiply and give you a lot more money. This is the favorite strategy of bettors who support more than one team and like more than one sport.
3. Ease of Play and Keeping Track
It is rather easy to spot low odd games and you do not have to know much about the athletes, teams, or even the sport for that matter. If the odds are low, you know what you are in for and you can play them with a great deal of certainty. For amateur bettors and those who simply want to try this activity, placing a number of low odd games is the best thing to do.
1. Losses Hurt a Lot
Even though you may not lose a lot of money on a single betting system, a loss on low odds will hurt because it means that one of the less likely scenarios happened and you really missed out. In addition, if you mess up one game, your whole system will be rendered useless no matter how many other games you won. It is a situation that happens a lot even though the underdogs usually do end up losing.
2. A Lack of Adrenalin Rushes
Since you will be going for safety instead of suspense and nail biting, you cannot feel the extreme rush of adrenaline that comes with higher stakes betting and gambling. Of course, this is not for everyone as many people simply want to win all the time no matter how easy it is. If you just want to win more than you lose and occasionally try to chase the big fish, low odds betting is not the best way to do this.
Even though you will be placing bets on the most likely outcomes, you still need to do a little bit of research before playing. Some bookmakers do not always take outside factors into account when calculating the odds. For example, players may be injured or out for private or disciplinary reasons. Is it an away or a home game for the better team? Does the event have any competitive value or is it friendly? How high are the stakes and are there any potential records involved? You still need to be informed a lot about what you are betting on if you mean to keep winning, so despite the odds being in your favor with low-risk betting, make sure to explore the sports in question.