how do betting odds actually work I've been faking it for way too long
Honestly, I've been making picks for years but I've just kind of winged it when it comes to the actual numbers behind odds. Like, I get the general idea that lower odds mean something's more likely, but all the moneyline and fractional stuff just blurs together for me when I try to quickly size up value during a game. Usually, I trust my gut, some stats, and whatever backup plan I've got for covering risk.
I've pulled off some wins betting on poker and blackjack by thinking about EV and probability, but for sports it's trickier. It feels like there's some formula that people use for calculating if a bet is actually worth it long-term, but I’ve just been acting like I know what's going on so I don't look clueless at the sportsbook. Maybe I've been overcomplicating things or missing something obvious.
Anyone actually use odds to get an edge, or is it all gut plus luck for you too?