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A straight bet, also known as a single bet, is a simple wager on a single outcome. The formula to calculate the potential payout of a straight bet is straightforward and depends on the odds and stakes of the bet.
The formula to calculate the payout of a straight bet is:
Payout = Stake * (Odds + 1)
Where:
– Payout is the potential payout of the straight bet,
– Stake is the amount of money wagered on the bet, and
– Odds are the odds associated with the bet.
Here is an example to demonstrate how the formula works:
Let’s say you place a $100 straight bet on a team with odds of 2.50 to
Win:
Payout = $100 * (2.50 + 1)
Payout = $100 * 3.50
Payout = $350
Therefore, if the team wins, you will receive a total payout of $350, which includes your initial stake of $100. This formula allows you to quickly calculate the potential payout of a straight bet based on the stake and odds offered by the sportsbook.
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