Sportsbooks often offer different odds for the same type of bet

[Pmalek]

Here is a piece of information that many of you have probably noticed. But if you aren't that much into betting on sports, you might not know about it.
If you bet on football/soccer, you know that there is a type of bet called Double Chance. In such a selection two outcomes of the match result in a win of your bet.

Take a look at the picture below.



A Double Chance on Benevento win/draw pays 1.69. Just above that selection, you can place an Asian Handicap bet +0.5 on Benevento. That is the exact same bet, the bookies just call it differently. The AH +0.50 bet is valued at 1.76 compared to 1.69 for the exact same bet. If you place an AH +0.50 bet on Benevento and the match ends in a draw - you win. If Benevento wins - you win. If Benevento losses - you loss, same as with the Double Chance bet.

The bookies often use these kind of tricks. Here is another one for different bets.



A Draw No Bet means that if the team you bet on draws the match, your bet wont be lost. It will be voided, and you will get your stake money back. If the team you bet on wins, you also win your bet. In the screenshot you can see that a Genoa Draw No Bet has an odd of 1.88. A few lines above, you can play an 0 Asian handicap on Genoa, which is the same type of bet, but the odds are slightly higher. 1.93 compared to 1.88. If the AH 0 match ends in a draw - you bet is voided. If your team wins - you win, and you lose your money of course if the opposition wins.


I have seen other types betting options that bookies use where you can bet on the same outcome, they just call it differently and offer higher-lower odds. Share your own examples of what you have discovered on different platforms while gambling on sports. 

[tomahawk9]

yeah, Asian Handicap offers better odds than DB, i guess it has to do with the higher vig in Double Chance and DNB. But here's another example of this "phenomenon"


(from Fortunejack)

First one is Double Chance (Home Win or Away Win), second one is the exact same thing but with a different name  Would like to know if this happens in other sports like basketball, hockey, NFL, etc

[STT]

I havent seen this double instance but there is sometimes such a multitude of bets possible that some are over looked and much better value then others.  I often see different odds for the same game in different places, can be quite tempting to try and balance the bias between different books in a rough arbitrage.   Wording will vary and popularity and maybe even the layout of the site can alter who finds the bet and it ends up with different odds.    Depending on whether I want to use up or spend a balance in one place, I might be more tempted to make use of the variety of types of bet possible in one place; also I'd argue crypto itself has an influence on the flow of cash vs dollar bets etc.

[Darker45]

There are actually too many kinds of odds in a single match and in different sports. Oddsmakers are giving all kinds of odds to sports bettors to let them bet in whichever way they want, but most of all to let them bet more. Sometimes, I even find some of these odds unreasonable such as the odd/even odds in basketball scores. These odds make sports betting highly similar to luck-based casino games.

Would like to know if this happens in other sports like basketball, hockey, NFL, etc

Most probably not as different sports have different rules. As far as I can remember, I haven't encountered DC in basketball games, only DNB but offered per quarter as there is no draw in basketball matches unlike in football.

A Double Chance on Benevento win/draw pays 1.69. Just above that selection, you can place an Asian Handicap bet +0.5 on Benevento. That is the exact same bet, the bookies just call it differently.

Those are not exactly the same bets. Betting +0.5 AH on Benevento is riskier or has a lower chance of winning than betting on DC draw/Benevento, thus the higher odds.

[covfefe_]

AFAIK, the odds are not made up by the bookies. It is dynamic and depends on how much people are betting on opposing bets. The bookies just keeps a margin. It's like the house edge on gambling site. They have a fixed profit margin.
The difference here is mainly due to people betting different amounts and differently in handicapped and no draw matches.

[dittoup]

Different markets different margins. Easy money for the bookies.
Inexperienced players will almost always choose the Home win in a 3-way market instead of the -0.5 asian line.
At least you need to know what Asian Handicap means before placing a bet on it right.

Asians are typically 2-5% less margin.

It's a reason why bookies list Home Draw Away,and the other sucker bets, on top and not the AH

[Natalim]

A Draw No Bet means that if the team you bet on draws the match, your bet wont be lost.

That's why the odds are different, I don't normally bet on that as personally as a gambler, I don't want my bet to be refund because of a "push" result or something. It's not attractive to actually, I want to lose or win, that's the only options I consider now as a gambler.

But thanks for sharing anyway, this is indeed very helpful especially for the newbies in sports betting, but for those who have an experience, we have been seeing this in a day to day basis.

[buwaytress]

AFAIK, the odds are not made up by the bookies. It is dynamic and depends on how much people are betting on opposing bets. The bookies just keeps a margin. It's like the house edge on gambling site. They have a fixed profit margin.
The difference here is mainly due to people betting different amounts and differently in handicapped and no draw matches.

It's a mix of both, I believe, with bookies getting the odds from providers (there already the discrepancies exist) and then their own margins and real-time stats of what's being placed on the market adjusts. Personal experience, you get the best odds on AH, but it's always worth checking a few seconds more to get better odds. On parlays, you'd be surprised what a big difference it makes.

[Lorence.xD]

Correct me if I am wrong but the bet means that you will win double more or less? This is a brilliant strategy for the bookies to earn more from individual players, I said that it is brilliant because in default bookies already earn with the normal one odds bet. On the player side though, this is a dangerous water to be treading in because this is a double or nothing for you and most winning/favored teams are low odds which means that even if you win, the profit margin from the original bet is not that high.

[Sanitough]

Correct me if I am wrong but the bet means that you will win double more or less?

No, there's no double win under what OP has demonstrated. If you look at the odds highlighted, it's only 1. something, there's no 3 which means double, and no bookies would give both sides a win for bettors, only one side will win regardless of the odds offered.

[Lorence.xD]

Correct me if I am wrong but the bet means that you will win double more or less?

No, there's no double win under what OP has demonstrated. If you look at the odds highlighted, it's only 1. something, there's no 3 which means double, and no bookies would give both sides a win for bettors, only one side will win regardless of the odds offered.

Thank you for the clarification, it confuses me when OP said in the title that bookies offer different odds for the same bet. From what I have understood, does that mean that one bet has two choices of odds to bet from am I right? Thank you for answering my question.

[Pmalek]

Would like to know if this happens in other sports like basketball, hockey, NFL, etc

Draw no Bet wagers are possible in basketball matches as well. However I have not seen Asian handicap lines like those we see in football.

Those are not exactly the same bets. Betting +0.5 AH on Benevento is riskier or has a lower chance of winning than betting on DC draw/Benevento, thus the higher odds.

How is it different considering the outcome of the match? If Benevento wins or draws the match, you win your bet. If Benevento losses, you loss both bets. How are you chances bigger or smaller?

That's why the odds are different, I don't normally bet on that as personally as a gambler, I don't want my bet to be refund because of a "push" result or something.

The Draw no Bet and 0 Asian handicap will both be voided if the match ends in a draw. Your answer offers no insights to why the odds are different. You speak about personal preferences.

Thank you for the clarification, it confuses me when OP said in the title that bookies offer different odds for the same bet.

They offer two kind of bets but you are betting on the same outcome. Take a look at my screenshots. If you make a 1X bet on a team that is the same as if you made a +0.5 AH bet on the same team. Your bet will be won if home team wins or draws the match. That's the point here. Same outcome - different wording - different odds.

[Ucy]

Interesting. The "Double Chance" sounds easy. ... Is it or no? I wonder if it has higher chances of winning (as the name seems to suggest?).
Is that a favorite choice for bettors? or perhaps is not that common or not evryone is aware that such option exist?

[Pmalek]

Interesting. The "Double Chance" sounds easy. ... Is it or no? I wonder if it has higher chances of winning (as the name seems to suggest?).
Is that a favorite choice for bettors? or perhaps is not that common or not evryone is aware that such option exist?

The double chance has a higher probability to go in your favor since you are betting on two out of three outcomes. But the odds are also much lower compared to a straight bet. It is hard to say if it it is a good choice or not. It depends on the person. Do you like bigger risks and greater rewards, or do you prefer a safer bet. Everyone is different.

[Fundamentals Of]

AFAIK, the odds are not made up by the bookies. It is dynamic and depends on how much people are betting on opposing bets. The bookies just keeps a margin. It's like the house edge on gambling site. They have a fixed profit margin.
The difference here is mainly due to people betting different amounts and differently in handicapped and no draw matches.

The odds would eventually change according to the bets made by the gamblers. So even if there are two sets of betting options which are more or less the same, the actual odds may not necessarily be the same.

Sometimes betting options are offering different odds that at first glance they look very different. But if you ponder on them a little deeper they are basically the same.

[swogerino]

Interesting. The "Double Chance" sounds easy. ... Is it or no? I wonder if it has higher chances of winning (as the name seems to suggest?).
Is that a favorite choice for bettors? or perhaps is not that common or not evryone is aware that such option exist?

In a mathematical way Double Chance has more probability to be a win compared to a single money line bet.Double chance is 66% possibility to win and single money line is 33% which is clear which bet has more possibilities to win.It sounds easy but surprises always happen in soccer and you can lose a double chance bet easily.It is not an option bettors like because of the low odds it has compared to money lines.

[Natalim]

That's why the odds are different, I don't normally bet on that as personally as a gambler, I don't want my bet to be refund because of a "push" result or something.

The Draw no Bet and 0 Asian handicap will both be voided if the match ends in a draw.

Are you sure about that?  where did you get that information?
Your 2nd example on "Genoa" bet, I think that is wrong, if you bet on the Asian Handicap, the game ended a draw, that means you lose your bet.
However, if you bet on Genoa (Draw no bet), that simply means you don't lose if the game ended up in a draw and you win when Genoa wins the game.

They are not the same, as you can see the odds for the asian handicap offers a highers odds because it's chances of winning is lesser compared to the Genoa (Draw no bet). I think your explanation is wrong..Both of your example are wrong IMO.

Your answer offers no insights to why the odds are different. You speak about personal preferences.
 

Yes this one might, but check my reply above and kindly rebut on that.

[Pmalek]

Are you sure about that?  where did you get that information?
Your 2nd example on "Genoa" bet, I think that is wrong, if you bet on the Asian Handicap, the game ended a draw, that means you lose your bet.

No, that is not accurate. That is not how the 0 Asian Handicap works. Your stake money is refunded if the match ends in a draw. Same as with the Draw no Bet wager.

Here is a table with all AH bets you can make. https://www.betshoot.com/betting-guides/asian-handicap-betting/
On the top you can see the 0 AH bet. Check the 2nd line. If the match ends in a draw, your stake is returned. You don't lose your bet. You only lose if the opposition team wins. That makes it the same type of bet as Draw No bet. 

[Natalim]

Are you sure about that?  where did you get that information?
Your 2nd example on "Genoa" bet, I think that is wrong, if you bet on the Asian Handicap, the game ended a draw, that means you lose your bet.

No, that is not accurate. That is not how the 0 Asian Handicap works. Your stake money is refunded if the match ends in a draw. Same as with the Draw no Bet wager.

Here is a table with all AH bets you can make. https://www.betshoot.com/betting-guides/asian-handicap-betting/
On the top you can see the 0 AH bet. Check the 2nd line. If the match ends in a draw, your stake is returned. You don't lose your bet. You only lose if the opposition team wins. That makes it the same type of bet as Draw No bet. 

Thanks for educating me about this soccer bet, I don't usually put my bet on this game so I'm not so educated with it.
I'm a usual customer for basketball, both local and NBA games, and there's a choices that made me confuse before, was expecting that I made it but didn't

For example,.  I bet on -3 on a certain team, and the game went into OT, but after the game my bet covered, but I was wrong because the game does not include the OT only the regular minutes only and they have not written it, so now, I only bet on game where there's words "including overtime" so I will not make the same mistake again.

But I know it's different since there's no draw in NBA compared to soccer, but sometimes odds are quite confusing if you don't read the rules enough.

[ralle14]

What website is this? Isn't that very risky for the bookies itself because if a player is in a win streak, and quit early due to the good result. Isn't that a loss for them especially with huge bets and odds. They'll be paying even more.
No feature is the same with many popular bookies, that might be called a bug.

It's not a bug, from what i've noticed some bookies have a fixed vigorish or margin on certain markets that's why the odds aren't the same and not all matches have the same handicaps.

They won't lose that much even with that big of a difference since there's usually a max profit limit.