A sports bet is a simple deal: you accept odds offered by the operator and, if the outcome happens, you’re paid at those odds. This guide explains how to read odds, what probability they express and which bet types exist.
Where bets are placed
Odds are set by the external operator, which also accepts and settles bets. Keys Casinos does not accept bets or set odds.
How sports betting works
The operator publishes markets on an event — who wins, how many goals, which player scores — and prices each possible outcome with odds. The odds reflect the probability the operator estimates for each outcome, plus a margin that is its profit.
If you’re right, you receive your stake multiplied by the odds. If not, you lose your stake. No tip can guarantee a result.
Decimal odds
Operators in Argentina usually show decimal odds. The odds include your stake: the total return is stake × odds, and your net profit is that return minus the stake.
Hypothetical example
At odds of 2.50 with a stake of ARS 1,000, a winning bet returns ARS 2,500 in total, a net profit of ARS 1,500. These odds are made up to show the calculation; they are not real odds.
Implied probability
Every decimal price expresses a probability: 1 ÷ odds. Odds of 2.50 imply 40%; odds of 1.25 imply 80%. If you think the real chance is lower than the implied one, the price isn’t worth taking.
- Implied probability
- 40.0%
- Total return if it wins
- ARS 2,500
- Net profit if it wins
- ARS 1,500
Not a prediction and not real odds. If the bet loses, you lose the amount staked.
The operator’s margin
Add up the implied probabilities of every outcome in a market and the total comes to more than 100%. The excess is the operator’s margin.
Hypothetical example
In a tennis match with two possible outcomes, both priced at 1.90, each implies 52.6%. Together that’s 105.3%, so the margin is roughly 5%. Made-up odds for illustration.
The margin is why, on average and over time, bettors lose money.
Bet types
- Single
- One selection. The easiest way to understand your risk.
- Accumulator
- Several selections in one bet, all of which must win. Odds multiply, and so does the operator’s margin.
- Match result (1X2)
- Home win (1), draw (X) or away win (2).
- Double chance
- Covers two of the three 1X2 outcomes, at shorter odds.
- Handicap
- A virtual head start is added to or taken from one side to balance the market.
- Over / under
- Whether the number of goals, points or games goes above or below a line.
- Both teams to score
- Whether each team scores at least once.
- Outright
- Markets on a tournament winner or final season standings.
Pre-match and in-play
Pre-match: you bet before the event starts, with time to read and compare.
In-play: odds move during the game as things happen. The pace is fast and encourages impulsive decisions. If you bet in-play, set a maximum amount in advance and stick to it.
Most common sports
- Football: the sport with the most markets, from the result to cards and corners.
- Basketball: winner, points handicap and totals by quarter or game.
- Tennis: match winner, sets and games; very active in-play.
- Motorsport: race winner, podium or head-to-heads between drivers.
- Others: rugby, volleyball, combat sports or esports, depending on the operator.
The exact sports and markets are set by each operator and may vary by jurisdiction.
Quick glossary
- Odds
- The number your stake is multiplied by if you win.
- Stake
- The amount you bet.
- Settlement
- When the operator marks a bet as won, lost or void.
- Void bet
- A bet cancelled under the operator’s rules; the stake is usually returned.
- Cash out
- An option some operators offer to close a bet early for an amount they calculate.
Betting responsibly
- Only bet money you can afford to lose, within a fixed budget.
- Don’t chase losses: raising your stakes to win it back is a warning sign.
- Avoid betting on impulse, after drinking, or to “add excitement” to every match.
- Be wary of anyone selling “sure” tips or “fixed bet” groups.
More tools and help lines in our responsible gambling guide.
Frequently asked questions
No. We don’t publish predictions or “sure bets”. We explain concepts so you understand how odds and markets work.
For every 1 peso staked, a winning bet returns 1.50 in total: your stake plus 0.50 profit. The implied probability is about 66.7%.
They pay more because they are far less likely: every selection has to win. The operator’s margin also compounds with each selection.
It depends on the operator. Some offer a cash-out option before the event ends, for an amount the operator calculates.
Affiliate information
View sports betting at Betsson
Odds, markets and conditions are set by the operator on its own site.