Betting odds are a representation of the probability that an event will occur. In each event, every outcome has a chance of taking place. Odds are simply an interpretation of these chances.
On picklebet, each betting market offered will have odds attached.
Odds are represented in decimals, from 1.01 through to 1001. 2.00 represent an even likelihood of an outcome occurring.
The closer the odds are to 1.00, the higher the likelihood this event will occur. These are called short odds. The further the odds are away from 1.00, the lower likelihood the event the event has of occurring. These are called long odds.
The longer the odds, the bigger potential payout. The shorter the odds, the smaller the payout.
When you place an esports bet, you stake an amount of money on the outcome of a particular betting market. The stake amount is multiplied by the odds of that market, to create the potential payout you will receive if your selection is a winner.
If the odds for mousesports to beat BIG are a 1.70 and you stake $10 on mousesports to win, your potential payout would be:
$1.70 (odds) x $10.00 (stake) = $17.00 (payout).