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One of the most important things to understand is how betting odds work and what they mean.
They aren't as straight-forward as decimal or fractional odds.
Plus odds tell you how much profit you will get on a $100 bet.
Fractional odds are, as the name indicates, displayed as fractions, like 3-1 or 7-4.
These are more commonly used outside the US when the fractions used in fractional odds get a bit ugly.
If the odds are +200 that means the book is giving you the odds that the bet will come in one-third of the time.
If you think the likelihood is higher than that, it is a good bet.
This is similar to pot odds in poker, for example.
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