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Deal: Get Up to ₹1000 Instant CashbackGenerally speaking, betting odds tell you how likely a certain event is to happen and how much money you could win. Unfortunately, they might initially seem rather complex to most players. To help you understand them, we will try to give you a simple explanation. In a nutshell, political betting odds are used to calculate the probability for an event to happen. If you guess right, you could win, and if not, you will simply lose your bet.In most cases, you will find the odds listed as two numbers separated by a slash such as 5/1. You can use the numbers to calculate how likely is a certain event to happen. To ease the explanation of how to do so, we shall replace the numbers with letters and 5/1 would become A/B. To calculate the probability, you should use the following formula: B/(A+B) = % Probability. Thus, if the odds are 5/1, the calculation would look the following way: 5/(1+5) = 5/6 = 0.833 = 8.3%. With this fraction, you will be able to tell how likely the occurrence of a certain event is. Wondering how much you would earn? For example:
- 5/1 for every £1 you bet, you will win £5
- 4/1 for every £1 you bet, you will win £4
- 1/1 for every £1 you bet, you will win £1
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