To make wagering more even, the oddsmaker or bookmaker draws up an odds line, If Palmer does win, you get $16 back, the $1 you bet plus the $15 you won. say a touchdown which means your team must win by 7 points or more.
The two most common options used are Decimal and American odds. But what is the difference, how do you calculate returns for each format.
What Do The Odds Mean? American Odds always use a baseline value of For favorites you are always risking the money to win and with.