Understanding Betting Odds and How They Work
Betting odds represent the probability of an event occurring and determine the potential payout for a successful wager. They are typically presented in three formats: fractional (e.g., 5/1), decimal (e.g., 6.0, and moneyline (e.g., +500 or -20. Fractional odds, common in the UK, show potential profit relative to the stake, while decimal odds, popular in Europe, include the total return per unit wagered. Moneyline odds, used in the US, indicate how much profit a bettor can make on a $100 stake (+) or how much they need to bet to win $100 (-). Understanding how odds work helps bettors assess risk, calculate potential winnings, and make informed betting decisions.
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