My question is , on a betting slip of :
team 1 : 2.88 Team 2 : 2.75
What does this number signify? Is that a number in bitcoins? If betting 0.5 bitcoins, the bet earns 2.88 bitcoins or loses 2.88 bitcoins? Same with the 2.75?
Or does it signify multiplication, i.e , betting 0.5 bitcoins times 2,88 and that
is the end winning number.
Please clarify, thanks
Hello.
The odd is the payout multiplier. A back bet of 1 BTC at 2.88 odds means that in case of your team wins, you will receive 1*2.88 = 2.88BTC (2.88-1 = 1.88BTC pure profit)
On betbtc you can bet not only "on a team" (back bets / left side / green zone) but you can also bet "against a team" (lay bet / right side / red zone). On this second situation, odd doesn't means your payout multiplier but the amount you are liable to pay in case of that team wins.
To place a 1BTC lay bet at odd 2.88 you are liable on 2.88BTC and you will have a profit of 1BTC in case they don't win (backers stakes).
The lower the chances, the higher the odds will be. (risk/reward)
For more info please read this article:
https://betting.betfair.com/what-is-lay-betting.htmlIf you still don't understand please contact again.
Thanks
