What does “Evens” mean in Betting? When you start in the world of online sports betting bitcoin, the first question that comes to mind is what are Odds and Evens? Let us understand these terms. We will first understand what is Odds and how to earn from betting?
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What are the Odds?
An odd is a probability. The number that appears to designate that probability also indicates what value you can earn by betting on an event or result.
In bookmakers, such as CoinBet24.com for example, the odds are set by their professionals, to represent the probability of an event happening. Odds are calculated with statistical data, team information and a series of other important data regarding the analyzed matches or events.
In a betting exchange, like Betfair, odds work differently. As Betfair is a betting exchange, the odds values are defined according to the volume of bets placed between the various players. It is the gamblers’ community itself that directly or indirectly defines the probability value for the event or outcome.
What does “Evens” mean in Betting?
Evens is a betting term that relates to the odds given by the bookmakers for a bet selection in a betting market of an event. When the bookmaker prices something as evens, it is excellently saying it is 50/50. In the betting, anything price is lower than evens is odds on and prices that are higher than evens are odds-against.
How to calculate Evens bet?
Let us say you are betting $10 on Team B to beat Team A at odds of 2.00 in the English Premier League. It means that your payout expected is $10 x 2.0 = $20. That is your $10 stake returned + $10 profit.
What are the benefits of Evens Betting?
– Increased chances of winning
– Use of betting systems
– Cover your live bets
– Gambling grinding on 2-way markets