Most important reasons to compare golf odds for this week
You may be wondering whether comparing golf betting odds is worth all the hassle? Well, firstly, we’re here to make sure that doing so is as easy and simple as possible. With our guide, we think you’ll be able to see that comparing golf odds for this week, today, or any time in the future is quite straightforward once you have the right tools.
There are many reasons for comparing the best golf odds. It’s a general test to see the quality of
betting odds
you can expect from your preferred bookmaker generally, and to ensure your bet is strategically sound. Perhaps no reason though is more important than the simple fact that better golf betting odds means more money in your pocket should your bet be successful.
How do bookmakers determine their golf betting odds?
Many of us have a rather grandiose idea of how bookmakers come up with their best odds for golf or any kind of odds for that matter. You may imagine they have wisdom beyond yours, and that makes understanding them and finding the best incredibly challenging.
Like with
NBA betting odds, the reality of golf betting odds is quite a bit simpler. We’d say the process for the bookmaker is three-fold:
Firstly, it’s in part what the bookmaker thinks will happen. Remember all odds are an implied probability, based on stats and reasoning.
Other factors include outside forces. For instance, if people bet heavily on one market, the bookmaker must adjust their odds to reflect that. Without doing so, a market could leave them heavily out of pocket. This provides an advantage for you, as the public doesn’t necessarily bet in the most logical way.
Finally, they must stay competitive with other operators, meaning their golf betting odds cannot stray too far from the consensus. Put simply, betting odds on golf have a lot less freedom than you imagine – and that can provide opportunities.
Why do odds vary between bookmakers?
If you’re not already, you should be aware of the overround to understand your golf odds for this week, or your
UFC betting odds, and any other odds for that matter. This is the bookmaker’s advantage over you, determined by the number above 100% all possible markets come to. The closer to 100% this is, the fairer your odds. Some operators simply have better golf betting odds than others, so their odds will reflect that across the board, to bake in that profit margin.
There’s also the desire of bookmakers to distinguish themselves from other odds and stay competitive in a tough market. Both of these guarantee an array of odds for any market.
A stumbling block for many people is that they look at the best odds for golf, and find them to be in a format they don’t understand. While this can be frustrating – especially when no option to change them is present – it really is a very simple thing to understand.
Here, we’re going to show you how to easily understand how your returns and profits work across all three major golf betting odds formats, so you can tackle any kind of odds you’re presented with. If you’ve often found some of these intimidating, you may be amazed to see just how simple they really are.
All betting odd formats are essentially saying the same thing, and decimal odds are a nice, simple example. Let’s start with the principle of decimal odds. All they do is show you how much you get returned for every Euro wagered. So, if the decimal was 3.0, and you bet €1, you’d receive €3, meaning €2 in profit.
To use a specific example, Webb Simpson has 13.0 odds to win outright the Wyndham Championship based on a real-life market available at the time of writing. That means if you bet €1, you’d get €13 in return. Note again, these are returns, not profit, and you must deduct the stake to understand the profit you’ve made.
Fractional odds explained
Now we’re onto the second example, we can press upon the importance of this point: all betting odds on golf mean the same thing. Fractions are also likely the kind of odds Irish players will know best, as they’re most commonly used across bookmakers here. Still, it’s surprising that despite how common fractional odds are in Ireland, they’re still not understood by many – who merely place their bets simply hoping the golf betting odds reap worthwhile rewards.
Well, wonder no more, as to how fractional odds work can be understood in a matter of moments. Remember our previous golf betting odds example? Well, let’s take that 13.0 decimal chance of Simpson winning the Championship and convert that to fractions. As a fraction, that looks like 12/1, which means exactly the same thing as 13.0.
It’s just as simple as decimal, the first number is how much you get in profit from the second number. So, if you bet €1, you get €12 in profit – the same as with the decimal odds.
Finally, we move onto American odds. Now, Irish players may not be as familiar with American odds as the other two examples. However, we’re talking about golf betting odds, and as we know these markets are very big in the US, so you may come across them when looking for the best golf odds.
So, let’s take a look at that example and see how this works. 12/1 or 13.0 odds converted to American odds come out as +1200. Now, it's important to note that this format comes in plus and minus forms. The plus sign signifies that the market represents an underdog while the minus sign is a favourite.
American odds tell you how much you would win for every €100 staked. So, if you bet €100 on Simpson as before, you’d receive €1200 in profit. Logically then, we can divide both by ten and see we’d get €12 in profit for a €1 stake. Negative numbers work the opposite way, showing you how much you’d have to bet to get €100. To use a similar example, Simpson has a -700 chance of making the cut for that Championship, meaning you’d have to bet €700 to get €100.
How to calculate the expected value on golf odds
One really interesting way of wrapping your head around the quality of golf betting odds is by using something called expected value. While most odds valuations base their quality estimations on how that market is likely to do over a single wager, expected value expands this to see how well it would do if you were to place that same bet many times over theoretically.
This equation simply works out a wager’s value using the implied probability of an event (e.g. Team A winning) and multiplies that amount by your potential profit. It then uses the implied probability of that event not happening (Team B winning plus a draw) and multiplies that by your potential loss (your stake amount). The latter number is then subtracted from the first.
By doing this, you’ll come out with a positive or negative number which indicates how much you would win or lose per wager. It’s more complicated than anything else we’ll discuss related to golf betting odds, and the maths cannot be covered in detail here, but if you wish to explore expected value further, it can give valuable insights – especially where you want to test your probability versus the bookmakers.
Why loyalty doesn't always with pay with golf odds
Many of us will stick to a single bookmaker our entire lives. So, there’s a big emotional pull there – one which may feel stronger than the importance of betting odds on golf. Well, to put it bluntly, all bookmakers are a business, no matter what fuzzy nostalgic feelings we have for them. They want to make a profit, just like you do when looking for the best odds.
That’s why we encourage you to register with as many operators as you feel like. The more bookmakers you’re signed up to, the larger selection of golf betting odds you have access to – and the more chances of finding the finest golf odds this week. And hey, if that old favourite is the head of the golf betting odds pack, then keep using them. Just don’t let your loyalty get in the way of the best deal when such generosity isn’t always reciprocated.
Other factors to consider when comparing golf odds
Comparing betting odds on golf is multi-faceted. Remember, for starters, that odds often change, even before a golfing event begins. An injury, for instance, or changes in the weather can have huge impacts on a game like golf.
There’s also the impact of betting activity on golf betting odds, as discussed earlier. Not only that but golf is very much a game with a healthy promotional scene. This means bookmakers often capitalise on big events with promotions. This can impact the value of your bet, either directly through improved odds using things like enhanced odds, or through free bets or any other kinds of incentives for you to pick them over the competition.
If the difference between golf betting odds is small, you may decide these represent more value for you, or you may simply decide that you prefer the experience of one bookmaker over another. We always want you to get the best deal on all your odds, but we know that isn’t the only factor influencing your decision on where to bet.
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Golf odds comparison vs live betting
All our examinations on golf betting odds have thus far been focused on pre-match examples, and there’s a very good reason for that. Quite simply, live betting odds are often much harder to compare accurately in time. That said, this isn’t as much of an issue when it comes to a slower-paced game like golf. It’s actually a really big advantage the sport has compared to many others, where comparison would be near impossible.
We still very much recommend you respond quickly if you’re determined to find the finest odds you can – perhaps selecting a couple of trusted operators you can switch between to ensure quality results. You can also utilise promotions and ensure the extra value that way. You may still need to compromise a little with live betting, even in golf, as you should never allow the pursuit of the best golf betting odds to get in the way of your love for the sport.
Conclusion - Golf lends itself to analysis
In a way, golf is the ideal spot for odds comparison because of its pace and focus on strategy. The game positively encourages you to look at it with an analytical eye ideal for golf betting odds examination. Take advantage of that depth and slower pace to analyse whether you’re getting the best odds, alongside the accuracy of your predictions. Remember the quality of odds doesn’t matter much if you end up losing anyway.
Lastly, while the pursuit of the greatest odds is a noble one, by sticking to quality bookmakers using our recommendations, you’ll always at the very least get good ones. Our expertise doesn't begin and end with golf either, so look out for tips on the
horse racing odds, and
football odds for today, if you are considering following more than one prominent sports option.
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Golf Betting Odds FAQ
🏆 How do you find the best golf betting odds?
When it comes to betting on our favourite sports, we naturally want to get the best betting odds possibly. If that sounds like you and there’s nothing you like better than watching a world-class round of golf, then we’re here with the perfect guide to discover everything you could possibly want to know about making the most from golfing betting odds.
Really, the point behind any promotion is to add value to your betting experience, including the individual bets themself where possible. This probably means you’re wondering if there are any bonuses which can impact the quality of the odds themselves, alongside other value they might add. We understand the importance of promotions for many when it comes to choosing a bookmaker or market, so we’ve covered both in our golf betting odds guide.
❓ Why can’t I understand the odds on this golf betting page?
If you’ve found yourself looking at the golf odds of an upcoming event or tournament only to find yourself flummoxed by an unfamiliar betting odds format, then you probably think there’s no way of understanding what they mean in any depth. Not only can we help you understand them, but you’ll be amazed by how quick and easy it can be.
