How does betting work?
If you’re new to betting, you’re probably wondering how everything works. The most obvious place to start is with an explanation of betting odds.
While it may look a little daunting at first, once you’ve mastered how odds work you can easily calculate the probability of an outcome and how much your winnings will be.
We’ve compiled a handy explainer below to give you the full lowdown on how betting works.
What are betting odds and how do they work?
Bookmakers use odds to determine the likelihood of a certain outcome in a sporting or other event. They are typically presented in decimals (e.g. "3.0").
Betting markets are available on a host of different outcomes. For example, in football, you can place bets on everything from the result, first goalscorer and winning team to how many corners or throw-ins a certain team will have.
Decimal betting odds show potential winnings inclusive of your stake. All you need to do is multiply your stake by the odds.
For example:
If you backed Manchester United to beat Liverpool at odds of 4.00 and placed a R$1 stake, your potential winnings are R$4.
Other examples of potential returns are:
- R$1 at 10.00 = R$10 return, including stake
- R$5 at 2.50 = R$12.50 return, including stake
- R$10 at 7 = R$70 return, including stake