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A Simple Guide to EPL Odds for Beginners

Football is undoubtedly the most popular sport worldwide and the English Premier League is among the biggest and most profitable competitions. This is mainly due to iconic teams, such as Manchester United, Liverpool, Arsenal, Chelsea, and Manchester City, to name a few, that have established a global following due to their history, number of trophies, and popular players. 

From a betting perspective, the EPL remains the most fruitful sport not just in the UK but also in Australia. Bookmakers and online firms now take bets on different events, from Premier League games themselves to potential transfers, next managers, trophy wins, and everything in between. So, if you’re looking to take on this growing hobby, understanding how EPL odds are calculated is imperative.

So, without further ado, let’s get right into it!

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Reasons to Bet on the EPL

If you’re still on the fence regarding whether or not you should bet on the English Premier League from Down Under, here are some reasons to could change your mind:

  • Widely Available

Perhaps, the biggest perk of EPL betting is accessibility. You can find a multitude of sites offering EPL bets and pick one which is the most suitable one for your level or budget. 

  • An Abundance of EPL Information

The English Premier League is the most popular football league worldwide. Therefore, you can find abundant information regarding teams, matches, conditions, players, and other factors before placing your bets. The better you understand team formations, qualities, strengths, and weaknesses, the greater your chances of winning. 

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  • Extended TV Coverage

Due to its unparalleled popularity, the EPL is broadcast worldwide and in every city in Australia. This league gets more coverage than other leagues, such as  La Liga, Serie A, Bundesliga, and other major sports as well, including Rugby, Cricket, and Horse Racing. 

  • Greater Monetary Appeal and Competition

Compared to other football leagues and sports, the English Premier League is the most difficult to bet on due to immense competition and changing conditions. As a result, it’s the go-to choice if you’re looking to win big and diversify your gambling portfolio. 

How EPL Odds Work

Odds essentially represent the ratio between the stake and winnings on a particular outcome, whether it’s a win, draw, loss, transfer, goal scorer, correct score, etc. So, if you wish to place a wager, you need to learn about fractional or decimal odds so you can pick your preference and use it to analyse the percentage chances of success.

Fractional Odds Decimal Odds Percentage Probability
7/1 8 12.5%
4/1 5 20%
15/8 2.88 34.78%
6/4 2.5 40%
Evens 2 50%
10/11 1.91 52.38%
4/7 1.57 63.64%
1/3 1.33 75%
1/8 1.13 88.89%

For example, if you want to back Manchester United to win the next Manchester Derby at 7/1 at $1, the total returns for this bet would be $8 if you win ($7 profit + $1 initial stake). 

What Do EPL Odds Mean In Terms of Betting Probability?

Suppose Chelsea are 7/2 to beat Liverpool, who are at 5/4 to win the same game at Stanford Bridge. A draw is set at 3/1. Let’s consider this example in terms of betting probability:

Chelsea vs Liverpool

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Home Win: 7/2

Percentage Chance of Chelsea winning: 1 – {7/(7+2) x100%} = 22.22%

Away Win: 5/4

Percentage Chance of Liverpool Winning: 1 – {5/(5+4) x100%} = 55.55%

Draw: 3/1

Percentage Chance of a Draw: 1 – {3/4) x100%} = 25%

Total Implied Percentage Chance: 22.22% + 55.55% + 25% = 102.77%

As you can see, there’s an extra 2.77% in this scenario. This is merely an edge online bookmakers build in the market. In simple words, if you bet $100 on this match, you would be risking $102.77 in an attempt to profit from your desired anticipated outcome. Similarly, you can check the latest EPL odds for different matches and events before placing any wagers. 

Conclusion

And there you have it – a simple guide to EPL odds for beginners. By learning how to read EPL odds before placing bets, you can increase your chances of winning and have more fun competing in a huge number of markets and events. So, if you’re looking to add more thrill and excitement to your weekend by adding EPL betting to the mix, you know where to start. All online bookmakers have the English Premier League as one of their best value offerings, with millions of bets going through each game week. Therefore, you need to find the most suitable option for your skills and budget as EPL odds tend to change more than others. 

Finally, always remember to gamble responsibly. Contact the Gambling Helpline for free and confidential support, information, and counselling on 1800 858 858 or visit www.gamblinghelponline.org.au.

Read – Eight of the most intriguing January deals across Europe

Read Also – Winners and Losers: January transfer window

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