Betting odds explained

    2017-11-10 11:47

    Placing a bet online can be quite a scary thing, especially if you’re new to sports betting. What does it all mean? How much can you win? What needs to happen? All these are valuable questions and at the heart of it all is one thing – odds.

    The odds will determine how much you will win in return for the money you bet (stake). At first glance it may look confusing, but once you get the hang of it you’ll be able to place your bet and know exactly how much you’ll claim should you pick the winner.

    Let’s start by taking a look at a real-life example taken from the Currie Cup final.

    The Sharks vs Western Province

    The Sharks win 0.55

    Western Province win 1.55

    Draw 25.00

    Odds are determined by the probability of a certain outcome arriving. Coming into the game, the Sharks topped the regular season table and earned home ground advantage, so they were the favourites. Bookmakers thought they were the most likely team to win, with Western Province the outsiders and even bigger odds on the draw.

    What do the numbers mean?

    The numbers next to each outcome (odds) tells you how much you will receive if that particular result arrives. Your payout is determined by the odds and your stake.

    Odds x Stake = Payout

    In this case, punters who backed the Sharks would win 55c for every Rand they bet. So a R100 bet would return R55, plus your original stake of R100. Anyone who bet on Western Province would get R150 for every R100 bet. Talk about value.     

    There you have it. Not too difficult hey? We hope that you’ve found this useful and now feel ready to bet better with But don’t worry if you get stuck. When you click on a bet or outcome which takes your fancy and you then enter a stake, you can simply check out the ‘To Win’ column to see what your bet will return. There’s plenty more to know about betting, but that’s all for now, folks. 

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