Like myself, I guess many gamblers here are getting confused on properly understanding about what is odds and what its significance in deciding profit levels. (I guess on the event of loss, there will be no need of odds as there will be only zero payments, right ?).
I just checked on wikipedia and found this:
In gambling, the odds on display do not represent the true chances (as imagined by the bookmaker) that the event will or will not occur, but are the amount that the bookmaker will pay out on a winning bet, together with the required stake.
I am just a dice gambler (precisely, I am a gambler only after adopting cryptos) and now want to extend my gambling into sports betting too. I have tried few dart and cricket betting and made profits too as per my friend's guidelines and honestly at those times I never bothered about what was odds. But, now I want to be independent sports better hence want to learn about odds.
By simply skipping the part of "odds", will we able to make profits in sports betting like capability of predicting the winning team is alone enough ?