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One of the first ideas for any newbie bettor to understand is **betting odds**. Odds characterize the probability of a specific consequence occurring. They come in three major codecs: fractional, decimal, and moneyline. For example, fractional odds (like 5/1) point out that for every $1 wagered, $5 could be received if the wager is successful. Decimal odds are a bit simpler to grasp, simply representing the entire payout from a bet, together with the initial stake. Moneyline odds present the quantity gained on a $100 guess |