8/26/ · In Summary: Betting Odds Explained. Betting odds represent the probability of an outcome occurring and the return (profit) you will receive if your bet is a winner. It could be the likelihood of all of your final four betting picks being correct. The probability represented by betting odds is often referred to as the ‘implied probability’.
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You win your bet on a goalless match, on one goal you lose half the bet and on two or more goals you lose your entire bet.
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