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For all those only starting out. Sports betting is all about betting against bookmakers. It is quite different from betting against others the way many people do. It is also not the same as pools betting. Bookmakers are betting businesses that provide the platform for betting activities. They also provide the prices and expected winnings on each football match.

All you may need to do is to ascertain the outcome of a particular match or a series of matches. You do not need to predict the exact score line. Even though you'll find bets in which you can predict the exact score line. The price per match will be determined by how hard or difficult it is. The easier the match, the lesser the potential returns. The harder the match, the larger the potential returns.

Let use soccer (football) for illustration:

Assuming TEAM-A on top of the league table wants to play TEAM-B who are at the bottom and out of form at home, all of us know there is a extremely high likelihood that TEAM-A would win if in good form plus all the advantages to their side. The cash you are expected to win if you bet TEAM-A will beat TEAM-B will be very small in fact.

Conversely, if you say TEAM-B will beat TEAM-A, then the expected monetary returns could be high. It's going to be high also if you say it shall end in a draw.

Predicting that TEAM-B, the under-dog will beat TEAM-A, the odds might be 4/1. That suggests that if you bet with $1 you will win $4 plus your initial $1 that makes your total earnings $5. I've used US dollars above as an example. Most bookies operate in Pound Sterling, dollars and Euro. So if you want to bet on it, what will you do? Start analyzing and seeing possibilities.TEAM-A to win at 2/7 simply means to win $2 you should play with $7. You may need to ask yourself is it worth risking $7 to win $2? Or will you back the weaker TEAM-B to win at 4/1? You only need to put in $1 to win an extra $4. But will TEAM-B beat the stronger TEAM-A at home? The higher the risk the higher the potential returns, the lesser the risk the lesser the potential returns. That is where your football mind and knowledge is needed.

Let's Understand Prices/Odds more using real soccer teams for example.

Take a look at this match within the fixture and price. Lets say Chelsea F.C. to beat Manchester City at home is priced at 2/5. Which is you bet with $5 to win $2. That's an overall total expected returns of $7.

(Always remember that the figure at the end is what you stake with as well as the one in front is exactly what you will win)

The match is 11/4 for a draw and 6/1 for an away win for Manchester City. It means 1/1. You play with $1; you win an additional $1. You play with $100 you win a further $100.

Not all odds are written in fractions. As in not written like 3/1, 1/5, 4/9 and so on. Some odds are written in decimals like 1.35, 2.42 etc. If you see 2.42, it simply means if you bet with one dollar, you will earn return of 2.42 dollars. What ever figure is shown, it means that it's what will be returned if you place $1. So you may calculate your expected earnings based on what you want to bet on.

There are also the American Odds presented in form -110,+220,etc. The Decimal odds seem to be by far the easiest to calculate. The bookies (bookmakers) can know what kind of odds they will be using. Actually some bookmakers enable you to pick the odd type that suits you. What ever Odd you use the result is the Same. On the flip side, chose only Odd type you are comfortable with.