The eternal struggle between bettors always arises in regards to one thing, low odds vs high odds.
With sports betting and betting in casinos seeing a spike in popularity over the last couple of years, it’s no surprise that the debate whether players should go for low or high odds betting has heated up again.
For this reason, we’ve compiled a guide that will make your decision on whether you should play low or high odds easier.
Let’s get started!
- 1Top 10 bookmakers sorted by odds  - Updated list
- 2First things first - What are low odds?
- 3What about high odds?
- 4The odds range value explained
- 5The confusion of odds and probability
- 6Betting low on high odds vs. betting high on low odds
- 7Which one is better? Betting low on high odds or betting high on low odds?
- 8Low odds and high odds betting strategies
- 9Pros and Cons of low odds betting
- 10Pros and Cons of high odds betting
- 11Frequently Asked Questions about betting on low odds and high odds:
- 12Should you bet low on high odds or high on low odds?
Top 10 bookmakers sorted by odds  - Updated list
First things first - What are low odds?
What about high odds?
Just like with low odds, many people get confused by the name when it comes to high odds. High odds in betting means that the payout you might win from these bets will be very high, but the chances of winning the bet are quite low.
Betting on high odds gives bettors a chance to potentially rake in massive amounts on a somewhat small bet. Of course, the chances of that happening are slim, which is why high odds are also often referred to as slim odds.
The odds range value explained
The confusion of odds and probability
As mentioned before, when looking at lower odds vs higher odds, people often get the meaning of the confused. A lot of this is due to people confusing odds with probability. Probability can be defined as the number of times we can expect an event to occur during many trials, and it always ranges between 0-1. However, odds are different. They’re the probability that an event will occur divided by the probability that the same event will not occur.
We can explain this more easily with an example of dog betting. If a greyhound participates in 100 races and manages to win 25 and lose 75 of them, then the probability of that dog winning is 25/100 = 0.25, or 25%. The odds of that greyhound winning however would be 25/75 = 0.333, or 1 win to three losses.
Betting low on high odds vs. betting high on low odds
Which one is better? Betting low on high odds or betting high on low odds?
With betting high on low odds, the wins and losses are reversed. Over time, players might end up amassing quite a big pool of losses if they’re not lucky enough to snag a win, but if they do end up getting one, they’re golden.
Like with all betting, the most important part of betting low on high odds and betting high on low odds is learning to best manage your money. This way you can make the most out of your experience and know when it’s time to cut your losses and take a break.
Low odds and high odds betting strategies
We’ve already gone over some of the most popular betting strategies when it comes to betting on low odds and high odds, but that doesn’t mean they’re the only ones. Unsurprisingly, some of the best sports betting strategies like money management, software enhanced strategies, and only betting on one team can be applied to low odds and high odds betting, so looking into those might be a good idea.
Something else that might help you out, especially if you’re new to sports betting, is looking into different types of sports betting. Some sports betting is easier to grasp than others, and one sport you might want to look into is football.
As one of the most popular sports globally, you’ll find that profitable football betting is a very real option. You can find some great guides on how to read soccer odds (including soccer dropping odds and closing odds), how to win at sports betting, and how to avoid sports betting mistakes online to make things a bit easier.
Pros and Cons of low odds betting
- Positive return over time
- More chances to place separate bets
- More betting opportunities
- Less time to research bets
- Bigger losses
Pros and Cons of high odds betting
- Potential to score big wins
- Low stakes can have big payoffs
- Easier to accumulate losses over time
- Less betting opportunities
Frequently Asked Questions about betting on low odds and high odds:
One isn’t necessarily better than the other. Both high and low odds offer their unique advantages and disadvantages. Depending on what type of betting experience you’re looking for, one or the other might suit you best.
No. Chances are more closely related to probability. You can read more about the differences between probability and odds in certain paragraphs of this guide.
Betting on low odds long-term is a “safer” way of betting, it isn’t necessarily better. Since the chances of winning when betting on low odds are higher, the player can accumulate solid winnings over time.
Betting on high odds long-term might minimize a player’s losses if they place low stakes bets, it isn’t necessarily a better betting strategy. If the player does manage to win however, their wins will be much bigger than their stake.
Should you bet low on high odds or high on low odds?
The question of whether players should choose low odds vs high odds betting seems to be the center of a lot of confusion. With this guide, we hope we were able to clear up some of that confusion and help you make the choice that’s best suited for your betting needs.
In the end, both low odds and high odds betting offer some great positives that bettors can take advantage of, it all depends on what they want out of their betting experience.