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What 20-to-1 means: When you see 20-to-1 odds, you're looking at a long shot that is unlikely to win. In fact, the implied win probability for a team that's 20-to-1 is 4.76%. However, should that long shot come in, it would pay out $20 for every $1 wagered.
One number will be given, such as '47 2 for an NFL game total. You can then either bet the 'over' or the 'under' and it's exactly as it sounds. If you bet the over, you want there to be more than 47 combined points scored, and if you bet the under you want there to be fewer than 47.
In basketball, if you place an over 1.5 bet, it means you are predicting that there will be two or more points scored in the game. In baseball, if you place an over 1.5 bet, it means you are predicting that there will be two or more runs scored in the game.
