What are odds in sports betting?

Odds are statistical data of an event that define the chances of each team, person, or  player winning a game in the form of numbers. They are the numbers that appear in front of the name of the team, person, or player, and they are constantly changing according to the progress of the match.

The value of the odds is inversely proportional to the likelihood of the outcome. In other words, if you bet on the lowest odds, your potential profit in case of a win will be higher.

If you choose to bet on the highest odds, your chances of winning with the favorite team, person, or player will be lower.

ODDS ARE BASICALLY PROBABILITIES

In this case, these odds can represent:

  • The probabilities of a certain outcome happening.
  • The potential winnings if your bet is successful.
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