Betting odds are the foundation of sports betting. They indicate how much you can win on a bet and the probability of an outcome happening. If you're new to betting or switching between different formats, understanding how to read betting odds can make a big difference in making informed bets.
This guide breaks down the most common odds formats, how they work, and how to convert between them.
Essential Takeaways
Betting odds represent both the likelihood of an event occurring and the potential payout.
The three main formats of betting odds are fractional, decimal, and American.
Converting odds formats helps bettors...
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