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Odds of +200 mean you can winR$200 on aR$100 bet, but there's no quick way to determine the implied winning probability. If these odds appeared as fractional odds 2/1 you could quickly solve for the implied winning probability using this formula: Decimal / (Numerator + Denominator) x 100%
Sports Betting Payouts\n\n Sometimes the payout shown includes the money you wagered for instance, if you betR$10 to winR$50, the payout would showR$60. If it doesn't, just add the amount you bet to the potential winnings to determine the total payout. You can also calculate potential odds and payouts before making a bet.
While you have a house edge, you need to deal with the possibility of shelling out money regularly. This is especially the case if an underdog wins a popular game that people bet on- one event can cost you thousands. Luckily, successful bookies can make anywhere from $5000-$10,000 in a single week.
Bookies are usually paid a commission at the end of every week on their total books losses. From interviewing a variety of bookies, these commissions often vary from 10-20% (let's assume 20% because those are the ones that I have seen more often).
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