WATCH: Gambling 101 - Sports betting odds explained

If you're new to sports betting, working out betting odds can be difficult. That's why we are here to explain how the favourite and underdog works, as well as what are good odds and what are less favourable odds...

Whether it's football, golf, boxing, or tennis, odds are usually written out in a similar format: decimal odds, fractional odds and moneyline odds - but what do they all mean? FIRST dives in, so you don't have to!

The higher the risk, the higher the bookies payout - but are you willing to risk the odds being against you?