The first thing to know about odds is that the betting agency sets them and they can change in the days and weeks leading up to a major sporting event. Keep an eye on the odds up to the day of the event, as different factors can change the chances you will win.

In general, the lower the odds, the lower the payouts, but the higher your chance to win. While you shouldn’t assume any bet is a sure bet, as upsets do happen, there are certain bets that have a higher chance of paying out than others.

With higher odds, you will win a bigger payout but you are unlikely to win. Be careful that you don’t put all your eggs into a risky basket or you could end up losing money.

Low Odds mean Low Payouts

The odds at Unibet can be a bit tricky to understand if you don’t have some knowledge before you start betting. It’s a good idea to start out with some lower risk bets.

While you can never predict the outcome of a sporting event, there are certain odds that are more likely to pay out than others. When you are just getting started, don’t take too many chances betting on the underdog. Go with the favourite in a lopsided event and hope there is no miracle upset.

While this might not be as fun rooting for the favourite, your bank account is more likely to benefit than if you stuck to underdog betting. Build up your foundation with some lower risk bets, so that you can move on to a riskier approach down the road if you desire.

Shoot for Moon

Online sports betting continues to grow, and there is ample opportunity to get in on the action. If you have enough money and feel really confident, go for a long shot with a high payout. It’s a good idea to not spend all your money though, as it could wipe you out in a hurry.

After you have won some money on easier to win bets with a lower payout, consider using that pot of money to bet on something riskier.

Horse racing is a good example. The races are so short that underdogs with high odds can sometimes sneak in a top 3 finish and you can cash out big time.

Pay attention to Shifting Odds

Make sure that sports betting is legal in your state, and yes it is true that odds can change. In fact, sometimes odds are first set a year in advance of a major event, like the Super Bowl, but as the event gets closer the odds change. The further out the odds are set the more they are going to change.

What you care about are the odds right before the event takes place. The money you win often correlates to what the odds were when the event started.

The biggest thing to look out for is if a key player gets injured or anything else changes that would drastically affect the chances of a particular team winning. Pay attention to everything about an event as it gets closer, so you know if the odds will shift.