📄Annex 2 - Basic Elements

Basic Elements of a Bet

A Bet is a contract between Oddsmaker and Oddtaker for an ability A to occur or not. If A occurs, Oddsmaker pays for Oddtaker. If A does not occur, Oddtaker pays for Oddsmaker

• Wager: is the contract value

• WinWager: is the amount that a punter will receive if he wins

• LossWager: is the amount that a punter will have to pay if he loses.

• Odd: the rate between WinWager/Wager (or LossWager/Wager)

• The relation between Odd and P(A): Odd = 1 / P(A)

For example:

(1)	LIV	MU	Draw
P	0.5	0.2	0.3
Odd	2	5	3.33

(2)	MNC	LIV	FCB	CHE	RMA	AMD	VCF	SLB
P	0.4	0.2	0.2	0.07	0.07	0.03	0.03	0.01
Odd	2.5	5	5	14.28	14.28	33.33	50	100

(3)	<=20	>20 & <30	>=30
P	0.1	0.7	0.2
Odd	10	1.43	5