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How To Understand Odds And Win
Understand Odds And Win. The odds a bookmaker offers you let you know how much money you could win, but it is important to understand what they mean, to know whether a bet is good value for money or not.
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Step 1:
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Calculating the odds
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Bookmakers will look at around ten different factors when setting odds. Some of these variables include the jockey, the trainer, the horse's form and the horse's breeding. They will then set a price for every horse, with the favourite being around evens or 2 to 1, with a horse unlikely to win being as much as 100 to 1. This price represents the amount of money you will win for every pound you bet.
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Step 2:
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Odds on display
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On betting screens in a bookmakers shop, horses are listed from the favourite down to the outsider, i.e. from the smallest odds to the largest.
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Step 3:
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Complicated odds
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Not all odds are whole numbers, such as 9 to 1. Odds such as 11 to 2 are another way of representing 6 and a half to 1. If there is a price on the screen that you do not understand, a staff member in the betting shop will be able to help you
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Step 4:
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Internet odds
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On betting websites, there is the option to display odds as fractions or decimals. Even odds in fractions is 1 to 1, or 1/1. In decimals, even odds is 2.0, which represents the total money you will get for a winning bet, 1 pound that you won and the original 1 pound stake.
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