Odds, or probabilities, are the fundamental element for making informed choices and calculating your potential return in sports betting.
What Are 'Odds'?
Odds represent the probability of a specific sporting event occurring.
At Betano, Odds are presented numerically and indicate the potential financial return in the event of a successful bet.
Odds Formats
There are three main formats for viewing probabilities:
Decimal (E.g., 2.00): Indicates the total amount to be paid out in case of a win, including the original stake.
Fractional (E.g., 1/1): Displayed as a fraction, indicating the potential profit over the original stake.
American (E.g., +100 or -110): Can be positive or negative, indicating the potential profit or the stake required for a profit of 100 euros, respectively.
Implied Probability
Odds also indicate the implicit probability of an event occurring.
Lower Odds suggest a higher probability of the event happening, according to the bookmaker.
Higher Odds suggest a lower probability of the event happening.
Practical Example
Suppose the Odds for a team to win are 2.00 (Decimal).
If you bet 10 euros and the team wins, you will receive 20 euros in total.
The amount includes 10 euros of the original stake (return) plus 10 euros in profit.
Understanding the Odds is the key to making informed decisions and maximizing your betting experience at Betano.