Betting Odds For Dummies

People have been betting on horse races since horses have been running. Betting on the outcome. This is based on the same fundamental concept as traditional fixed odds sports betting, as wagers are still placed at fixed odds. However, there’s one very significant difference. With traditional fixed odds betting, wagers must be placed BEFORE an event starts. With in-play betting, however, wagers can be placed DURING an event. Odds of -110 (1.91 in decimal odds format, 10/11 in fractional odds format), which means for every $110 staked you stand to win $100. You don’t have to stake as much as $110 of course, but the point is that a successful wager will only return 90% of the amount staked (plus the initial stake of course). In Conclusion: Betting Odds For Dummies. The probability of an event happening is represented with betting odds. With this you can also work out your probable winnings. One final example for you: with odds of 4/1, for every £1 you bet, you will win £4. There is a 20% chance of this happening, calculated by 1 / (4 + 1) = 0.20.

Anyone has the potential to be a sharp sports bettor with the right info. That’s why SBD put all the fundamentals into our introductory series for new bettors: Sports Betting 101.

Sports Betting For Dummies

Learn about the types of sports bets you can place, how to read odds, and how to manage your bankroll to get the most value out of your wagers.

How Does Sports Betting Work

We’ll break down some confusing terms you might encounter while getting started and walk you through some basic considerations to think about before placing a sports bet online.

Betting Odds For Dummies

Let’s get started!