When you bet on sports, you are betting against the outcome of a game. There will be two teams and one outcome: win or lose. For each outcome there is a percentage chance, which is known as the probability.
What is Probability?
Before placing bets, it is important to understand how probabilities work. Let’s take an example:
- For team A, say that they have 60% chance of winning
- Then for team B, they have 40% chance of winning
Which should You Bet on then?
In this instance, Team A has a higher chance of winning than Team B. If you were going to place your money on Team A, then you would have a higher probability of winning because there is more likelihood that they will win.
If you were going to place your money on Team B, then your odds are lower because their chances of winning are only 40%. This means you have less chance of making profit from placing your bet on Team B.
It Lurks on every Sport
Each sport has its own set of rules and strategies that make it unique from other sports. To increase your chances for betting profitably, take the time to learn about each sport before placing a wager so that you can understand the probability behind the outcome.