How does betting work?
If you've just started betting, you're probably wondering how it all works. The most obvious place to start is with an explanation of betting odds.
Although it may seem a little daunting at first, once you've mastered how odds work, you can easily calculate the probability of an outcome and how much your winnings will be.
We've compiled a handy guide below to give you all the details on how betting odds work.
What are odds and how do they work?
Bookmakers use odds to determine the probability of a particular outcome in a sporting or other event. They are usually presented in decimals.
Betting markets are available on a range of different outcomes. For example, in soccer, you can place bets on everything from the result, the top scorer and the winning team, to how many corners or set-pieces a particular team will have.
Decimal betting odds show the potential winnings, including your stake. All you have to do is multiply your stake by the odds.
For example:
If you bet on Manchester United to beat Liverpool with odds of 4.00 and placed a bet worth R$1, your potential winnings are R$4.
Other returns include:
- R$1 to 10.00 = R$10 return, including stake
- R$5 to R$2.50 = R$12.50 return, including stake
- R$10 to R$7 = R$70 return, including stake