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Should you bet low on high odds or high on low odds? Betting on low odds requires a greater risk if you wish to make a decent profit.
Backing a highly favoured team against one of the league’s worst is not going to help in your quest to score a handsome return.
In fact, you can even lose your entire bankroll in the long-term – discover why below.
What is a Drawdown, and how does it affect my betting
A Drawdown is a term used to define the amount of money you risk and lose on a bet. For example, let’s say you bet £10 and lose £5.
To recover that 50% loss, you need to make a 100% gain on your next bet to get back to £10.
In simple words, in order to come up even, you need to make a much greater percentage gain!
Games with low odds will always require more victories to help you make up for lost bets.
Below are some examples of the profit you need to make after various losses:
10% loss -> 11% profit to break even
20% loss -> 25% profit to break even
50% loss -> 100% profit to break even
80% loss -> 400% profit to break even
90% loss -> 900% profit to break even
Why does Drawdown matter?
Drawdown is worth understanding because backing low odds like 1.10 or 1.20 will require you to stump up larger bets just to make a healthy profit.
For example, a gigantic £1000 bet on a 1.10 home victory will give you a profit of just £100. The risk is simply too great for a meagre reward.
Breaking even with a £1000 stake would require 10 successful bets, and everybody knows that picking 10 consecutive winners is highly unlikely for anyone.
For example, a successful tipster will often maintain a 50-60% success rate. There is never a sure thing in sports betting, and that’s why low odds are an illusion.
Let’s not forget that when you see odds of 1.10 or 1.20 those are not actually the real odds in terms of the probable outcome!
Yes those odds include a book’s margin which can be anywhere from 2% to 10%, as well as adjustments made because of the money flow!
Basically the more people think like you and place the same type of bet the more the odds go down, BUT this has nothing to do with the actual probability of the outcome.
It simply stays the same, unless something relevant happens on the filed, or on the track or whatever event you are betting on.
The superior option is to back a game with higher odds. For example, sports betting sites will often provide approximate 3.00 odds for a draw.
Winning with the £1000 stake would result in £2000 profit. In this scenario you’d barely have to wager £50 to get that £100 profit earlier on those low odds!
So what do I do, avoid low odds, go for high odds?
Being able to stake just 5% of the £1000 stake will give you the opportunity to make many more bets to try and earn much better returns.
Winning on just seven of 20 £50 bets could be enough for you to break even. That 35% success rate is much more realistic than attempting to maintain 100% on low odds.
Of course it comes down to what you would like to do and bet on.
After all gambling is a leisure activity and you should feel good when doing it. However we present the numbers to you, and numbers don’t lie.
If you believe a 100% winning rate game after game is possible, then by all means wager what you have planned, and do not bother searching for higher odds alternatives.
Low Odds, the Illusion of a Gaming System
Many sports betting fans are drawn to backing low odds because they feel as if they are gaming the system.
Sure there are very obvious favorites, with very low odds and very solid probability of winning!
However, the strategy is one that requires fans to risk pretty much their entire stake on every bet.
This boom or bust strategy can lead to some crushing losses that can suck all enjoyment from the experience.
What’s the right way to bet on high & low odds
For pure enjoyment, or simply to support your favorite team, player, horse, whatever, wager an amount you are very comfortable losing.
Then find yourself some 3.00+ betting markets that you are familiar with.
Even if things go wrong, you’d be only staking no more than 6-7% of your bankroll. Like we mentioned above, 35% is all you’d need to break even.
What book has good odds?
We usually recommend various sportsbooks, because on different events and occasions they offer different odds.
Some are better for rare events like the World Cup, others are better for reoccurring events few times of the year like horse races or football games.
There’s no one fits all or a best one. However we do enjoy intertops.eu, their odds, their visual presentation of the odds and their huge amount of betting markets.
On a regular night, a regular book will give you from 15 to 40-50 betting markets. intertops.eu often has from 80 to 200 betting markets on a single game.
This means a lot more opportunities to find yourself odds worth playing, that make sense to you.
Being given only full-time result odds, with a few draw no bet odds and double chance odds, gives you very little to choose from.
If you are looking for quality free sports betting tips, please visit our friends at GoonersGuide.com
If you are looking to place sports bets on some of the highest odds online we recommend one of the most trusted sportsbooks since 1996. Give them a try, and judge for yourself:
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