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Post by CrepedCrusader on Feb 4, 2021 0:51:10 GMT
I know literally nothing about betting. Imagine what a five-year-old would know, and assume that I know less. Long story short, my brother convinced me to deposit some money on fanduel to make a bet for him on the Super Bowl. There's $5 left to do whatever I want with, and that's why I need some help. I want to put the $5 on the favored team in an upcoming NBA game. The team I was going to bet on has -400 odds. When I plug in the $5 wager, it says I'll make $1.11. Does this mean I'll PROFIT $1.11, or make back $1.11 TOTAL thereby losing $4.89? Doesn't make sense to me that you could lose money by winning a bet.
NOTE: Online sport betting is legal in my state, just in case anyone was wondering.
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Post by ThreeSticks on Feb 4, 2021 0:53:32 GMT
I know literally nothing about betting. Imagine what a five-year-old would know, and assume that I know less. Long story short, my brother convinced me to deposit some money on fanduel to make a bet for him on the Super Bowl. There's $5 left to do whatever I want with, and that's why I need some help. I want to put the $5 on the favored team in an upcoming NBA game. The team I was going to bet on has -400 odds. When I plug in the $5 wager, it says I'll make $1.11. Does this mean I'm PROFIT $1.11, OR MAKE BACK $1.11 TOTAL thereby losing $4.89? Doesn't make sense to me that you could lose money by winning a bet.
NOTE: Online sport betting is legal in my state, just in case anyone was wondering.
-400 odds on $5 bet should be a win of $1.25 and the payout would be 6.25
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Post by CrepedCrusader on Feb 4, 2021 0:55:33 GMT
I know literally nothing about betting. Imagine what a five-year-old would know, and assume that I know less. Long story short, my brother convinced me to deposit some money on fanduel to make a bet for him on the Super Bowl. There's $5 left to do whatever I want with, and that's why I need some help. I want to put the $5 on the favored team in an upcoming NBA game. The team I was going to bet on has -400 odds. When I plug in the $5 wager, it says I'll make $1.11. Does this mean I'm PROFIT $1.11, OR MAKE BACK $1.11 TOTAL thereby losing $4.89? Doesn't make sense to me that you could lose money by winning a bet.
NOTE: Online sport betting is legal in my state, just in case anyone was wondering.
-400 odds on $5 bet should be a win of $1.25 and the payout would be 6.25
Thanks for the reply. (Oh, and I put the wrong odds, it was -450.)
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Post by hoskotafe3 on Feb 4, 2021 2:17:45 GMT
A lot easier here in Australia. They'll list the payout for a $1.00 bet rather than the odds. Even money bet in a two team sport is about $1.80 each.
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Post by ThreeSticks on Feb 4, 2021 2:39:40 GMT
A lot easier here in Australia. They'll list the payout for a $1.00 bet rather than the odds. Even money bet in a two team sport is about $1.80 each. -400 or +400 essentially does that.
-400 means you have to wager $400 to win $100
+400 means you win $400 on a $100 wager
in both scenarios, the payout is $500
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