![]() ![]() One of the most common misconceptions is that bookmakers only make money when players lose a bet. ![]() Why is that? Well, if the bookmakers set the odds at true odds, they wouldn’t make a profit in the long term. However, if you visit a sports betting site, you will see that for all matches in which the bookmakers think both players have the same chance of winning, the odds are displayed like this: In that case, the odds for that match would be 50:50 and they should be displayed in odds (decimal) like this: In other words, they have the same chance of winning. There are a few different types of betting odds, with the most popular being decimal, American and fractional, but no matter in which format they are displayed, they all work in the same way.īookmakers like 789betting use betting odds to show the chance of a certain outcome happening in a match, game, or event.Īs an example, let’s take a game with only two outcomes, say a tennis match, in which both players are of equal skill.
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