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What Are Odds? Top 10 Formulas for Beating the Bookies with Odds Analysis

What Are Odds?

Odds are a common term in football betting, referring to the conversion rate that the bookmaker pays to the player if they win their bet. Typically, bookmakers offer different rates based on various match factors. Moreover, these odds are not fixed and will change continuously as the game progresses. Understanding the payout rates of bookmakers can help you calculate potential winnings and identify which bookmaker offers the best odds for profit.

For professional players at football betting websites, odds are a familiar concept. However, for newcomers, it’s crucial to read the following guide to master the art of reading football odds.

Guide to Odds Analysis for Different Types

Currently, when you access the betting board of any bookmaker, you will encounter the following popular odds types:

How to Analyze Decimal Odds – European Odds

European odds are always greater than 1.00, and the betting board will display the bet amounts and potential winnings for players. The calculation for winning money in 1x2 football betting if you hit this bet is as follows:

Example: Bet 1 million, Odds = 1.2, then winnings = 1,000 x 1.2 = 1.2 million. If you lose, you will lose the initial 1 million bet.

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What Are European Odds?

European odds modify the display of the entire betting board, which differs from the regular 1x2 European betting style. The calculation for this type of odds is straightforward:

Received Amount = Initial Bet + (Initial Bet x Hong Kong Odds)

This calculation differs from European odds. For example, if you bet 1 million and the odds are 1.2, the amount received will be 1,000 + (1,000 x 1.2) = 2.2 million.

How to Analyze Indonesian Odds – IND

When choosing this form, you will see negative and positive numbers on the betting board with odds from 1.00 or higher.

IND Odds Board Calculation:

Positive Odds: Winning Amount = Initial Bet + (Initial Bet x Indo Odds) If you lose, you lose the entire initial bet.

Negative Odds: Winning Amount = Initial Bet + (Initial Bet / |Indo Odds|) If you lose, the amount deducted = Initial Bet x |Indo Odds|

How to Analyze Malaysian Odds – MY

On the betting board, Malaysian odds will appear as negative and positive numbers, which are easy to recognize and similar to the Indonesian exchange rate.

MY Odds Board Calculation: The calculation depends on whether the odds are positive or negative, similar to Indonesian odds.

How to Analyze American Odds – US

American odds are based on Hong Kong odds and can be calculated as follows:

For Hong Kong < 1.00: US Odds = -1 / Hong Kong Odds Winning Amount = Initial Bet x Hong Kong Odds If you lose, the amount lost = Initial Bet x US Odds.

Example: If you bet 1 million with a Hong Kong rate of 0.7, if you win, you will get 1,000 x 0.7 = 700. If you lose, you will lose 1,000 x (-1 / 0.7) = 1.42 million.

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What Are Hong Kong Odds > 1.00?

When the Hong Kong odds are greater than 1.00, the calculation for winnings is straightforward:

Winning Amount = Initial Bet x Odds

If you lose, you do not get back your initial bet. For example, if you bet 1 million and the odds are 1.5, the winning amount would be 1.5 million.

How to Analyze Odds – Effective Formula

Currently, there are three main sources for analyzing odds:

Next Goal

Fixed Odds or 1x2

Online betting sites

Understanding how to analyze odds can be complex, but let’s go through a practical example for clarity.

How to Analyze Odds Effectively

Fixed Odds Example

If the fixed odds are 1.75, 2.3, 4.5, you will see corresponding symbols on the betting board as:

F1: 1.75 – Predicting the home team scores first gives a rate of 1.75.

FX: 2.3 – No team scores, rate is 2.3.

F2: 4.5 – Away team scores first, rate is 4.5.

The probabilities can be calculated as:

m1 = 1/n1 = 1/1.75 = 57.1%

mX = 1/nX = 1/2.3 = 43.4%

m2 = 1/n2 = 1/4.5 = 22.2%

The actual combined probability is higher, calculated as:

T = m1 + mX + m2 = 57.1 + 43.4 + 22.2 = 122.7%

Thus, accurate analysis of running odds is essential to balance probabilities and increase winning chances.

Three Stages of Analyzing Odds

Open Odds

These appear early for important matches, sometimes two weeks in advance.

Research team form, history, lineup, and tactics for accurate predictions.

Live Odds

Released a day before the match, these odds can fluctuate based on factors like betting volume.

This fluctuation helps balance the bets and minimize the bookmaker's risk.

Running Odds

During the match, bookmakers release running odds, which change based on the match's progress.

Accurate understanding of these can prevent falling for misleading numbers.

10 Tips for Analyzing Odds to Always Win

Stay confident and calm to make accurate analyses and predictions.

Avoid betting big or going all-in, regardless of how sure you are.

Refer to multiple sources, including bookmaker information.

Learn from experienced bettors.

Join football betting forums for insights.

Consider the importance and tension of the match.

Observe bookmaker odds closer to the match day to gauge general sentiment.

Understand bookmaker odds and conversion rates.

Use a formula: if odds end in 1, 2, 3, 4, 6, 7, 8, 9, they might be unreliable; if they end in 0 or 5, they’re worth considering.

Break down the bet into 4 parts (1 whole, ¾, ½, ¼) corresponding to odds like 0.25, 0.5, 0.75, 1.25, etc.


These basic strategies for analyzing football odds are essential for any bettor. Understanding these principles can bring more luck and success in your betting activities. For even better results, consider incorporating the best premium soccer tips into your strategy. These tips provide expert insights that can significantly boost your betting performance.


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