Best Betting Sites We Recommend for Quality Oddsġ8+. The second way of thinking about how betting odds work is that odds are a way of understanding how much you get if you win in relation to your stake.īetting odds are both a reflection of implied probability and a way of understanding potential returns. So perhaps we should look at it from a more bottom-line perspective.
Ultimately though, the end result is what matters. Perhaps more accurate is that betting odds are a rough approximation of how likely they think an outcome is to happen. Other factors can also play a part in this, such as promotions, market fluctuations, the overround, all of which we will cover later in this article.
In other words, how likely they think an outcome is to happen – at least in theory. On one hand, they are a reflection of probability according to the bookmaker. In this part of our betting odds explained guide, we will break that understanding down to two key points: Most of you reading this will roughly understand what sports betting promotions odds are and have basic answers to question like how do odds work.
