Matched betting is available to everyone. You don’t even need to have placed a bet before! But before we get started, allow me to explain how betting odds work.
What are betting odds?
Betting odds are numbers used by bookmakers to represent the probability of an outcome occurring.
What is probability?
Before we can understand betting odds, it’s important to understand probability.
Probability is basically the likelihood of an outcome happening and is usually displayed as a percentage.
For example, if we were to toss a coin, there are two possible outcomes. There’s a 50% chance that the coin will land on heads and a 50% chance that the coin will land on tails.
How do betting odds work?
Betting odds tell us how much we stand to win if our bet is successful.
They can be displayed as fractions or decimals.
Traditionally, bookmakers display their odds as fractions, such as 9/1 on England to win the World Cup.