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How to Read Odds. If you bet on sporting events, you must be able to read Ex. If I successfully bet $15 on a horse with 3/5 odds of winning, the payout . What about a 4/5 odds, and how would you come up with the money line number?.
Odds are a numerical expression, usually expressed as a pair of numbers, used in both . simply "evens" (1 to 1, or 2 for 1). "Evens" implies that the payout will be one unit per unit wagered plus the original stake, that is, "double-your-money".
To compute your $2 win price, take the odds of your horse and multiply the first number by 2, divide that by the second 4/5, 7/2.
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There are, however, multiple ways to convey this information. Odds are expressed in several ways see belowand sometimes the term is used incorrectly to mean simply the probability of an event. You can also convert odds in 4/5 odds payout small pop-up window for easy browsing. However, in more variable situations, such as a multi-runner horse race or a football match between two unequally matched sides, betting "at odds" provides a perspective on the relative likelihoods of the possible outcomes. When the spread is small, moneyline bets are often 4/5 odds payout since the spread does not indicate a clear underdog. Expected Values and variance in bookmaker payouts: A Theoretical Approach towards setting limits on odds.