Every sportsbook offers betting odds that define the probability of an event to happen. They usually call these betting odds, and they are set by an odd compiler (or odd trader). For example, if odds show 5/1, you will get £5 for a £1 bet. The higher the odds, the more money you will win.
However, higher odds mean lower certainty. Let’s say that Manchester United plays against a club which ranks much lower than them. If they are a favourite in the match, the odds would be pretty low. Placing your money on this club would mean that you are more likely to win, but the sum would be pretty much insignificant.
On the other hand, placing your money on the underdog club means winning more money, but the chances of that happening would be very low. The beauty of sportsbetting lays in the fact that anything could happen and if you are an avid football fan, you can analyze the match and earn money from it.
The odds can be fractional (5/1), decimal (5.00), or moneyline (+500). The fractional are mostly used in the UK, decimal in the EU, and moneyline in the US. All of them state the odds using a different formula. Many online sportsbooks offer at least two types of odds. Make sure to study one of the systems and use odds converter in order to understand others if you register on a casino that uses odds which you find confusing.