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Quote from: kraidstar on September 28, 2016, 12:28:05 AMQuote from: LarBrd33 on September 28, 2016, 12:12:06 AMI don't understand what betting odds mean. What's the difference between 4/5 odds and 18/1 odds?Does that mean if you bet $10 dollars on the Celtics winning the title and they succeeded, you'd win $180 ($170 profit)...Whereas... if you bet $10 dollars on the Warriors winning the title and they succeeded, you'd get back $8 for a $2 loss? LolYou got it right, except that you don't lose your original money, you get it back. So if you bet $10 on the warriors you get your $10 back plus the $8 from winning the bet. The victor takes everything. There's another major type of betting in American sports, baseball uses it a lot.You might see a game at +225. Like when David Price is pitching in a high-pressure game. It means you need to bet $100 on Price, and if you win you get $225.Likewise if the line is -225, that means you have to bet $225 to win $100.Ah ok that makes sense. Thanks for finally clearing that up for me. So if it's +X, that's the amount you have to bet to win $100. I genuinely didn't know that. As I've said before, I stopped gambling when I lost all my Pogs to Ryan Thomas in 4th grade.That's a pretty large chasm between 18/1 odds and 4/5 odds, then. Are 18/1 odds typical of a team projected to have the 4th best record? Or are these odds essentially saying, Golden State is the shoo-in, Cavs have a long-shot chance... everyone else is like betting on the Washington Generals in a Harlem Globetrotters game?
Quote from: LarBrd33 on September 28, 2016, 12:12:06 AMI don't understand what betting odds mean. What's the difference between 4/5 odds and 18/1 odds?Does that mean if you bet $10 dollars on the Celtics winning the title and they succeeded, you'd win $180 ($170 profit)...Whereas... if you bet $10 dollars on the Warriors winning the title and they succeeded, you'd get back $8 for a $2 loss? LolYou got it right, except that you don't lose your original money, you get it back. So if you bet $10 on the warriors you get your $10 back plus the $8 from winning the bet. The victor takes everything. There's another major type of betting in American sports, baseball uses it a lot.You might see a game at +225. Like when David Price is pitching in a high-pressure game. It means you need to bet $100 on Price, and if you win you get $225.Likewise if the line is -225, that means you have to bet $225 to win $100.
I don't understand what betting odds mean. What's the difference between 4/5 odds and 18/1 odds?Does that mean if you bet $10 dollars on the Celtics winning the title and they succeeded, you'd win $180 ($170 profit)...Whereas... if you bet $10 dollars on the Warriors winning the title and they succeeded, you'd get back $8 for a $2 loss? Lol