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Betting on Penalties | Best Bookmakers for Betting on Penalties in 2024

Football players dread the pressure of penalties, but the fans love this part of the game. This is when the intensity reaches the climax and football fans are brought to the edge of their seats.

In this guide we look at the best bookmakers for betting on penalties and the penalty betting markets they offer.

With talk about betting on a penalty being awarded, how to bet on penalty kicks and other specific details that can help you make profitable football betting.

Penalties can be the ultimate tiebreakers in decisive cup matches, or simply influence the outcome of individual games. Betting on penalty shootouts is a thrilling affair, but also one affected by high volatility. Football is the easiest sport to bet on and given the appeal of soccer betting the biggest bookmakers in the world offer this market.

When it comes to penalty betting in football, these are the best bookmakers with statistics where such wagers are accepted.

Best Bookmakers for Betting on Penalties in 16 June 2024 – Updated List

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What are penalties in football?

The name is self-explanatory:

  • Penalties usually serve the goal of punishing forbidden actions in the box.
  • When a player commits a foul or a handball in this area, the referee dictates a penalty for the other team.
  • Any player can try to convert the penalty into a goal during regular season matches or football tournaments.
  • Punters can bet on the penalty to be scored or missed at any of the major bookmakers. This is one of the first things to figure out after learning how to bet on football and anyone can do it.

What are penalty shootouts?

Penalty shootout betting rules are the same, but the purpose of these penalties differs.

  • Those who have tried Champions League betting and Europa League betting know that some matches require extra time to determine the winner.
  • During the playoffs when teams can’t win in 90 minutes or extra time, the winners are determined after penalties.
  • Five penalties are scored initially and in case of a tie, each team will fire another penalty shot until one player misses.

Essential facts for betting on penalties

Learning what is a penalty kick in soccer takes only a few seconds, but mastering betting on penalties is much more difficult. Luckily there are penalty tips that can be incorporated into overarching football strategies that increase the odds of winning. These are some of the things to consider when placing a bet.

Derbies and high stakes matches have more penalties – when the stakes are high and there’s a rivalry, teams play more aggressively and fouls are more likely to occur in the box

The first penalty is scored more often – when it comes to penalty shootout betting the first penalty is the most likely to be scored. The percentages decrease for the following shots.

Some referees have an itchy finger – in championships where VAR isn’t used, the impact of the referee on the number of penalties awarded can be significant.

Defenders commit more fouls that lead to penalties – players in the backline are usually responsible for the fouls, while the strikers are the ones who try to convert them into goals.

How does betting on penalties work?

The simplicity of betting on penalties in football doesn’t imply the absence of worthy betting alternatives. Once you learn what is a penalty in football, there are several betting options to consider. When players compare bookmakers they can also take a look at these special wagering options.

1. Bet on a penalty to be awarded
Before the game begins, you can bet on the penalty kick awarded yes/no market. You don’t need to predict the team that gets it and the penalty being converted or not. You win or lose if your penalty awarded prediction proved to be correct.

2. Penalty awarded and scored
Savvy punters can spice things up and bet on the penalty to be awarded with a twist. The odds are better if you also try to predict whether the penalty is scored or not. These types of sports betting options carry high odds which makes them more appealing.

3. Penalty awarded and sending off
You can boost the odds offered for betting on penalties if you include the sending off event. In case of blatant fouls that prevent players from scoring, the penalty is frequently accompanied by a player being sent off.

4. First goal from the penalty spot
If you want to make money betting on football and fancy penalties, this is a good market. This type of penalty card betting will deliver superior odds, but it is a highly volatile and unpredictable market.

5. Home and away penalty goals
The easiest solution for betting on penalties is to predict the team scoring from the spot. You can bet on the home team to score from a penalty or the away team to score from a penalty and enjoy some truly exciting odds.

Tips and tricks for penalties betting

Betting on penalties is a risky affair because of the unpredictable nature of these events. Most penalties are scored, but the odds on this market are low, hence less appealing. Betting sites with live streaming provide some of the best options for those who want to mix penalties with live betting. These basic tips can be used both pregame and in real-time to boost the odds of winning


👉 Choose derbies for penalty betting – championship deciding games and those between rivals are more likely to produce penalties.

👉 Focus on aggressive defending teams – most fouls that lead to penalties are committed by defenders, so focus on those games involving teams with aggressive players in the backline.

👉 Bet on games that use VAR technology – on average there are more penalties awarded in games where video assistant referee technology is used. 

👉 Seek top odds for betting on penalties – choose the best bookmakers for betting on penalties to enjoy superior odds.

Pros and cons of betting on penalties


  • More exciting than outright betting
  • High odds and multiple betting options
  • Suitable for pregame and live wagering


  • High volatility and risk of losing

FAQ: Your questions about betting on penalties answered

They don’t affect the outcome of the draw no bet at all. The stakes are refunded if the match ends undecided and punters can place a new bet on the penalty shootout.

Favorites have no advantage whatsoever when it comes to penalties shootout. The difference is made by the individual players and their ability to keep their composure during these intense moments.

On average, penalties are converted in 75% of the cases. The first penalty has a higher percentage and the next ones are slightly less likely to be converted into goals.

The Ligue 1 and Serie A have traditionally been the best top leagues for betting on penalties. Since VAR was introduced, the Spanish first division caught up and these numbers change every year.

Try the exotic football market of penalty betting

Betting on penalties can be an exciting activity for football fans who seek higher odds. This type of bet is apparently random and punters don’t seem to have a reliable way to improve the odds of winning. There are multiple markets at the best bookmakers for betting on penalties and truly appealing odds. With the right strategy and the use of smart penalties betting tips the house edge can be reduced. The risks posed by high volatility are always there, but they can be mitigated with the right approach and attitude.