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Sports Betting Odds

Dear Mark,

In sports betting, what is the difference between taking odds and laying odds?

Benny F.

With sports wagers, you can either be "taking the odds" or "laying the odds." A bettor who is "taking the odds" is wagering an amount that is less than they will receive if they win; that is to say, if you wager $100, you would win more than $100.

What "laying the odds" means is that some odds are so high in favor of the likely winner, that winning wagers are paid an amount less than the amount wagered.

Gambling quote of the week: "Always remember, the first thing a gambler has to do is make friends with himself. A lot of people go through this world thinking they're somebody else. There are a lot of players sitting at this table with mistaken identities." Pug Pearson, Fast Company (1975)

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