How do odds affect payout?

Whereas negative (-) odds tell you what you have to bet on the favorite to win $100, positive (+) odds tell you how much you'll win for every $100 you wager on the underdog. So, a team with odds of +120 would payout $120 for every $100 wager.

Is it better to have lower or higher odds?

Odds is the payout of a winning bet

Odds show how much money you will win, if you bet on an event to happen. The higher the odds are, the more you will win, relative to your stake.

How do you calculate payout with odds?

What does 7 to 5 odds mean?

7-5 Betting Odds means that out of 12 potential outcomes, the 7/5 odds are that there will be 7 of one kind of outcome and 5 of another kind of outcome. The 7-5 odds calculation means for every 12 betting events your selection should win 5 times and on 7 occasions the selection will not win.

What does 7 2 odds mean?

When horse racing odds are shown in the form of 7-2, 5-1, etc, it expresses the amount of profit to the amount invested. So odds of 7-2 mean that for every $2 invested, the punter gets $7 profit in return. This means when you bet $2, the total return if the bet is successful is $9.

Understanding Betting Odds in 5 Minutes

What does 8 to 5 odds mean?

What does 8 to 5 odds mean? 8-5 Betting Odds means that out of 13 possible outcomes, the 8/5 odds are that there will be 8 of one kind of outcome and 5 of another kind of outcome. The 8-5 odds calculation means for every 13 betting events your selection should win 5 times and on 8 occasions the selection will not win.

What does 9 to 5 odds mean?

9-5 Betting Odds means that out of 14 potential outcomes, the 9/5 odds are that there will be 9 of one kind of outcome and 5 of another kind of outcome. The 9-5 odds calculation means for every 14 betting events your selection should win 5 times and on 9 occasions the selection will not win.

What do 8 to 11 odds mean?

8-11 Betting Odds means that out of 19 possible outcomes, the 8/11 odds are that there will be 8 of one kind of outcome and 11 of another kind of outcome. The 8-11 odds calculation means for every 19 betting events your selection should win 11 times and on 8 occasions the selection will not win.

What does 9-2 odds pay?

Example #2: A horse that wins at 9-2 will return $4.50 for every $1.00 wagered. If you had placed the minimum bet of $2 on that horse to win, your payoff will be: $9.00 (4.50 x 1 x $2) + your original bet of $2 – for a total of $11.

How does a 5 to 2 odds payout?

A winner at 5-2 means that will pay $5 profit for every $2 wagered. The payoff is $7 which is the profit ($5) plus the cost of your wager ($2).

What does +200 mean for odds?

Odds with a plus sign are underdog bets. Plus odds tell you how much profit you will get on a $100 bet. A $100 bet with +200 odds nets you $200 profit plus your original $100 bet. If you bet $20, you would profit $40. For the rare even money odds, those can be listed as -100, +100 or EV.

What is the payout for 10 to 1 odds?

10 to 1 odds payout

If you wager a bet on a 10/1 betting odds selection and you win, your total payout will be 11.00 which is your stake back plus 10.00 profit.

What does 15 2 odds pay?

If you wager a bet on a 15/2 betting odds selection and you win, your total payout will be 8.50 which is your stake back plus 7.50 profit.

How do I choose the right odds?

Remember that lower odds return a higher profit.

Betting on the underdog is riskier than betting on a favorite, but a higher risk means a higher potential reward. The "longer the odds," or the less likely, the more money you could win.

How do you interpret odds?

Odds of an event happening is defined as the likelihood that an event will occur, expressed as a proportion of the likelihood that the event will not occur. Therefore, if A is the probability of subjects affected and B is the probability of subjects not affected, then odds = A /B.

Should you bet on the highest odds?

The high odds in the bets mean that the payout you can win from these bets will be very high, but the chances of winning the bet are quite low. Betting on high odds gives players a chance to potentially earn huge amounts on a somewhat small bet.

What does 30 to 1 odds pay?

With the standard 30-1 you'd get at most craps tables, bets on 2, 12 or hard hop bets give the house a 13.89 percent edge. If the payoff is 31-1, the edge drops only to 11.11 percent. True odds are 35-1, so there's a long way to go from 30-1 before these become viable bets.

What does 40 to 1 odds mean?

If you are betting on a longshot NFL futures bet at odds of 40/1 (these fractional odds convert to +4000 in American odds; decimal odds of 41.00), your implied chance of success is 2%.

What does 5000 to 1 odds pay?

Clarke, who has season tickets to see the Foxes, had a 10 pound bet ($14), thanks to the 5000-to-1 odds, result in a 50,000 pound ($72,480) pay out.

What do odds +150 mean?

A moneyline is simply a bet type that only includes Odds, as in “Odds to win”. Example: a moneyline of +150, is just +150 odds ($100 to win $150) for the listed team to win. A moneyline of -150 is just -150 odds ($150 to win $100) for the listed team to win.

What does 12 to 5 odds mean?

12-5 Betting Odds means that out of 17 possible outcomes, the 12/5 odds are that there will be 12 of one kind of outcome and 5 of another kind of outcome. The 12-5 odds calculation means for every 17 betting events your selection should win 5 times and on 12 occasions the selection will not win.

What does 15 8 odds pay?

15 to 8 odds payout

If you wager a bet on a 15/8 betting odds selection and you win, your total payout will be 2.875 which is your stake back plus 1.875 profit.

What do I win at 9 to 4 odds?

9 to 4 odds payout

If you wager a bet on a 9/4 betting odds selection and you win, your total payout will be 3.25 which is your stake back plus 2.25 profit.

What does 7 1 odds pay?

7 to 1 odds payout

If you wager a bet on a 7/1 betting odds selection and you win, your total payout will be 8.00 which is your stake back plus 7.00 profit.

What does 13 to 5 odds pay?

If you wager a bet on a 13/5 betting odds selection and you win, your total payout will be 3.6 which is your stake back plus 2.6 profit.