Betting Odds Explained for Beginners

Confused by betting odds? You're not alone. If you've ever looked at a soccer match and seen odds like 1.80, 2.50 or 5.00, you may have wondered what those numbers actually mean.

The good news is that odds are much simpler than they look.

In basic terms, betting odds tell you:

✅ How likely the bookmaker thinks an outcome is

✅ How much you could win if your bet is successful

 Generally, lower odds mean a result is considered more likely, while higher odds offer bigger potential payouts.

Imagine Orlando Pirates are priced at 2.50 to win.A R100 bet would return:R100 × 2.50 = R250That's R150 profit, plus your original R100 stake.

Favourite (Low Odds) The team expected to win.Example: Kaizer Chiefs at 1.50Smaller payout, lower risk.
Underdog (High Odds)The team considered less likely to win.Example: A smaller team at 5.00Bigger payout, higher risk.

• 2.00 odds = Double your money
• Below 2.00 = Profit is smaller than your stake
• Above 2.00 = Profit is bigger than your stake

Successful bettors don't just look for winners — they look for value.For example, if one bookmaker offers 2.20 and another offers 2.40 on the same team, choosing the better price can increase your winnings without increasing your stake. That's why comparing bookmakers, odds and bonuses is always a smart move.

Start with:✔ Single bets✔ Sports you already follow✔ Small stakes while learning✔ Licensed South African bookmakers✔ A fixed betting budget
Remember: betting should be enjoyable entertainment, not a way to make money.

• Odds – The number that determines your potential payout.
• Stake – The amount you bet.
• Return – Your total payout, including your original stake.
• Profit – Your winnings after your stake is deducted.
• Favourite – The selection with the lowest odds.
• Underdog – The selection with higher odds.
• Accumulator – Multiple selections combined into one bet. All must win.
• Cash Out – Settling a bet before the event ends.
• Live Betting – Betting while a match is in progress.
• Welcome Bonus – A promotion offered to new customers.
• 
  

Here's the truth about Welcome Bonuses: they change. Amounts go up, amounts go down, offers expire. The bettor who picks a good book and clicks today is already ahead of the one still comparing tomorrow. You don't need the perfect choice — you need a good one. Every site on this list qualifies.  

We Compare - You Decide. 12 licensed SA betting sites. 12 welcome bonuses. Every bookmaker on this list is offering a welcome bonus for new players. Scan the options, pick your bonus.  Many bonuses are available as soon as you sign up - check each offer for full terms.
Don't overthink it - your Bonus won't wait forever. Most bettors waste hours jumping between sites, reading endless reviews and second-guessing themselves — only to miss the bonus they came for in the first place.
We've done the hard part. Every bookmaker on this page is licensed, trusted and hand-picked by the Pikabet team. The bonuses are real, the links are live and the signup process takes minutes.
Each review  below has been carefully put together to give you a clearer picture of what each betting site offers. From welcome bonuses to key features, we cover what matters most to new bettors.

Ready to compare South Africa's top betting sites and welcome bonuses? Compare Betting Bonuses & Welcome Offers on Pikabet
We Compare - You Decide. 12 licensed SA betting sites. 12 welcome bonuses. Every bookmaker on this list is offering a welcome bonus for new players. Scan the options, pick your bonus. Many bonuses are available as soon as you sign up - check each offer for full terms.

🟢 COMPARE ALL 12 BOOKMAKERS ➜ 

using in-depth reviews  

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 🟢 CLAIM BONUS OFFERS NOW ➜

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TRANSPARENCY & AFFILIATE DISCLOSURE Some links on Pikabet.co.za are affiliate links. This means we may earn a commission if a user signs up with a partner bookmaker through one of these links, at no extra cost to the user. Affiliate partnerships do not influence our reviews, comparisons, or rankings. Our goal is to provide clear and trustworthy information so users know exactly what to expect.

AI SMART TECH - BETTER BETS  We used AI to help build Pikabet — the same way a smart bettor uses every tool available. The research, the images, the writing, the layout - it's AI-assisted and human-approved. At the end of the day, what matters is whether this site helps you bet smarter. We believe it does.  

RESPONSIBLE GAMBLING Betting is entertainment. It should be fun, controlled and affordable — not a way to make money, and not suitable for everyone. All content on Pikabet is intended for adults aged 18 and older. Pikabet.co.za only features bookmakers licensed to operate in South Africa. Affiliate relationships are disclosed clearly and do not affect our editorial independence. Set limits, take breaks and avoid chasing losses.

If betting stops being enjoyable, or starts to feel like a problem, help is available: National Responsible Gambling Programme (NRGP); Free helpline: 0800 006 008 — available 24/7.  | T&Cs apply | Bonuses subject to wagering requirements | Offers may change without notice. 

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