With the Premier League due to resume a week after the World Cup, now is an excellent time to learn how to bet on the world’s greatest football competition. Below, we’ll outline everything you need to know about reading odds, and the different types of bets you can place on the Premier League.
First Thing’s First: How to Read Betting Odds
The sports betting industry is growing enormously, with the global betting market expected to reach $129.3 billion by 2028. Because of the market’s size, there is inevitably a little bit of variation in how sports betting works, depending on where in the world you’re betting from.
The most important thing to know about sports betting is how to understand the odds being offered by the bookies. These odds can be expressed in three different formats—American, decimal and fractional.
Let’s take one example, and see how it looks across the different odds formats. Say that Chelsea are favoured to beat Manchester United by -200. This is how the American odds would read, which can also be expressed as 1.50 in decimal, or 1/2 in fractional. All of these are trying to say that if you bet $10, you will get a total of $15 back in return if your bet is successful, so a profit of $5.
These odds are also the most simple type of bet that can be made on the Premier League—head-to-head odds, or moneyline, on which team you think will win.
Over/Under Betting on the Premier League
The next most common type of Premier League betting that you’ll find is something called over/under betting.
Here, bookies will propose a bet such as “over +1.5” or “under 1.5”. What this means, is you’re betting on how many goals in total will be scored across the game by both sides. If you take a bet on “over +1.5”, then two goals or more need to be scored for your bet to be successful.
To see some of the over/under betting available on real football games, check out the English betting sites available here. You’ll see that the bookies often make these odds quite even so that a bet, either way, is a tight call.
Similar to over/under betting is the points spread, which is like over/under, but just for one team. For example, a bet might be offered by bookies on “Chelsea +1.5”. This means that if Chelsea win by two goals or more, then the bet is won. Essentially, it’s a form of giving the side that is expected to win a handicap.
Proposition Betting on the Premier League
Another type of betting that can be made in the Premier League is proposition betting.
This is often favoured by professional punters, who have deep statistical knowledge of certain teams, and can get high returns on successful bets. A proposition bet, for example, would be when a bookie offers odds such as “Argentina first shot on goal”. Essentially, a proposition bet can be made on anything variable within a game—even what colour the manager’s tie will be that day. The bookies simply offer the odds they are comfortable paying, and it’s up to the punter to decide whether they believe it’s a good bet or not.
While there are many different nuances to betting on the Premier League, with many large bookmakers offering upwards of 100 betting markets on each game, these are the three main ways to bet on the Premier League.