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Back to lobby > The Ultimate Guide to Understanding Sports Betting Odds and Bet Types One of the key elements of successful sports betting is understanding odds. They are typically represented as a ratio, a fraction, or a decimal. If you bet $100 on a team with +150 odds, the potential payout would be $250 (100 x 2. For example, if you bet $100 on a team with 1. Outright bets, also known as futures bets, are wagers placed on the outcome of a competition or tournament rather than the outcome of a single game. For example, you may bet on the winner of a football game. You may bet on whether the total number of points scored will be over or under a certain number. 5 handicap, which means they need to win by at least two points for the bet to be successful.

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