How Do Odds Work (Betting Odds Explained)

How Do Odds Work In Betting? A great question that quite rightly should be queried when placing bets. Odds have been associated with sports betting and bookmakers since the inception of taking and placing bets many years ago, this video will cover what they truly represent and how you can determine what odds are good value.

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How many times have you looked at the price being offered out by a bookmaker for a popular sports event, whether that be football, horse racing, boxing or one of the other huge mainstream sports, and then, converted the odds to represent how much money your bet would make if you were right and the bet won!

A natural reaction of course, but this isn't what odds actually represent, in reality, they are simply a representation of the chance or probability of the outcome occurring, this video dives into the topic more and explains the difference between fractional odds and decimal odds.

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[georgeamaechi]

Thank you sir for making this plain and simple👊🏿

[MessicanFood]

So what do you do with decimal odds on player props that are like “14.5 pts” am I suppose to find the implied probability?

[lou]

why do u have to add 1 to the decimal? having problems with the odds 16/1, so if my stake is £10 i would get £170 returned?

[carlosm]

Lastima los subtítulos no estén en español .