4 ms·

In case the author is here: What's the difference between "win probability of win" and "odds", please? The seem the same thing to me. And also, what are "deci

• kgwgk 2mo ago
  ‘Odds’ is the payout, the price of the bet, the prize you may win. And the ‘win probability’ is the probability of winning as the name suggests.
• seanhunter 2mo ago
  Decimal odds give the total payout (including stake) if you win a bet of 1. So if I place a bet of $1 at decimal odds of 2.5 and it pays out I receive 1 x 2.5 = 2.5. So payout = stake * odds. American odds (also sometimes called “moneyline” odds) have two presentations. - If the odds quoted are positive it indicates the net payout (excluding stake) from a bet of $100 dollars. So I place a bet of 1 dollar at moneyline odds of 150 it pays me 1.5 plus my original stake back. 150/100 * 1 + 1 = 2.5. So payout = stake + (odds/100 * stake) . A positive moneyline odds number means an underdog. - If the odds quoted are negative it’s how much you need to bet to win $100 (excluding stake). So if I place $1 at moneyline odds of -150 and it pays out I get 1 * 100/150 + 1 =1.667. Therefore payout = stake + (100/abs(odds) * stake). A negative moneyline odds number indicates a favourite. The higher the absolute value, the bigger the favourite as far as the house is concerned.