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Converting odds to probability is not simple, but you ought to understand how to go about it, specifically if you want to be an avid sports bettor and avert losses. Beneath, we'll appear into how to convert the 3 types of odds into implied probability. Sportsbooks do this to discourage bettors from betting a lot on the favored. For instance, let's say the Browns are in the Super Bowl and projected to win with odds of -500. If the odds are +130, you will win $130 if your bet of $100 or additional wins. Think about you wager $20 against your buddy who will finish a video game very first. This bet has a outcome, which means the winner expects to get $40 in total, which is typically how it ought to go. In contrast, high odds indicate that a bookmaker believes an event is much less probably to occur.

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