The Most Popular Football Betting Markets Explained
Of all events in the history of bookmaking, football is the most loved. Bettors relate more to the sport, thanks to its grassroots support, easy understanding, and incredible publicity. Football betting markets are activities done on and off the pitch. The common ones revolve around match results, goals scored, and cluster bets. Below are some of them; what they mean, their influence on the game, and why they are popular.
1.1 Double Chance
Set on the either-or premise, the bet gives the bettor an added opportunity to select 2 probabilities. In most cases, they rely on the 1X2 market, which is either of the 2 options that will happen. Since the probability is higher, the odds value is usually low.
1.2 Correct Score
The market has the exact number of goals to be scored by each of the two teams. Choices are many and random, which makes the probability for achievement lower. Such markets have a higher odds value compared to others in the game.
1.3 Half Time/Full Time
The market works nearly the same as the correct score but divided into two halves. The bettor has to predict the scoreline during half time and at the end of the game. Chances of getting the bet are slim, meaning the odds value is high.
1.4 Both Teams To Score
As the market name suggests, either of the two teams must score for the bet to stand. It does not matter the number of total goals scored in the match, as long as both teams scores.
1.5 Asian Handicap
Asian handicap relies on the team’s strength and previous runs. If either of the two teams is stronger, the sportsbook sets the winning higher by more goals. The probability is spread to even the field for the weaker team, improving the odds value in the process.
1.6 1X2 Betting
It is the easiest market to bet on. The bettor has to predict if a team will win, draw, or lose the match. The probability of winning or losing might be simple to predict, thanks to the high versus low odds. However, the draw bet is the hardest to predict.
1.7 Over/Under Betting
The structure of the bet is similar to both teams to score, only that the total number of goals scored matters. For example, an over/under 3.5 bet means that more than 4 goals must be scored or 3 goals or less. Either 1 or both teams can score.
- What is a Betting Exchange and How Does it Work
Betting exchange help bettors trade match outcomes against each other. The exchange is the media which the bettors use as an arbitrator. Compared to normal bookmaking where the sportsbook takes the stake if the prediction does not turn out as expected, betting exchange has 2 people on either end.
Bettors go to the site and deposit their stake. Upon agreement, they bet on a game with either bettor on the opposing end. If the outcome goes either way, the person who had correctly predicted the outcome receives the money. The exchange only earns a certain commission from the winning as the processing fee.
What makes the whole exercise interesting is the fact that the exchange does not set any odds. The bettors are the ones who set the odds value, wager on it and the winner takes home their winnings. Betting exchange can accommodate any form of game or event, as long as the probability is agreed upon by the bettors.
- Political betting
Just like football betting, political betting sets all the candidates against each other. The model is similar to the Tournament Winner bet at the beginning of the tournament. Odds value emanate from the candidates’ popularity in the opinion polls. At the beginning of every bet, each candidate has the same probability. With time, as the opinion polls take shape, the odds value reacts to their popularity. The most likely candidate to win has the lowest odds value and vice versa.
In countries like the United States, political betting narrows down to the 2 main political parties. Predicting the winner is quite simple since the political wave can be felt across the nation. On the other hand, countries like the United Kingdom and France where one political party cannot have a simple majority, the markets are open and competitive. Probabilities are lower, translating to higher odds across the markets.
- Which is the best betting exchange?
The choice of the best betting exchange is reserved for the bettors, owing to their needs. However, the exchange commission and the ease of betting quantifies the bookmaker as the best. Of all the betting exchange sites, Matchbook, Betdaq, Betfair, and Smarkets are the leading. Betfair has a significant market share, while Smarkets and Matchbook have the most competitive exchange commission. Betdaq has significant market coverage.