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Learn to read odds

A few short steps — with a real match as the example, when there is one.

  1. Odds are a price 

    Odds are the number the bookmaker multiplies your stake by if the outcome happens — your stake is included. If it doesn't happen, the stake is lost.

  2. Odds and chance aren't the same thing 

    Odds can be turned into a chance, but the bookmaker has built in its margin first. That makes the chance in the odds look a little bigger than it is. Oddbert shows the chance directly.

  3. A chance isn't a promise 

    Even when Oddbert gives a team a big chance, there are still plenty of matches like it where that team doesn't win.

  4. Best price and Danish licence 

    Bookmakers offer different odds on the same outcome. Oddbert shows the highest among those with a Danish licence — but a high price doesn't mean the outcome is likely.

  5. 1 · X · 2 

    A match's three outcomes are often written 1, X and 2: home win, draw and away win.

Every word explained

Odds
Odds are the bookmaker's price on an outcome: the number your stake is multiplied by if it happens. Your stake is included. If it doesn't happen, the stake is lost. For example, odds of 2.00 match about a 50% chance — before the bookmaker's margin.
Margin (the bookmaker's cut)
The bookmaker builds a margin into every price, so the odds always pay a little less than the chance is worth. That's why bettors as a whole lose over time. Oddbert's market figures have the margin taken out.
Best price
The highest odds on an outcome right now among bookmakers with a Danish licence. Prices move all the time, so always check with the bookmaker. A high price doesn't mean the outcome is likely.
Chance
How often Oddbert expects something to happen in matches like this. It's never a guarantee: even the most likely result goes wrong now and then.
Draw
The match ends with both teams on the same number of goals. A draw is its own outcome, next to a home win and an away win.
1 · X · 2
The classic way to write a match's three outcomes: 1 is a home win, X a draw and 2 an away win.
Combination
Several matches combined into one bet. Every one must come in or the whole stake is lost — so a combination is far less likely than each match on its own.
The market (fair price)
The bookmakers' combined view of the match, turned into chances with their margin taken out. Oddbert measures its own numbers against it.
Price gap
When one bookmaker's odds are clearly higher than the market's fair price. It's a difference between bookmakers — not a sign the outcome will happen.
Calibrated
The numbers hold up over time: when Oddbert says "about half", it should happen in about half the matches. You can check it yourself under Results.
Both teams score
Whether both teams score at least once. It's settled on the 90 minutes plus stoppage time — extra time and penalties don't count.
Over/under 2.5 goals
How many goals are scored in total. Over 2.5 means 3 or more, under 2.5 means 2 at most. There are no half goals, so the line is never hit exactly. Settled on the 90 minutes plus stoppage time.
Closing line
The bookmakers' odds just before kick-off. They're the best-informed price, so they're what Oddbert is measured against.
RPS
A score for how close a forecast came to the result — lower is better. It punishes a forecast more the more confidently it pointed the wrong way.
CLV
Closing line value: whether a price was better than the closing line. Beating it again and again means you priced well — but it's no guarantee of winning any single match.
Danish licence
Only bookmakers licensed by the Danish Gambling Authority may offer betting in Denmark. With them you must be 18+, register with MitID and set a deposit limit, and they must respect ROFUS. Oddbert only shows their prices.
Market-anchored
Oddbert's numbers start from the market's fair price and move it only a little based on the model. That's why Oddbert stays close to the bookmakers.

If gambling is taking over

Gambling costs money. If it's taking up too much of your time or money, free and anonymous help is available — or take a break from odds.