Copa Libertadores 2024 odds vary depending on the stage of the championship and the type of bet you want to place. There are short-term bets, which usually involve the matches in the next round, and long-term bets, which are more commonly related to choosing the tournament champion or the competition’s top scorer.
In both cases, evaluating the odds will allow you to make more strategic and informed decisions about your bets.
That’s why we’ve summarized the Copa Libertadores odds below and explained what they say about the course of the championship. Read on and clear up your doubts.
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Who is the favorite to win the Libertadores 2024?
Currently, the favorite team to win the Libertadores 2024 is Flamengo. The team from Rio is a three-time champion of the tournament, having taken part in four of the last five finals of South America’s biggest tournament. In 2024, the team is proving to be consistent and that’s why it’s in first place.
However, very close to the red-black, four other teams occupy the list of biggest favorites for the international title, among them other Libertadores champions. Check out the table below.
| Team | Odd |
| Flamengo | 4,5 |
| Palmeiras | 5,0 |
| River Plate | 5,50 |
| Fluminense | 8,0 |
| Atlético-MG | 8,00 |
*Source: Bet7k
How do the odds indicate who is the favorite to win the Libertadores?
The odds in sports betting are a reflection of the probabilities of a certain result occurring, based on calculations made by the bookmakers. They are based on various factors, such as:
- recent performance of the teams
- history of matches;
- injuries;
- weather conditions, among others.
When it comes to identifying the favorite to win a championship, odds play a crucial role.
Low odds
When the odds on a team or player to win a championship are low, this indicates that the bookmaker considers that team or player to be a strong favorite.
Therefore, based on the analysis and data available, there is a high probability that this team or player will be victorious.
As the odds are low, the potential return for bettors is also lower.
For example, odds of 4.50 (like Flamengo’s) mean that for every unit bet, the return will be 4.5 units, meaning that a R$10.00 bet would return R$45.00.
High odds
When the odds on a team or player to win a championship are high, this suggests that the bookmaker considers that team or player to be an underdog, i.e. the team is less likely to win the championship.
High odds reflect a lower probability of winning, but offer a higher potential return for bettors.
For example, odds of 8.00, like those set by Atlético-MG and Fluminense, indicate that for every unit bet, the return will be 8 units, meaning that a bet of R$10.00 would return R$80.00.
Using the Copa Libertadores 2024 odds, this time for the less favored teams, we can take The Strongest’s odd as an example, which is 81.
In this case, a punter who bets on the underdog and applies R$10 will get a return of R$810 if the team wins the tournament.
Read also: ALL the odds for the Campeonato Brasileiro 2024 [and how to use them]
Changes to the Copa Libertadores 2024 odds
As the championship progresses, the Copa Libertadores odds change. This is because new data feeds into the bookmakers’ algorithms, such as recent performances, team eliminations, injuries to key players and other variables.
Therefore, any bettor needs to be aware of these changes in order to place informed bets.
However, a word of warning: in addition to the odds, it’s important to do your own analysis and research on the teams, taking into account factors such as tactics, team morale, and performance in recent matches, okay?
Types of bets on the Copa Libertadores 2024
In addition to choosing the tournament champion, you can place other types of bets, all of which are based on the Copa Libertadores 2024 odds.
Among the main types of bets possible are:
- Champion
- Top scorer
- Match result
- Qualification (for the next stage)
- Double chance (one or the other)
- Result in the 1st half (or 1st half)
- First goal
- Handicap
- Scorer at any time
- Total corners
1. Champion
- What you’re betting on: the final winner of the competition.
- Example: Betting that Flamengo will win the Copa Libertadores.
Simply choose a team that you believe will win the tournament. If the chosen team wins the competition, the bet is successful.
2. Top scorer
Punters choose a player who they believe will finish the tournament as the top scorer, i.e. the player who will score the most goals during the competition.
3. Match result
- What you’re betting on: the result of a specific match (a win for one team, a draw or a win for the other team).
- Example: Betting that Palmeiras will beat River Plate in a match.
You have to choose one ofthree options: home team win, draw or away team win. If the chosen result occurs, you win the bet.
4. Qualification (for the next stage)
- What you’re betting on: which team will advance to the next stage of the competition.
- Example: Betting that Boca Juniors qualify for the semi-finals.
5. Double Chance (one or the other)
- What you’re betting on: two of the three possible outcomes of a match.
- Example: Betting that Atlético Mineiro will win or draw against Fluminense.
You bet on two of the three possible options: home team wins or draws, away team wins or draws, or either team wins. If either of the two chosen outcomes occurs, you win the bet.
6. 1st Half
- What are you betting on: the result of the first half of the match.
- Example: Betting that Gremio will be winning at half-time against Botafogo.
You choose the result you think will happen at the end of the first half (home win, draw or away win). If the chosen result occurs at half-time, you win the bet.
7. First Goal
- What you’re betting on: which team or player will score the first goal of the match.
- Example: Betting that Colo-Colo will score the first goal against Flamengo.
You choose the team or player you think will score the first goal.
8. Handicap
- What you’re betting on: a fictitious advantage or disadvantage for one of the teams to even out the odds.
- Example: Bet that São Paulo will win with a -1 handicap (i.e. start with -1 goal).
The team chosen must overcome the handicap imposed for the bet to be a winner. If you bet on a -1 handicap, the team must win by at least 2 goals.
9. Scorer at any time during the match
- What you’re betting on: a specific player to score a goal at any time during the match.
- Example: Bet that Gabigol will score a goal during the match for Flamengo.
If the chosen player scores a goal at any point during the match, the bet wins.
10. Total corners
- What you’re betting on: the total number of corners that will be taken during the match.
- Example: Bet that there will be more than 10 corners in the match between Independiente and Peñarol.
Read also: How to bet on corners: step by step and complete FAQ!
With this guide to the odds for the Copa Libertadores 2024, we hope you’ll feel better prepared to bet and get better returns.
After all, information like this allows bettors to diversify their strategies and increase their chances of success by making the most of the variety of options available.
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