Looking to understand what are the different types of tennis betting odds and what do these odds actually mean and imply. Here’s our guide on the same which drills down to the basics for amateur tennis punters and explains the tennis odds in detail.
When it comes to placing wagers, tennis offers numerous winning opportunities including two-way, correct score, over/under, and odd/even betting. Its unique scoring system, both in-play and pre-game, make this sport one of the most lucrative gambling alternatives available today. Usually, tennis matches are contested over three sets or in case of the Grand Slams, this changes to five sets and with so many events within a tennis match, it makes tennis betting very popular among punters.
Before one starts betting on tennis or on any other sport, it is very necessary to understand the concept of tennis betting odds and what do the odds actually mean.
Interestingly, different countries could follow different formats of representation of betting odds and while they all mean the same – i.e. a particular winning tennis bet would yield the same returns irrespective of the format used – it’s good to understand the differentiation between them.
In a bid to understand what these odds mean, it is imperative that one is in a position to accurately discern between the different types of odds utilized by bookmakers.
There are three main kinds of odds used for tennis games:
- American, and
Fractional Tennis Odds
Fractional odds are arguably the most commonly used in the United Kingdom, but are increasingly being substituted for other formats since it is difficult to compare them against other types of odds. As the name suggests, fractional odds are displayed in the form of a fraction whereby your stake is the denominator while your expected profit is the numerator.
Potential returns are calculated using this formula: ((potential returns/stake) +1) * stake = return.
For example, if Djokovic is given 7/1 odds to win the French Open, then your probable returns on a $50 stake would be ((7/1) +1) * 50 = $400.
Decimal Tennis Odds
On the other hand, unlike their fractional counterparts, decimal odds are straightforward. To get your bet returns, all that is required is for one to multiply their stake by the odds.
Case in point, where odds are 2.1 for player 1 and 1.7 for player 2, a stake of $100 on player 2 would result in potential returns of 1.7*$100=$170.
American Tennis Odds
Also referred to as money line, American odds take the form of a positive or negative figure. A positive figure shows the amount of profit one would make from a £100 bet, while a negative figure indicates the amount of cash one should bet with to realize a £100 profit.
Noteworthy, it is not compulsory that one bets the money line amount i.e. £100; gamblers are free to bet any amount over or below.
The formula used to calculate returns for a positive money line is money line odds * (stake/100), while that of negative money line odds is (100/negative money line odds) * stake.
Assuming Maria Sharapova was taking on Angelique Kerber, with the latter’s odds being -107 while the former’s odds are +120, potential returns for a $30 bet on Angelique would be 100/107 * 30 = $28.04. Conversely, returns for a similar bet on Sharapova would be 120 * 30/100 = $36 return.
What Do these Odds Mean?
Betting odds are the representation of the probability of a particular market win. Odds are prepared according to what bookmakers think is the probability of an event happening, like a player winning a game, set or a match or any such other example.
Take the example of a match between players A and B where the odds on the top-ranked player winning is 1.65. This shows that the probability of player A wining is 1/1.65×100 = 0.6060 ×100 =60.60% is the win probability of top-ranked player.
For beginners, it is important to know the win probability represented in the odds to maximize the chances of winning each bet.
How these odds work:
The amount of money you can win from a particular bet is determined by the rate of odds. Take the above example, in case you bet on the stronger player, the winning odds are 1.65. We can calculate the amount of win by the below-given formula.
Profit on bet = (stake × odds) – stake
For example, your betting stake is 50$. Your profit will as follows.
Profit = (50 × 1.65) – 50
Profit = 82- 50 = 32$
From the above betting amount of 50$ with odds of 1.65, you can earn 32$. This profit is possible only if you win the bet, in case of losing the bet, you are going to lose 50$.
Odds Not Always True Representation:
Generally, it is considered that odds are the real probability of a betting market result and most of the times it is true. This doesn’t mean, they are always the true representation of the final result.
Tennis game involves only two players most of the time and it has produced upsets probably more than any other top game. This is where punters need to recognise the markets which do not give out the right probability of an event and try to maximise profit.
A keen observer of tennis can judge some of the upsets in the making and can adjust the bets according to the developing scenario. For example, sudden fitness problem to a high-rank player and better performance of a weaker player can be the signs of upcoming upset.
Having understood how to interpret the different kinds of tennis odds, it is imperative that one figures out how and when to place bets.
Ideally, the goal is to diversify one’s bet slip in order to maximize winning chances while minimizing risk. This can only be achieved by conducting extensive research on the players, match statistics and championship prior to placing your bet.
In essence, betting strategies should always be based on pure facts. Without proper research, it will be impossible for one to make logical predictions. For instance, Wawrinka beat Nadal in 2014 despite the latter’s 82.14% probability of winning. This defeat was easily predictable based on Wawrinka’s winning streak at the time.
More on this can be found in our tennis betting strategies section. You can also check our section on the various tennis betting markets here.