Best Australian Open 2023 Betting Odds

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Hoping to learn more about Australian Open betting odds during the 2023 Grand Slam event? Keep reading for more information.

Australian Open Betting Odds – Quick Rundown

If you are somewhat new to betting, the concepts of odds or prices may seem a little foreign. We totally get it! However, this is actually one of the most important things to understand when making bets on any sport. Specifically, understanding how Australian Open betting odds work will help you to make informed wagers on markets that would be deemed ‘valuable’. In this sense, valuable simply means that the odds provided would warrant shooting for that particular outcome.

In short, the odds should ideally align with what you think the realistic chances are for that outcome. This is how you can make sure that you are happy with the odds provided. And by repeating this process, you can make wagers that align with what you envisage relating to the risks involved. With that said, there is a bit more to learn surrounding the odds for Australian Open betting. So keep reading for a full breakdown.

Why do Australian Open Betting Odds Matter?

We’ve given you a rundown of how to interpret the odds seen for the Australian Open betting markets above. Yet we still haven’t covered why the odds actually matter. So let us run through a quick example to highlight how these odds work. Let’s say that you wanted to bet on an upcoming match between Djokovic and Medvedev. For simplicity and clarity, we’d like to remind you that this is just an example. The match isn’t yet official and the odds given are just for reference for this example.

Anyway, let’s assume that when assessing this match, you decide that Djokovic should grab the win. You might see odds of 1.40 for Djokovic and something like 2.70 for Medvedev. Now, if you choose to wager on Djokovic with Australian Open betting odds of 1.40, this means that the bookies think he has a 71.40% chance of winning. As for the odds and why this matters, you would multiply your stake by the odds to see how much money the bet would yield if it came through.

Say you wagered £10 on this market. By multiplying £10 by 1.40, the potential return on this bet would be £14. However, this doesn’t highlight the profit. The actual ‘profit’ from the wager would be £4, as you need to minus the amount you put in to see this.

Different Australian Open Betting Odds for Individual Markets Explained

Okay, now you are aware of how these odds work and why they are important. Note that this information is relevant regardless of whether you are checking Australian Open women’s betting odds, men’s betting odds, or whatever else. Yet the odds can be tricky to grasp if you start to explore different betting options at the top sites. So let us jump through the main categories:

Australian Open Outright Betting

You’ll notice at the main bookmakers in the UK, there are always outright betting options. These come with odds that relate to the listed player’s chances of winning the tournament. And typically, you can get pretty enticing odds if you start to look at players who aren’t the main favourites. As the tournament progresses, these odds will shift to the lower end of the scale too. That’s because the fewer players in the draw, the more likely it is that one of those players will win.

In-play Betting at Australian Open

For in-play betting, the odds will swing wildly from one moment to the next. That’s down to things like breaks of serve, breakpoints, set points, and other exciting things that can happen during a match. On that note, some punters like live betting because of these large fluctuations. And that’s because these price swings create opportunities to snap up various markets at pretty nice prices.

Standard Pre-Match Betting

The main wagers you’ll be making if online betting is new to you will definitely be pre-match wagers. These cover things like the individual winner, number of sets, number of games, and many other markets too. By nature, these odds will remain relatively steady from the moment they are published until the game begins. And typically, this category will provide the most betting options as well.

Australian Open Betting Tips for 2023

That’s pretty much all you need to know regarding Australian Open betting odds and why they are important. So now, let’s put this information to good use by serving up some Australian Open betting tips for the 2023 event.

Avoid Backing Heavy Favourites

As you’ve seen via the odds discussion, the higher the odds, the more cash you win for your bet. And in tennis, since there is no possible draw, there are often heavy favorites in the 1 vs 2 markets. These odds can be lower than 1.10 in some circumstances, and we advise avoiding such odds.

Mix Up the Bets You Make

If you can mix up the bets you make, you’ll get more familiar with how the different markets work. Not only that but there’s a better chance that you could score some diamonds in the rough too.

Look for Boosted Odds Where Possible

A key tool that bookmakers use these days to tempt punters into backing set markets is to use price boosts. Now, these are obviously great markets to go for since you are given a better price without doing anything. Yet the market displayed should still align with what you think could happen during the match.

Australian Open Betting Odds FAQs

Should I pay attention to individual Australian Open betting tips?

Sure. If there are free tips out there that provide valuable information, you may as well read them.

When will the Australian Open men’s final betting odds be published?

The odds will only be published once the finalists are actually known.

Can I change how the odds are displayed?

Yes – you can flick between decimal and fractional at most betting sites.

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