What Are the Best Betting Odds Used In Greyhound Racing In NSW?

 Odds also show how much money you will win if you place bets on an event to happen. The higher the betting odds are, the more you will win in the race relative to your stake. The lower the odds for a participant, the less money you will succeed. The higher the odds for a particular racer in a race, the more money you will win in greyhound racing in NSW.

greyhound racing in NSW

Odds in betting tell you how likely an event is to happen. Therefore, betting odds represent the probability/likelihood of an event occurring.

  • Low odds mean something is likely to happen
  • High odds imply something is unlikely to happen

Odds vary a lot

Bookmakers compile betting odds to represent what they believe is the likelihood of an event or events happening. You may hear from your usual punter that they offer the best betting odds, but it’s usually not true – in several cases, there are other online bookmakers offering way better odds if you know where to look!

It is common for odds to vary by more than 20% between the worst odds and the best for any outcome. This is why it’s so important to actively compare betting odds for each race.

What is probability?

Probability is how likely a particular thing is to happen. If the bookmaker has an outcome to an event with a high probability, it’s more likely to occur than not. Conversely, if the event is deemed low probability, then it’s less likely to happen in greyhound racing in NSW.

Converting odds to a break-even percentage

In whichever way they are presented, being able to convert your betting odds into a break-even percentage is a crucial part of understanding that it is a good bet. For example, if the odds are +200, the book gives you a chance that the chance will come in one-third of the time. It is a good bet if the likelihood is higher than that. This is also similar to pot odds in poker, for example.
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