I always just nod my head when people start talking like “I’ll give you 2 to 1 odds,” but I definitely am not sure what they mean.
I THINK I do–so like if team A is playing team B, and I am trying to convince you to place a bet with me, and I am SOOO confident that team A will win, I might say, “I’ll give you 2 to 1 odds that team A wins,” it means if we both put $5 in the pot, and If I win, I’ll get $10 bucks back (my 5 and his 5), but if he wins he makes more than 10? Does he make $20?
In: 2
2-1 means you’d get back (or owe) double the bet. You’d do it to convince someone to take a bet they may otherwise not take by offering them more of a payout if they win.
“I’ll bet you $10 that the Knicks beat the Celtics”
“The Knicks suck. No way”
“I’ll give you 2-1 odds”
Meaning, I’ll give you 20 if the Knicks win, you give me 10 if the Celtics do.
That help?
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