When we see +20000 odds, we’re looking at a betting scenario where the outcome is highly unlikely to happen or win, at least this is what the sportsbook you’re betting with thinks.
This number signifies that for every $100 you bet, you stand to win $20,000 should the outcome you’ve bet on occur.
Why is it so high? Odds of this magnitude are usually associated with underdogsāteams or individuals that are not expected to win.
The higher the odds, the lower the perceived probability of the outcome happening. Essentially, you’re betting against the odds, but every once in a while someone wins big.
How does this affect your betting strategy?
While the potential payout is attractive, it’s important to consider the risk involved and realize that a +20000 odds is kind of like buying a lottery ticket.
Betting on such long odds can be risky as the likelihood of winning is low. However, if you’re confident in your prediction, it could lead to a substantial payoff if you’re right.
What happens if you bet $100 on the money line?
If you were to place a $100 bet on a team or individual with +20000 odds and they win, you would receive a whopping $20,000.
This is because the odds are calculated by multiplying your stake by the odds. So, in this case, $100 (your stake) x 200 (the odds) equals $20,000.
When should you consider this type of bet?
You might consider placing such a bet when you have done thorough research and truly believe that the underdog or the number of combined bets you’re making has a fighting chance.
It’s also worth considering if you’re willing to take on more risk for the potential of a larger reward.
Finding the most profitable odds with odds comparison tools
Comparing odds across different bookmakers can help you find the most profitable betting opportunities that can help you find value bets to create a +20000 odds bet that has a higher chance of winning.
Tools like OddsJam can be incredibly handy in this regard, helping you analyze and compare odds to ensure you’re making the most informed decisions.
Remember, sports betting should always be approached responsibly. While high odds might look tempting due to the potential large payout, they also come with a higher risk.
Never bet more than you’re willing to lose, and always do your homework before placing your bets.