Odds

Odds represent the probability of an outcome and determine how much you can win from a bet. They reflect both statistical likelihood and how the betting market is balanced.

Odds can be presented in different formats (decimal, fractional, American), but the underlying concept is always the same: lower odds indicate a higher perceived chance of success, while higher odds imply greater risk and potentially higher returns.

Understanding odds is essential for evaluating value rather than simply picking likely winners.