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    Understanding Betting Odds

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    8/26/ · In Summary: Betting Odds Explained. Betting odds represent the probability of an outcome occurring and the return (profit) you will receive if your bet is a winner. It could be the likelihood of all of your final four betting picks being correct. The probability represented by betting odds is often referred to as the ‘implied probability’.

    Understanding Betting Odds

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    Questions about the appropriateness of imposing such limitations on the regulated sports betting, however, still linger.

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