Low odds betting is something that many people don’t want to touch with a barge pole, but it shouldn’t be feared. Betting on low odds bets isn’t just about fluke success. You need to know what you’re doing before placing a wager on any online sports betting singapore sites.
Most of the time, these bets are placed without any knowledge of why the odds are what they are, leading to more losses than winnings.
What Are Low Odds?
The term ‘high odds’ refers to the bookmaker’s margin over the pay-out on offer. If a bookie is offering 2/1 for a particular bet, this means that he has an 81% chance of profiting from the outcome of that particular bet).
‘Low odds’, on the other hand, refers to our chances of winning, which are less likely than in high-odds betting. For example, if you place a bet with an expected return of 20%, then this means your chances of profiting from a low-odds wager are 20% (the likely outcome being that you will lose your stake), and your chances of profiting from a high-odds wager are 80%.
The most common way of looking at odds is to compare them with the probability of winning.
For example, if we make a bet in which our chance of losing is much higher than the chance of winning, it means that the odds are very much against us. So, in low odds betting, we look for certain outcomes that have a small chance of occurring because when we win, our pay-out will be high, and our stakes nicely returned in profit.
What are the pros to betting at low odds?
Imagine that you are able to place a $300 bet on a game with good odds (1/4). Then you have the opportunity to place another 3 bets with other bookmakers, say online sports betting singapore sites.
The problem is that all of these other books won’t give you the same odds, and they also won’t offer as large a bonus or free bets.
You can use your $300 bet as capital to wager more money at better-paying sites and then place some of it on the game with the low odds bookmaker. In that way, you get to win from two different bookmakers, and as long as the odds are not too short (below 1/2), you will come out with a profit.
What are the downsides of low odds betting?
The only real downside is that when you start betting at these kinds of odds the stakes can get pretty high. At 1/5 odds you can only bet a maximum of $205 on a game before the profit will be eaten away by your stake. This is way more than most people are willing or able to bet, so in some ways low odds betting could have been better named as “substantial stakes” betting!
Even though the potential winnings might be big, you can use the low odds to your advantage. If you are betting at 1/4 (1.25) or higher then your profit will exceed your stake, so it’s a good idea to bet less than 100% of what you have available for that game and put the rest into a separate account.
How does 40% of $300 make more than 100% of $200?
Since you can put the money that would go into a bet as a stake on an outcome other than the one you are betting on, this gives you flexibility. Unless you have conservative odds and short prices (less than 1/2) then we recommend betting less than 100%.
For example, you have $200 to bet on a game, and the odds are 1/4. If you bet 100% of your money, then you will be able to wager $400 total. This is betting a quarter of every dollar available! But if you decide instead to put 40% or $80 in this bet (which would be $160), then you could bet the remaining $120 on an underdog.
With that strategy your maximum bet size is now $560 (400 + 120 = 520, which is 80% of 500). If you win the first game and get back to even money, it’s a good idea to put at least 40% in another bet before trying for the three times in a row 50%+.
Takeaway
Low odds betting is more about entertainment than it is about money management or profit! If you play by the basic rules of low odds betting, there’s no way you can lose all of your money on wagers like these. You’ll always have to be willing to risk some in order to win one, but you can reduce the odds of losing your money and have fun with it.