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>> No. 4988 Anonymous
26th October 2013
Saturday 9:28 pm
4988 Betting Odds
I don't understand the numbers that are displayed in betting shops. I don't under the concept of odds in betting. I add them up and they don't total 100%, so I have no idea what those numbers represent. I keep this a secret, lest people laugh at my stupidity.
Expand all images.
>> No. 4989 Anonymous
26th October 2013
Saturday 9:49 pm
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>>4988

Assuming this is a real post, 50/1 or "fifty to one" odds indicate that should your bet pay off you will be paid back 50 units for every unit of currency you bet, plus your original stake.

Thus, betting £1 at 50/1 will mean you will be paid back the sum of £51 should what you bet on, in fact, happen.

If you mean American and/or decimal odds then I too do not understand them and need a converter to convert them to good old British odds...
>> No. 4990 Anonymous
26th October 2013
Saturday 10:15 pm
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>>4989
What do you mean, "assuming this is a real post?"

Anyway, I think I understand it. So when I see it like this (50/1), it means that they denominator is a multiple of what I will be paying, and the numerator is a multiple of what I will be getting? Does that mean 50/1 are good odds? Or risky? (2/1) seems pretty safe to me. Could it be the odds of, say, Arsenal beating a team from the lower leagues?

I have no idea what the American decimal odds are.
>> No. 4991 Anonymous
26th October 2013
Saturday 10:24 pm
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>>I have no idea what the American decimal odds are.

FInd out for yourself dickhead.

More betting shops opening. It's a business. Think about it.
>> No. 4992 Anonymous
26th October 2013
Saturday 10:32 pm
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>>4991
Play nice.
>> No. 4993 Anonymous
26th October 2013
Saturday 10:33 pm
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>>4992

He's the Yank cunt realising that he will never secure good clunge. Don't expect much better tonight.

Don't worry OP, fractions are the way forward.
>> No. 4994 Anonymous
26th October 2013
Saturday 10:46 pm
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>>4990

>Does that mean 50/1 are good odds? Or risky?

50/1 implies that the chance of that outcome is approximately 1.96%. Odds of 2/1 imply a probability of 33.33% and 1/1 ("evens" in bookmaking parlance) implies a 50% chance. Odds with a low implied probability are called "long odds" and odds with a high implied probability are called "short odds". Commentators will often talk about the odds lengthening or shortening, as bookmakers adjust their odds based on new information or changes in the betting. Odds shorter than evens are called "odds on". Odds of 1/4 imply a probability of 80%.

The job of a bookmaker is to set odds slightly longer than the actual probabilities, such that the probabilities implied by the odds for all of the possible outcomes sum to greater than 100%. This is called "over-round" and is how bookmakers turn a profit. In the long run, the over-round ensures that the bookmaker will pay out less than he takes in. The over-round is equivalent to the house advantage in casino games like roulette.

From the gamblers perspective, "good odds" are where the bookmaker has over-priced an outcome, providing the gambler with an opportunity to profit. If a gambler believes that a horse has a 1 in 4 chance of winning, then odds longer than 3/1 would be favourable for him.

This traditional notation (fractional odds) is inconvenient for giving very precise odds or performing calculations, so modern gamblers tend to favour decimal odds. Decimal odds represent the total return on a given stake, so a bet of £1 at odds of 2.00 will return £2, a bet of £100 at 1.02 will return £102, a bet of £5 at odds of 10.00 will return £50 and so on.
>> No. 4995 Anonymous
26th October 2013
Saturday 10:49 pm
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>>4994

>a bet of £1 at odds of 2.00 will return £2, a bet of £100 at 1.02 will return £102

Odds on that at least one of us has had a little too much to drink tonight.
>> No. 4996 Anonymous
26th October 2013
Saturday 10:52 pm
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>>4994
This, with one small correction:
>set odds slightly shorter than the actual probabilities
>> No. 4997 Anonymous
26th October 2013
Saturday 10:54 pm
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>>4995

Nah mate, the return on decimal odds is just stake * odds. I think you're confusing profit and return. Your profit on a £100 bet at 1.02 would be £2, but your return would be £102.
>> No. 4998 Anonymous
26th October 2013
Saturday 10:55 pm
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>>4996

Correct, I really should have spotted that one.
>> No. 4999 Anonymous
26th October 2013
Saturday 10:56 pm
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>>4997

So I have had a jot too much to drinnk then. Thanks for letting me know.
>> No. 5000 Anonymous
26th October 2013
Saturday 10:57 pm
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>>4999 here.

I wish to let the following slide as it proves my point and shows that I was not slating >>4994 .

>drinnk
>> No. 5001 Anonymous
26th October 2013
Saturday 11:04 pm
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>>4992

Indeed. Where you come from, lad? Spakkerland?
>> No. 5002 Anonymous
26th October 2013
Saturday 11:14 pm
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>>5001

>Spakkerland

I immediately imagined all of the wobbly-limbed shagging I'd do in a country inhabited solely by people with cerebral palsy.

I either need serious psychiatric help, or a grant from SCOPE.
>> No. 5003 Anonymous
26th October 2013
Saturday 11:22 pm
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>>5002

Give 'em a buzz lad. Thay can probably kill two birds with one stone. Although don't do that yourself, the DNA on two corpses will probably have you sent down.
>> No. 5004 Anonymous
27th October 2013
Sunday 12:09 am
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>>4994
Fuck me. Thanks. The decimal one seems much, much simpler.
>> No. 5005 Anonymous
27th October 2013
Sunday 12:48 am
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>>5002

You fancy Christina, you do.

Is it because cerebral palsy ladies have constantly twitching fannies?

Just asking.
>> No. 5006 Anonymous
27th October 2013
Sunday 1:07 am
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>>5005
>Is it because cerebral palsy ladies have constantly twitching fannies?
Jesus Christ.

Is it true?
>> No. 5007 Anonymous
27th October 2013
Sunday 1:30 am
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>>Is it true?

Pervert


Yes.
>> No. 5008 Anonymous
27th October 2013
Sunday 1:37 am
5008 spacer
http://www.bettingexpert.com/blog/how-to-convert-odds

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