To get success in anything your basic shoud be strong enough so that you can understand anything that comes to your way, like wise If you want to be good in Betting then you will have to be clear with some basic terms normally used in the betting.
What is Fixed Odds Betting?
When you place a fixed odds bet, you are staking a certain fixed amount of money against the bookmakers money to predict the outcome of the event. The bookmakers odds reflect how much you will win from the bookmaker if your prediction is correct.
What is Stake?
When placing a bet, your stake is the amount of money which you risk or gamble. If you win then your winnings are calculated according to the odds at which your bet was agreed.
What do you mean by Laying Odds?
This is another term for a bookmaker taking bets. By agreeing your bet, the bookmaker is laying that particular outcome of the event. The bookmaker is risking their money to lay, or to promise to pay the winnings, should your bet be successful.
What is Odds Against?
Odds against is the term used to describe a bet where you will receive a return of more than double your stake. The profit on the bet will be more than your stake.
What do you mean by Even Money?
Also known as EVS, this is when the return will be double your stake. The profit on your bet will be the same as the amount you staked. Both you and the bookmaker are risking the same amount on the bet
What is Odds On?
Odds on is the term used to describe a bet where you will need to stake more than you will win, In fractional terms this is anything with odds of less than EVS, so 1/2 is odds on. The word 'on' indicates that the odds are reversed. You may hear the expression 2/1 on referring to a selection with odds of 1-2
What does Short Odds mean?
This indicates that a selection has a good chance of winning. Short odds will be where you wouldn't receive a large return for your investment. For example a horse at 6/4 would be considered short odds.
What is reffer to Long Odds?
This indicates that a selection has a poor chance of winning. If you bet at long odds you will receive a good return on your investment if you are correct. For example, a horse at 50/1 would be considered Long Odds.
Now you understand odds its time to move on to How To Use Odds Comparison. At this rate you will be graduating from betting school in no time!
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