How does sports betting work, and what should beginners know?

Fords asf 7 d

Suppose there's a football(Soccer) match between Teams A and B. Team A is much stronger than B, hence the statistics and probability tell you that Team A has got better chances of winning. Hence, the odds of this fixture will be something like

Team A draw Team B = 1.2 3.75 9.0;

which means that if you bet 10 bucks on A and A wins, you get 12 bucks in return. Net Profit=2. If you bet on a draw then you stand a chance to win 37.5, ie profit of 17.5 bucks and if you are really daring, you bet on the weaker team B and IF they win, you can earn a whooping 90 bucks thereby making a profit of 80.