In Moneyline terms, this is shown as +200. The decimal equivalent here would be 3.0. Odds can be shown in three different ways:Ī typical fractional set of odds may be shown as 2/1. In any market, there will be a favourite and an outsider, and the odds are there to illustrate this point. But how, exactly, are they calculated? Basics of Sports Betting OddsĪs mentioned, odds are there to tell us the probability of an event happening. Odds are essential in betting and, everyone involved in the practice, from the bookmaker to the bettor, depends on them. In addition, they tell us how much payout we will receive in the event of a winning bet. Odds are an indication of the probability of a specific outcome taking place. In any sports bet, there is a set of odds attached and they are here to tell us two things. Explained: How Betting Odds Are Calculated
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