Originally Posted by Chrissie-fan
Not being a betting man myself, what does this all mean? The lower the number the more likely they are to win?
Exactly. The odds tell how much money you are paid if your bet of 1 wins. If the odds are 2.00, you get your money doubled - this is also known as evens
, a toss-up
In a tennis match, the favorite (as the market sees it) will always have odds between 1.00 and 2.00, while the underdog will have odds from 2.00 and up.
The odds also estimate the probability that the player wins. The favorite will have a probability between 50 % and 100 % to win. Odds 1.67 corresponds to 60 %, odds 1.25 corresponds to 80 %, and odds 1.11 corresponds to 90 %. Mathematically savvy readers will understand that the odds and the probability are reciprocal numbers.