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The primary difference between pools betting and fixed odds betting is how the winnings are calculated. In fixed odds betting you are playing against the bookie, who will give you your odds at the time of bet placement or, if you’ve taken SP in a race, at the off. As such you are able to calculate your winnings before you know whether you’ve won. Let’s pretend that we are playing a horse racing pool containing four legs. (more…)
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Also, you will receive your initial bet amount of $100 as well, for a total of $275 in your hand. This also means that your wager won’t profit as much as it would if it was a positive number. For instance, a $100 wager on +220 odds would return a profit of $220. However, a team with -220 odds would require a $220 bet to return a profit of $100. Moneyline betting is ideal for times when you’re not convinced the favorite will cover the spread, but you still think they’ll win. (more…)