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Betting Odds

Betting is a form of gambling. It means predicting the outcome of a game by pacing a wager on the best man or the best team. Betting could also be between two friends on an outcome of an act. It may not always involve money but the one you wins a bet gets a prize in cash or kinds. Sports betting have grown in heaps and bounds recently. More than entertainment it has now excelled into a profession. Although the acceptance of betting as a profession varies with nation and religion, it has become a well known source of recreation and entertainment.

Odds:

In probability, odds is defined as p / (1 – p), where p stands probability. Probability means the chances of you to win or loose the bet. This term is mostly used by bookmakers in sports betting. For example an event if the probability ranges from 1 to 5 then the odds would be 0.25. On the other hand if the probability ranges between 4 to 5 then odds would be 4. Betting odds involve terms such as frictional odds, decimal odds, craps and money line odds. If you bet 1 according to the odds and then in return get 4 more along with the 1 that you put on stake then this is known as frictional odd. This in decimal odds would be represented as 5.0 in craps payout as 5 for 1 and in money line as +400. These betting odds vary according to the game you are betting. I.e. the betting odds for soccer are different to those for hockey. Thus, it is suggested to go through the betting odds of the respective game you are interested in, before making any deals or bets.

Slang used in betting odds:

Some betting odds slang are used to describe the frictional odds in betting. These are as follows, evens-levels are known as scotch, 2/1 is called bottle, 3/1 as carpet gimmel, 4/1 is known as rouf, 5/1 as hand, 5/2 as face , 6/1 is called as X's, 7/1 is known as Nevs, 8/1 as T.H., 9/1 is known as Enin, 10/1 as Cockle and Net ,11/10 is called as Tips, 33/1 is called as Double Carpet,100/30 is known as Burlington Bertie.