There is normally a favourite and an underdog, unless the teams are very evenly matched. We will then release betting odds on either team winning the match. They will factor in home advantage, form, head-to-heads, injuries, motivation and other concerns. The oddsmakers at TopSport will assess the relative strengths and weaknesses of both teams. Let’s say you want to bet on an NRL game. They tell you the profit you would earn by placing a particular bet on a sporting event or a horse race, and they also highlight the implied probability of each bet succeeding. What are Betting Odds?īetting odds serve two key purposes. Read on to become an expert in betting odds. This guide breaks down the different odds formats, explains the concept of implied probabilities and teaches you how to calculate your potential profit. You need to gain a thorough understanding of how to read betting odds before beginning your sports betting journey. Betting Odds Explained: Calculation, Probability and How to Read Odds
