| The Gray Ghost | 01 May 2011 3:21 p.m. PST |
Whenever I watch the EPL they always give to odds on who is favored to win, one team was 13/2 to win.
What does that mean? |
 John the OFM  | 01 May 2011 3:26 p.m. PST |
The bookies are trying to have an equal amount of suckers bet on one side of the line as the other.
Mebntal gymnastics ensue. |
| cfuzwuz | 01 May 2011 3:43 p.m. PST |
If you bet on the favorite to win 2 you have to risk 13. If you bet 2 on the underdog and they win you win 13. |
 Doms Decals  | 01 May 2011 4:19 p.m. PST |
Before the / is what the bookie's betting, after it is you, so 13/2 means the bookie puts up $13 USD for every $2 USD you're betting. You also get your stake back if you win, so if you bet $20 USD at 13/2, you'd hand over $20 USD for the bet, and get $150 USD back if it won. |
| Waco Joe | 01 May 2011 4:35 p.m. PST |
But only in those jurisdictions which recognize legal sports betting and in which the appropriate taxes are withheld from the winningd and reported to the appropriate revenue collecting agencies. Otherwise that would be illegal gambling and that would be "wrong". 
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| The Gray Ghost | 01 May 2011 4:53 p.m. PST |
So is the higher the number mean there is less chance on a team winning?
3/2 vs 13/2 |
| John the OFM | 01 May 2011 5:00 p.m. PST |
If you hjave to ask, you shouldn't be betting.  |
| pphalen | 01 May 2011 7:16 p.m. PST |
What the OFM said…
(Except replace "hjave" with "have") |
| Zyphyr | 01 May 2011 9:12 p.m. PST |
So is the higher the number mean there is less chance on a team winning? That is what they want people to believe, but as the OFM stated in the very first response, the numbers are based on what they think it will take to even out the betting and not on how likely one is to actually win. usually there is some correlation, but there is no guarantee. |
| adub74 | 02 May 2011 11:11 a.m. PST |
Wow, you guys are being rather obtuse. An event that pays 3/2 is more likely to occur than one that pays 13/2. The 13/2 pays $13 USD for every $2 USD you invest because it is more risky than the 3/2 that only pays $3 USD for every $2 USD you invest. Less likely to win, more risk, higher pay out, bigger number. As everyone else mentioned, the odds are set to strike a balance in the betting. The balance may deviate from reality if there is a really popular team, sympethic story line, or a chance for a rare event such as a horse winning the triple crown. This deviation is where professional gamblers pay their rent. |
| RoyceKamren | 21 Sep 2022 2:32 a.m. PST |
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