Best Australian Open Betting Odds (ATP)
There are no matches for Australian Open Tennis. Here are the odds for the past days.
The Australian Open is a special event in the world of tennis as it is the first Grand Slam tournament of the calendar year, thus signifying the start of the ATP Tour. Held in January, the AO is a hard court tennis competition which often attracts the largest crowds of the entire tennis season. Fans can’t pass up the opportunity to see their favorite players all vying to take down the coveted trophy. When looking to bet on this thrilling tournament, it’s important to first have a solid understanding of the odds and how the betting market functions. First things first: what are betting odds?
Odds are simply a numerical representation of the perceived likelihood of an event occurring. In the case of the odds offered at online betting sites, they represent what the bookmaker believes is the probability of a specific outcome. A practical way to think about it is that the lower the odds offered for an event, the more likely it is to occur. Conversely, the higher the available betting odds, the less likely that outcome will take place. Naturally, it’s up to the punter to assess the risk/reward for each bet. Lower odds will cash more frequently but payout less, while higher odds won’t win as often but will provide excellent paydays when they do.
In addition to the correlation that the odds have on the likelihood of an event occuring, they are also used to determine how much one stands to win in the event of a successful wager. We’ll show you an easy formula later on that will allow you to quickly calculate potential winnings from any type of bet.
How are Australian Open odds calculated?
Sportsbooks take into account a number of different factors to generate their odds. They use various databases of statistics, player and betting trends, historical data, player news and advanced algorithms to arrive at the number that they feel is fair. Remember, the odds you are seeing are the bookmaker's opinion regarding the outcome of an event which also factors in how much betting action they expect to receive on a side.
In addition to betting on the match winner, there are also a number of other betting markets that punters can take advantage of. Whether it’s betting an over/under on the number of games, an exact score, game handicaps and even individual set betting. Each of these different markets take into account their own criteria and factors to determine what the accurate betting odds should be.
For a practical example, let’s take a look at a hypothetical Australian Open matchup between British pro Cameron Norrie and young Norwegian pro Casper Ruud. On paper, this looks to be a matchup which the Norwegian should win. He is the current world number six compared to Norrie who is ranked 18th. At 24 years of age, he already has more career wins than his 28-year-old opponent and almost double the tournament prize money earned. However, the betting sites are listing this matchup as an essential coinflip with each side coming in at 1.91 odds to get the win.
It begs the question, why are the odds so close when it appears that one side should be a significant favorite? The answer could lie in the type of surface that they are playing on. The Australian Open is an outdoor, hard court event in which Cameron Norrie has a noticeably better record than his opponent. Casper Ruud is more of a clay court specialist and sees his winning percentage drop on other surfaces. Norrie wins 68% of his matches on outdoor hard courts compared to Ruud’s 58%. These are the types of situations and factors that you will need to be aware of when analyzing tennis matches.
What are Australian Open odds used for?
The betting odds for an event serve a few different purposes. As we mentioned earlier, they allow a bettor to determine how much they stand to win from a successful wager. It’s a rather simple formula which should be easy to remember: - stake = net profit. For example, a €100 bet at odds of 1.75 will return €75 in net profit. Keep in mind that not all bookmakers offer identical odds for the same bet. Shopping for the best possible price will ensure that you are receiving the maximum possible payout for each bet placed.
The second function that odds serve is to determine whether or not a bet is worth taking. Let’s consider the prior example we used between Norrie and Ruud. You’ve done your research and analysis and you determine that Cameron Norrie should be a slight favorite when the two face off. However, when you compare the betting odds across different bookmakers, you see that the consensus has Norrie as the underdog at an average price of 2.50 to win. These odds represent a probability of 40% according to the betting sites. The prediction that you came to was Norrie as the favorite with odds of 1.80, which carries an implied probability of 55.6%.
In this situation, there is a discrepancy between the odds that you predicted and the actual odds on offer by the betting sites. It’s up to you now to determine what is causing this significant difference. It could be that you missed or didn’t take into account a key piece of information. Does Norrie have a minor recurring injury that he has been battling? Did someone close to the player let slip to the media something that may be impacting his personal life? These are the types of scenarios you will have to prepare for.
However, there is also the possibility that you simply view the matchup differently than the bookmakers. If you are confident in your analysis and you’re sure that you covered the match from all angles, you should then trust your read and go ahead with the bet. It could come down to the betting sides underestimating Norrie’s ability on hard courts or perhaps overrating Ruud’s hard court game. Whether you determine this before the match starts or if you are looking to bet the Australian Open matches live, these can turn out to be extremely profitable situations when you wind up being correct. So go ahead and confirm that bet slip!
The last piece of advice we have is one of the most important. This technique is utilized by all of the top, successful online sports bettors and when properly implemented can lead to an immediate boost to your bottom line. All you have to do is register with as many sports betting sites as possible! By doing this, you expand the pool of available betting odds that you have at your disposal. This allows you to always lock in the best possible price for a bet that you place. Remember, bookmakers don’t spread identical odds to other betting sites. They will vary from game to game and bet to bet. Some differences in betting odds between two sources can even be as high as 10%!
For example, say there is a bet you are interested in placing which has average market odds of 1.90. Upon scanning the different bookmakers, you notice that Vbet is offering the same bet at odds of 2.00. While it may not look significant at first glance, this is the difference between winning €90 and winning €100 on a €100 bet. Expand that kind of difference over the course of the entire ATP season and you’ll begin to see why it’s such an invaluable tool!
In addition to securing the best possible odds for each of your bets, you’ll also be able to take advantage of the welcome bonuses on offer at many sportsbooks! These can reach as high as 100% of your first deposit, meaning you will essentially be doubling your bankroll at a site before even placing your first bet. To see what the latest offers are as well as our thoughts, check out our list of top online betting sites.