The Nature of Odds in Sports Betting
Odds are the cornerstone of sports betting. They are numerical expressions derived to describe the likelihood of an event occurring. In the context of sports, this could be the winning of a team, scoring of a goal, or any other measurable outcome in a game or match. Bookmakers and sports betting apps set GGBet these odds. However, while they are designed to reflect probabilities, the odds also embed the bookmaker’s need to secure a profit margin. As a result, odds do not represent pure probabilities but are a combination of […]