The Euro 2024 will likely be the most watched sporting event of the year across the world, and naturally, all betting sites will be covering this massive occasion. This month-long event will be one that is watched and betted on in locations spanning the globe, and you won’t want to miss out on the fun.
If you are one of the many people looking to place wagers, there’s a lot to know. Luckily, we are here to help. Below, we will explain all the things you need to know to begin betting on soccer and, more specifically, the Euro Cup. Buckle up, and let’s get into it below.
Odds
To understand sports betting, you need to understand the odds. Odds are the indicators that show you the projected likelihood of a specific event and how much bettors will win if they place a wager on an outcome. The first thing you’ll need to know is how to read odds.
Reading odds is very simple. In Canada, the most popular odds format is American. American odds show you how much you would need to bet to make a $100 profit, or how much profit you would make on a $100 bet, depending on whether it is + or -.
A + bet shows you how much profit you’d make on a $100 bet. If something is +200, a $100 bet would earn you a $200 profit. If something is -, it shows you how much you’d need to bet to earn $100 profit. For example, if Italy is -200 in a game, a $200 bet on Italy would earn you a $100 profit if Italy wins.
Let’s look at an example of how this would look for Euro 2024 odds. If France is playing Belgium, the line could look something like this: France -190, Tie +100, Belgium +200.
One of the unique things to consider for Euro 2024 odds is that each website will have different odds. So, if you are dead confident that a team will win, you can shop around for different sports betting sites that have the most favourable odds for the team you believe will win.
Most Popular Markets
Odds are what dictates how much you will win, but markets are what you are actually wagering on. Markets are the individual outcomes that bettors can choose to bet on. These can be within a single game or within a tournament.
Everyone likes different markets because everyone prefers to focus on different things while watching the game. Before we get into the different markets and why people like each one, let’s briefly discuss single bets and parlays.
Single bets are wagers on one outcome. For example, you can bet on the total number of goals in a game. This is just one bet, and if that outcome hits, you win your bet. A parlay is a bet that ties together multiple outcomes. So, for example, bettors could wager on Germany winning their match, Italy winning their match, and England winning theirs. Each outcome would need to hit for the bet to cash.
With that said, let’s look at some of the popular Euro 2024 markets and why bettors love them.
- Match Result: Bettors enjoy this market for its simplicity. They simply need to select what they believe the final result will be, with their options being a win for Team A, a tie, or a win for Team B.
- Correct Score: The correct score is a fun one for bettors who like to take a little bit of a risk with the chance of earning a high reward. Picking the exact score in a game is no easy task, but it yields a big payout.
- Double Chance: For bettors who prefer to stay on the safe side, this might be your ideal market. Double chance allows bettors to pick any two of the three potential outcomes in a game (Team A wins, Team B wins, or tie). However, be warned; payouts are typically low on this market unless bettors wager against a heavy favourite.
- Total Goals: Total Goals is another market that is unpredictable but full of fun. For this, bettors can wager on the over/under for the total amount of goals scored in a given game. This will typically have a solid payout but is hard to nail.
- Anytime Goalscorer: The anytime goalscorer market is typically another safe one. Bettors can pick whether a team will score at all in a given game. If you choose a favourite with a strong offence, like England or Germany, this will not have a high payout. But if you pick a massive underdog, there can be a solid return.
- Double Result: Bettors love the double result because it can have a substantial reward. This market allows bettors to pick the score at both half-time and full-time of the match. This is a difficult bet that can yield a great payout because it requires bettors to predict a game fully.
- Tournament Bets: Tournament bets are wagers that are on long-term outcomes within the tournament. These include things like betting on who will win or who will be the leading goalscorer. These typically have high payouts because they are exceedingly tricky to nail.
Team vs Team Betting
A big portion of the betting most people will do is team vs. team betting. This is the most standard form of wagering. A match result bet is, as we mentioned, a bet on the direct outcome of a match. Let’s consider what that would look like.
As we’ve said, there are three outcomes in a given match. For the sake of the example, let’s say Portugal is playing against Spain. So, either Spain will win, Portugal will win, or the team will tie.
In this example, if the teams are very evenly matched, no team will have high odds of winning. In fact, it might even be that a tie is the likeliest outcome.
Most bettors will favour this form of wagering because it is as clear as it comes, and the payouts can still be quite high.
Strategies & Betting Tips
Having a cohesive betting strategy is important for a tournament like the Euro. You want to take calculated risks and have a clear goal in mind with every wager you make. Ultimately, while betting is fun, the goal is to hopefully walk away from the tournament with more cash than you came in with.
So, how would you go about doing that? The key is to develop a strategy. If you don’t have one of your own yet, allow us to help you build one. Below are some strategies and betting tips you can utilize to come away from this tournament a big winner.
- Pick Several Potential Winners: One strategy we would recommend when picking your tournament winner is to not put all your eggs in one basket. One fun strategy is to big one favourite, one team that has a reasonable shot, and one long shot. This way, there are more potential outcomes that can lead to a big win.
- Use Double Chance Sparingly: Double chance gives you a high likelihood of winning, but it comes with the downside of a very limited payout. If you want to ensure a great result, only wager a double chance if you are betting a heavy underdog and a tie as the two-part bet. This type of wager can still lead to a solid return.
- Tread Lightly with Parlays: Everyone loves parlays because they can have massive payouts. But don’t get wrapped up in this form of wagering. Parlays are very risky. This isn’t to say that you shouldn’t use parlays, but use them carefully, and don’t get carried away by the high Euro 2024 odds they provide.
- Always Check Form and Injuries: Before betting on a game, it is important to have all the information. Check on how teams have been performing in their previous games and whether there are any key injuries before you put any bet down.
- Pay Close Mind to Groups: Groups are a huge consideration in a tournament like the Euro. Before you bet on a team to win the tournament, familiarize yourself with their group. For example, Group B is a tough one this year, with Italy, Spain, and France all competing for two spots. So keep that in mind when betting on any of those teams.
Bonuses and Promotions
A big part of sports betting is bonuses and promotions. This is something that is a major attraction for gamblers. Bonuses and promotions are rewards offered by betting sites for users taking a specific action. Typically, sportsbooks will have rotating bonuses that are present throughout the year and then bonuses for major sporting events. Given the Euro 2024 is as big as it gets, expect there to be plenty of bonuses for this event.
While we won’t be able to know exactly what bonuses will be on offer for this event, there are some common bonuses that we can predict will be present for gamblers to take advantage of during this event.
The one bonus we can say will for sure be available will be a welcome bonus. Welcome bonuses are on just about every sports betting site. They reward gamblers for signing up and depositing, typically in the form of a matched deposit. So, if you haven’t signed up for a betting site yet, you could have some extra money for wagering on the Euro.
Another bonus that will likely be around is a free bet offer. A free bet offer gives bettors a free bet for taking a specific action. For example, if you bet $20 on Euro games, you can receive a free bet. This is what a standard offer could look like.
Another common bonus type is the boosted odd promo. This takes a line and enhances it to be more favourable to a bettor. For example, Croatia’s odds of winning could be boosted from -120 to +100. This gives bettors more incentive to wager on an outcome.