Best Euro Betting Odds (Europe)
Ready to bet on the Euro Football Championship? Ready for the excitement you’ll feel with each of your sports bets on the fantastic 2020 European Championship, which is just around the corner? We’re with you all the way! But first of all, and because they’re an essential part of these online bets, let’s talk about the odds available for Euro 2020. In the final phase of this major event – as in any competition – the odds will always be the first thing to be analysed.
What do the bookmakers’ odds mean?
First and foremost, we need to define what the odds mean in a sports betting situation. The odds play a direct role in sports betting. They are a numerical expression whose values determine the potential winnings to be made from a bet, the probability of placing a winning bet, and therefore, the punter’s final decision. Every time you place a bet on Euro 2020, you will actually be betting at odds set by a bookmaker. Thinking about betting on Belgium beating Denmark, for example? You’ll be wagering your money at the odds for a “Belgium win” that will be offered by the different operators.
In terms of value, you should then be aware that the odds will be directly influenced by probabilities. In this way, the higher the odds for a bet, the lower the likelihood of it winning. Conversely, the lower the odds for a bet, the greater the likelihood of it winning, according to the probabilities. To illustrate this, let’s take the group match between the Netherlands and Romania in this Euro 2020 football tournament.
For this match, which the Oranje are hot favourites to win, the odds offered for betting on a “Netherlands win” will therefore be quite low (e.g. 1.70), whereas the odds for a “Romania win” will be quite high (e.g. 4.00). As the Dutch players are more talented and experienced than their opponents, the “Netherlands win” bet will indeed be more likely to succeed, so the bookmakers’ odds will logically be lower. And this is how it always works, for the Euro and any other competition. What’s more, as far as the level of the odds is concerned, be aware that they’ll generally range from 1.01 to 6.00, or even higher for unlikely bets.
Each odds on the Euro determines the amount of winnings to be made
In addition to their link with the probable outcome of each match of the tournament, you should also be aware that these Euro odds will always determine the potential winnings for your bets on the competition. Simply use the formula Odds x Stake = Winnings to calculate the amount you could win for a winning bet, and in this way determine whether or not it is worth placing your bet. Here’s a practical example of how this works, using the Germany-Hungary group-stage match as an example. The logical German victory is therefore offered at odds of 1.50, while the chances of a “surprise” Hungarian win are rated 6.50.
- If I bet €20 on Germany winning the match: Odds of 1.50 x Stake of €20 = €30. I could win €30.
- If I bet €20 on Hungary winning the match: Odds of 6.50 x Stake of €20 = €130. I could win €130.
This clearly shows that the amount of winnings will be determined by the level of the odds, and that the higher the odds (and therefore the riskier the bet), the higher the jackpot could be. At this Euro 2020 football tournament, it will therefore be up to you to determine whether a bet is worth venturing, by finding the right compromise between the risk and the potential winnings. There’s a lot to consider.
How do you know whether the given odds are worth betting at in the Euro?
In addition to calculating the potential winnings of your bet and comparing them to the risks associated with your wager, you can also use another very useful formula to determine whether the given odds are worth taking: this calculates the probabilities determined by the bookmakers. Use the formula 1 / (odds) x 100 to immediately discover how the bookmakers assess each bet in this Euro 2020 championship. Let’s use the group-stage match between England and Scotland as an illustration. An England win is offered at odds of 1.80 on average, while a Scotland win is offered at 4.00.
· 1 / (1.80) x 100 = 55.55. According to the bookmaker, England has a 55.55% chance of winning.
· 1 / (4.00) x 100 = 25.00. According to the bookmaker, Scotland has only a 25% chance of winning.
After performing these calculations, you then have two options. To start with, you might agree with the bookmaker and can then use other criteria to judge whether it’s worth betting at these odds. On the other hand, you might disagree, and then consider it to be worth betting at one of the two odds given.
Using the same example, if you think that the Scots are capable of pulling off a surprise and have at least a one-in-three chance of winning, you should try your luck at the odds of 4.0, which the bookmaker has overestimated in comparison with your own analysis. Because you have assessed the situation better than the bookmakers, a small wager will allow you to increase your overall winnings. Therefore, you should always analyse the odds before betting on any matches in Euro 2020. Get into this habit!
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Odds on the winner of Euro 2020 – Go for the long-term bet!
In addition to betting on matches in the final tournament, you will also be able to place long-term bets during the Euro, with odds also offered on the winner of the tournament. Often attractive, these odds should not be ignored, since you can place several different bets, which increases your chances of winning. Let's take the example of the odds offered by Bet365:
- I bet €30 on France winning the tournament (odds of 5.00) = Potential winnings of €150
- I bet €30 on England winning the tournament (odds of 5.50) = Potential winnings of €165
- I bet €30 on Belgium winning the tournament (odds of 7.50) = Potential winnings of €225
- I bet €30 on Italy being the surprise tournament winners (odds of 12.50) = Potential winnings of €375
By placing four different bets, you’ll therefore win €30 in the worst-case scenario, if at least one of the four bets wins (winnings of €150 – total stake of €120 = €30), and up to €255 if the highest odds pay off (winnings of €375 – total stake of €120 = €255). This interesting strategy gives you quite a good chance of winning. So, don’t forget about these odds on the eventual winner of Euro 2020, which are often quite generous on the various online betting sites.
Sign up for the Euro everywhere!
Finally, in the last paragraph, allow us to make a recommendation: we strongly advise you to register on all the sports betting websites for Euro 2020, if you’d like to always bet at the very best odds. As each bookmaker can offer different odds on the same European Championship match, this is the only way for you to be sure of always betting at the best odds, and therefore to have a chance of pocketing the highest winnings for each match. With this in mind, remember to consult our rankings of the best bookmakers for Euro 2020. You’ll also find the best Euro 2020 odds through our comparator! Here’s to good matches and good luck to us all!