For example, if the Patriots are playing the Jets, betting sportsbooks will put “odds” on either the Jets winning or the Patriots winning, depending on how likely each outcome is.Ī simple analogy: If you were betting on a coin flip, your odds would be 50% tails, 50% heads. Betting Odds Calculator and Converter What are betting odds?īetting odds are the chance that a particular event will have a particular result.
