With the recent legalization of sports betting in my region all I hear now is over under this, odds of 5-1 that. Then they start talking like pirates with parlay or maybe it’s parfaits, Are they meeting to discuss a truce for unpaid debts? I’m just so confused. Also who comes up with these numbers? Is there like a council of bookies that oversee the gambling world, are the numbers regional?
In: Mathematics
**Over/Under:** This is the total amount of points scored in the game (football). You’ll usually see a number like 52.5. or 47.0.
People wager on whether or not there will MORE (Over) than 52.5 points scored, or fewer (Under).
Usually (but not always), the odds for a wager on a bet like this are 11/10, meaning you have to wager $11 to win $10.
It’s expressed as **-110,** meaning $110 would win $100 (or as was shown above: $11 wins $10).
So how does the book make money?
You think there will be more than 52.5 points scored and wager $11. I think there will be fewer and I also wager $11.
One of us is going to win $10… and also get our money back for a grand total of **$21.**
Yet the book took in a total of $22 in wagers. So they’ll pay out $21 and keep a dollar for themselves.
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