Are you able to understand betting terms like odds/against, odds/on, 3-1, 1-2 etc.? Can you throw light on some of them?
odds/against: you expect that possibility NOT to take place
eg the odds against are5:3 means that if the person placing the bet wins he win 5 rs for every 3 rs he bets.
odds in favour means that we expect the event will not to occur. I
ex we bet on an outsider 20:1 and place a bet of Rs 500.that means that if that horse wins for your Rs 500 you get 500*20=10,000
For a favourite odds are 2:1,3:1