How do odds work in sports gambling?

Question

Hi. I never did any betting before. I would love to place a bet on the champions league final game. The odds are 8/11 for united to win and chelsea are evens. Can someone please explain to me how this works and what does 8/11 or 'evens' mean? please explain clearly as this is something that i never understood and would love to get the hang of it.

Cheers!

P.S. Whoever's clever should place a bet for chelsea to win!!!

Answer 1

From other posts, I'm not sure if britain uses a different system than the US.

Here's how I understand it: if it's stated 8:11, that means if you bet 8, you win 11 + the original 8, or $19 total. If it's evens, or 1:1, if you bet 1, you win 2.

However, from other british posts, I get the feeling it's stated oppositely, which would make more sense here: betting 11 will win you 8, or 19 total. I think it is like this because then you could bet 100 on both teams in this example, break even if chelsea wins, and win something if united wins..basically, this is a proposition you can't lose.

Answer 2

Here's a simple way for your to figure it out...

Just take the odds 8/11 and remember from grade school that a fraction is a division problem. 8 divided by 11 = 0.73 Simply take this number and times it by your wager amount to get your answer, we'll say you are risking 10 quid....0.73 x 10 = 7.30 Your profit will be 7.30 quid plus your 10 refunded for a total return of 17.30 quid.

Answer 3

You can find all kind of betting odds explained at http://bettingwise.hit.bg/Sportsbettingt...