The popularity of soccer teams, competitions and players has made soccer betting the favorite of many. Any individual has the capacity of making decent profits through soccer betting with the right information and strategies. If you are looking to start betting on soccer or already engage in it but need more understanding of the fundamentals - then this article is for you.
You will learn about the various soccer bet options and types available, gain understanding on odds, cash out, bonuses and how to manage your bank roll. Let’s get right into it!
PRE-MATCH VS LIVE BETTING
In soccer betting you can choose to bet on pre-match or on live matches.
Pre-Match betting is basically placing bets on events or games before they start. So, for example if a match between Real Madrid and Barcelona starts at 6:30pm, any soccer bets placed before 6:29pm is a pre-match bet.
Live betting on the other hand is betting on events that has already started. Thus, you can place bets in the first half, second half or during half-time of a soccer game. An advantage of placing live bets is, the odds changes constantly based on situations in the game such as goals, corners, red cards e.tc. hence the possibility of winning is much higher.
HOW TO READ ODDS AND CALCULATE POSSIBLE WINNINGS
Odds indicate the chances (probability) of an event occurring and shows the amount you will win betting on that outcome. There are primarily 3 types of betting odds- fractional odds (British), decimal odds (European) and American Odds. Almost all betting platforms you will come across in Ghana including CediBet.com utilize the decimal odds.
Decimal Odds are displayed like below:
The higher the decimal value, the lesser the chances of that outcome occurring. So, using the image above as an example, the odds of Watford winning is pegged at 8.60 whiles the odds of Liverpool winning is pegged at 1.39.
This means the chances of Liverpool winning is much higher than that of Watford. But on the other hand, backing Watford to win or even draw will make you more money than backing Liverpool to win.
To determine your payout, multiply your stake amount by the odds on your selection. So, if you select Watford to win and your stake amount is GHS 5, your maximum payout will be:
5 × 8.60 = GHS 43.
SINGLE BETS VS MULTIPLE BETS
As their names suggest, single bets are bets placed on a single (one) selection. Hence to win a single soccer bet, you need to rightly make one prediction. Contrastingly, multibets also known as accumulator bets requires making two or more selections.
Both options have their own advantages and disadvantages. The probability of winning on a single bet is significantly higher than a multibet but you can earn much bigger profits on multiple bets than single bets.
Potential earnings on multiple bets are calculated this way:
For example, if you make 3 selections and the odds on the selections are 1.50, 2.30, 1.80. Your potential earnings will be the:
Stake Amount × 1.50 × 2.30 × 1.80
TYPES OF SOCCER BET OPTIONS
There are a wide range of betting options you can choose from as far as soccer betting is concerned. Bet types include betting on the match result (Win, draw or lose), Double Chance, Under/ Over, Handicaps, Corners, Goal Kicks, Correct Score etc.
It is very important to understand what these bet types mean in order to take full advantage of them and to increase your chances of making profits on your soccer bets.
Click to read our in-depth article on the various soccer bet types and their meaning..
BANK ROLL MANAGEMENT
When you are starting out in soccer betting, it is very important to know how to manage your soccer betting funds. Having a set budget for your betting activities might be a wise thing to do to prevent over spending. The budget set aside will certainly depend on your financial health as an individual.
Aside from having a budget, you should also decide what percentage of the money you’ll use to place bets on each event. It’s very important you do not spend more than you can afford to lose. Constantly reevaluate your expenditure and earnings in order to make the necessary adjustments.
For example, if you’re on a losing streak, it will be wise to reduce the amount you spend on each event so not to deplete your betting budget quickly.
TAKING ADVANTAGE OF BETTING BONUSES
Most bookmakers offer bonuses to their users. The most popular bonuses offered to punters include the Welcome Bonus- which is offered to new users who have just registered on a betting platform, Accumulator bonuses for users who place multiple bets and Money Back offers. It is very important to understand how these bonus offers work.
Do well to visit the Terms and Conditions pages of the bookmakers to read the terms and conditions attached to the bonuses. This will help you make the most of these bonuses as they can boost your chances of making a profit on your soccer bets greatly.
CASH OUT AND PARTIAL CASH OUT OPTIONS
The cash out option allows you to settle your soccer bets before the game you have staked on ends. This option enables you to get some money back especially when the game is against you and is available on CediBet.com.
So, the cash out option works this way- depending on how the game is going, your bookie will offer you an amount which might be lower or higher than the original expected winnings. You may choose to accept this amount by clicking on the cash out button or not.
For example, you’ve backed Manchester United to win a game against Liverpool and Manchester United are leading 1-0 at half-time. You may decide to cash out your bet if you think there is a high chance of Liverpool equalizing in the second half of the game.
The cash out option works for both single bets and multiple bets. In partial cash out, you cash out only part of the amount and leave the rest on the bet.
CHOOSING A BOOKMAKER
In choosing a bookmaker or putting it in simple terms, betting platform, it is very important to do background check on the bookmaker to make sure it is a credible one. Ask friends or do online research on the best bookmaker you can bet with.
Find out whether they have the required license to operate. All reputable bookmakers have their operating license clearly stated on their website. Also check whether the methods of depositing and withdrawals are ones available and convenient to you.
Other things to look out for include the bonuses and rewards on offer and good customer support- you don’t want a bookmaker you cannot contact. CediBet.com is a very reliable betting platform you can try out.
HOW TO PLACE A SOCCER BET
Once you have a general understanding of betting and have chosen a bookmaker to work with, you are now ready to place your bets. Remember, you do not need to get all the betting terms and strategies at once before you start betting- you will gain more understanding as time goes on.
Open an account with your preferred bookmaker, that is if you prefer to bet online, by going through the required registration processes. Navigate to the deposit page and deposit funds into your betting account. Go on and find the sports page, select the game(s) you want to place your soccer bet on and enter the staking amount. The bookmaker will indicate your potential winnings. The waging amount will be deducted after your bet is accepted.
You can also decide to bet at a brick-and-mortar betting shop.
BONUS SOCCER BETTING TIPS AND STRATEGIES
⦁ Have basic knowledge on the soccer teams and competitions you want bet on: It is important to know the competitions and teams you want to bet on. For example, if you want to place soccer bets on the English Premier League, it is important at least you know the teams, the strength of the teams, injury information and the teams’ current form.
⦁ Do not be bias: Many punters often bet on their favorite teams even when those teams are out of form or have less chances of winning. We get it, you love your team but remember you are betting to make profit.
⦁ Take advantage of Betting resources: Betting is surely a game of chance but there are many websites that provide game data and statistics that can help you decide which team to back. Visit these websites to get information that might help you make the profits you desire. You can also follow betting experts out there who have a good record of predicting games to get tips on teams who are likely to win.