Every Australian punter is familiar with the different odds which are presented by online betting sites. Odds are in place to encourage betting on various teams or participants, not just the favourite.

The odds or handicap system is an essential tool for punters to know should they wish their wagers to be successful and turn a profit. Learning to be able to compare the odds offered by various bookies, and thus get the best odds to suit their betting strategy, is something which all Australian punters should be able to do.

Odds Comparison Basics

The first thing which one needs to know when starting to compare odds is what sports one is planning on wagering on. Not all online betting sites in Australia offer all sports, so the more obscure your sport is, the fewer odds you will most likely have to compare. Let’s say for argument’s sake that we are going to place a bet on the AFL.

The AFL is a vastly popular sport in Australia, so there are a large number of sites which offer betting on the various leagues and games. Writing down a list of these sites will be a good starting point. Once you have done that, you can visit each site and see what odds are being offered for particular betting markets and games. Writing these down may help you to keep a handle on them.

Odds Comparison Sites

Of course, with the advances in online sports betting, there are now services which do pretty much everything for you, including comparing odds. A number of online sites have been created specifically to compare odds between betting sites and help you to choose the best odds for you. Of course, it may be that some betting sites or horse racing betting sites are not on the odds comparison sites, so doing your own checks and writing down your own odds is still a recommended activity.

Select Your Preference

Once you have looked at all the odds on offer, either via an odds checking tool or by doing your own research, you may then need to change some of them into a different format. The decimal point is a popular format in Australia, but some of the overseas sites which are also offering odds on your sport or game may have them in a different format, for example, fractions. Converting all the odds to the same format will help with simplicity.

Other Features

There are a number of smaller features on odds comparison sites which help the Australian punter to compare odds quickly and easily. One of these is a bet basket. This is basically a tool which allows you to combine a selection of your favourite bets, and then shows what the odds are for that selection at each bookie on the site.

Steamers and drifters are bets which started out at certain odds at the beginning of the day, and as the day went on have either become more strongly fancied, or have drifted and the bookies are offering great odds on the bet in order to entice punters to take the bait. Keeping an eye out for these is imperative when comparing bets.