Penalty shootouts are always nerve-wracking yet exciting moments in football, and they attract huge attention from betting enthusiasts. From this excitement, the penalty shootout bet was born. So, what exactly is a penalty bet? What types of penalty bets exist, and is this considered a “golden” market to win big from bookmakers? If you’re curious, don’t skip this article—bet win tips will guide you on how to bet on penalty shootouts effectively with your favorite matches.

What Is a Penalty Bet?

In football, penalty kicks are nothing new. A penalty is a direct free kick taken from the 11m spot, usually awarded when a player commits a foul inside the penalty box (such as handball, high foot, or obstruction). Additionally, when a match ends in a draw after 90 minutes (and extra time in knockout rounds), a penalty shootout is held to determine the winner.

Penalty shootouts are fascinating because they are essentially a 1 vs 1 duel between the goalkeeper and the shooter from 11m away. Every shot tests the skill, mentality, and sometimes pure luck of the players. That’s what makes penalty betting so attractive—especially since major tournaments often feature shootouts, creating plenty of betting opportunities.

Penalty Bets in Football Betting

Penalty bets fall under the category of special football bets because they rely heavily on luck. Despite that, they’re very popular and come in many different variations, ensuring bettors never get bored.

In modern football, with VAR technology becoming standard, penalties are easier to detect and award. To keep up with this, bookmakers now offer a wide range of penalty betting markets.

Depending on the best online bookmaker, penalty bets may include:

Number of saves

Shots off target

Shots hitting the post or crossbar

Number of goals scored from penalties

Which team wins the shootout

Each bookmaker has its own rules, so players should carefully read the betting conditions before placing wagers.

See more: Top 5 best football player in asia 2025

How Are Penalty Bets Calculated?

The calculation of penalty bets can be quite complex, depending on whether a penalty occurs and the outcome of that penalty. Bookmakers provide odds for each scenario.

For example:

Odds for Team A to get a penalty: 2.50

Odds for Team B to get a penalty: 3.50

Odds for no penalty in the match: 1.50

If you place 100,000 VND on Team A to be awarded a penalty and it’s converted into a goal, you win:
100,000 VND × 2.50 = 250,000 VND.

If you bet 100,000 VND on Team B and they score from a penalty, you win 350,000 VND.

If no penalties occur, you lose your stake.

Popular Types of Penalty Bets

Will There Be a Penalty?
A simple yes/no bet on whether a penalty will occur.

Final Penalty Shootout Score
Predicting the exact score of a shootout. Difficult to win but offers very high payouts.

Individual Shot Outcome
Betting on whether a specific penalty kick will be scored or missed.

Over/Under on Successful Penalties
Betting on whether the total number of penalties scored will be over or under the bookmaker’s set line.

Which Team Shoots First?
Predicting which team will take the first penalty in a shootout. This market is purely luck-based (decided by the coin toss).

Tips for Betting on Penalty Shootouts

Analyze teams’ penalty-taking ability: Some teams have designated specialists with high conversion rates, while others struggle under pressure.

Pay attention to the goalkeepers: A goalkeeper’s penalty-saving record can drastically influence outcomes. If the keeper is a well-known penalty stopper, betting on fewer successful penalties might be wise.

Place bets at the right time: Waiting until the shootout begins gives you a better read on players’ form and confidence.

Choose the right market: Not all penalty bets are equal. Some carry higher risks but offer higher payouts. Always match your bet type to your budget and risk appetite.

Know the bookmaker’s rules: Each operator may apply different criteria, so always double-check before betting.

Conclusion

Penalty bets are among the most thrilling and unique football betting markets. While not every match will feature a penalty or shootout, when they do, the odds often provide higher rewards compared to standard bets. By understanding how penalty bets work and applying smart strategies, you can increase your chances of winning big from this exciting market.