Sports Betting: The Essentials
Sports Betting: How does it work?
Through sports betting, you can win money by correctly predicting the result of a sporting event. To place a bet, simply decide on a sporting event, choose your stake (the amount of money you'd like to bet) and confirm your bet.
Odds are allocated to every sporting event. The odds show your possible winnings and give you an idea of the probability of the outcome. The higher the odds, the greater the potential win. However, higher odds mean that it is less likely the event will happen.
Sports Betting: How much can you win or lose?
After you have won your sports bet, the sports betting website pays you an amount equal to the odds multiplied by your stake. To calculate your profit, you have to subtract your stake from this sum.
Profit = (Stake*odds) - Stake
If you had bet 10 euros with odds of 20 to 1 on Liverpool's victory in the Champion's League in the 2014/2015 season, then you would have made a profit of 190 euros (20*10-10) from Liverpool's win.
If you lose your bet, you lose your stake. You cannot lose more than your stake.