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Low Odds vs High Odds – Should you bet low on high odds or high on low odds?


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!

Top 10 bookmakers sorted by odds [2020] - Updated list

Odds rank
Bookmaker
Betting Payout
Overall Payout
Rating
Play
1
Football: 99.08%
Basketball: 98.45%
Tennis: 96.33%
Overall Payout: 97.95%
Rating 9.99 out of 10
2
Football: 97.73%
Basketball: 97.50%
Tennis: 95.86%
Live Betting: 93.64%
Overall Payout: 96.18%
Rating 9.98 out of 10
3
Football: 99.11%
Basketball: 98.25%
Tennis: 95.92%
Overall Payout: 97.76%
Rating 9.97 out of 10
4
Football: 97.10%
Basketball: 97.52%
Tennis: 97.44%
Live Betting: 93.04%
Overall Payout: 96.27%
Rating 9.92 out of 10
5
Football: 96.87%
Basketball: 97.21%
Tennis: 96.01%
Live Betting: 92.71%
Overall Payout: 95.70%
Rating 9.73 out of 10
6
Football: 95.68%
Basketball: 95.87%
Tennis: 94.25%
Live Betting: 94.15%
Overall Payout: 94.98%
Rating 9.93 out of 10
7
Football: 95.68%
Basketball: 95.87%
Tennis: 94.15%
Live Betting: 94.18%
Overall Payout: 94.97%
Rating 9.74 out of 10
8
Football: 95.68%
Basketball: 95.79%
Tennis: 94.15%
Live Betting: 93.62%
Overall Payout: 94.81%
Rating 9.97 out of 10
9
Football: 94.90%
Basketball: 91.75%
Tennis: 94.78%
Overall Payout: 93.81%
Rating 9.93 out of 10
10
Football: 94.59%
Basketball: 92.31%
Tennis: 91.88%
Overall Payout: 92.93%
Rating 9.97 out of 10

First things first - What are low odds?

Contrary to what many people might think, low odds in betting don’t mean that the player has lower chances of winning the bet. Low odds, or short odds as their also often called, actually mean that the player has a much higher chance of winning the bet.

The name might be a bit confusing, but low odds got their name because the winnings you can get from them are often very small compared to your stake.

This doesn’t always have to mean that you won’t make nice winnings from making low odds bets, but in general, they are the “safe” way to go. Betting on low odds is considered one of the best ways to get familiar with the betting scene for new players that don’t have a lot of experience.

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 low odds range value

Whether you’re looking into high or low odds betting, you’ll see that both categories of betting have a different range value that defines them. With low odds, this range value is most often between odds of 1.20 to 1.40.

In some cases, you’ll see punters going up to 1.60 with what they consider to be low odds. These range values will provide you with a relatively small return for your stake, but you’ll have higher chances of winning your bet.

  • The high odds range value

Following the previous paragraph about the range values for low odds, we can deduce that high odds are considered the ones above 1.60. In different terms, high odds betting could be considered underdog betting on a team that has odds of 50-to-1 against.

The chances that you’ll win these types of bets are incredibly slim, but if a bet does end up panning out, the amount you’ll win will be much higher than your initial stake.

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

Following a betting guide can often be a good idea when sports betting, as it might help with your chances of winning. There are hundreds of guides and strategies that players can look into when it comes to low percentage odds vs high percentage odds betting.

Some of them are more general such as live betting strategies, strategies for particular sports like a complete tennis betting strategy, sports betting money management strategy, but with odds, high or low, some of the most popular strategies are betting low on high odds and betting high on low odds.

It’s easy to see the appeal in these strategies and why they’re so popular. High stakes low odds betting, for instance, is often used to make up for the small wins that come with low odds betting by betting higher stakes. This way the chances of winning are high thanks to the low odds, and if your stake is high, the amount you’ll win will be bigger per your stake.

The opposite of high low odds can be seen with betting low on high odds. With the chances of winning being very slim on high odds, placing high stakes could mean big losses more often. This is why players place low stakes on high odds. This can minimize their losses, and if they do manage to win, the winning amounts are still high regardless of their low stake.

Which one is better? Betting low on high odds or betting high on low odds?

Tip

When you examine both of these strategies more closely, you can see that they both strive for the same goal. None is better than the other, it all depends on which one works best for the player specifically. With betting high on low odds, players can slowly build up a nice stack of winnings since the chances of a loss are lower. However, if you do lose, you’ll lose quite a high stake.

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.

Also, betting on low odds corresponds to the “over 0.5 goals” and “over 1.5 goals” markets, while betting on high odds means you can also focus on the “under 1.5 goals” bet.

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

PROS

  • Positive return over time
  • More chances to place separate bets
  • More betting opportunities

CONS

  • Less time to research bets
  • Bigger losses

Pros and Cons of high odds betting

PROS

  • Potential to score big wins
  • Low stakes can have big payoffs

CONS

  • 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.