Can someome explain BETTING ODDS to me?

Question

What does 1-20 and 5-4 etc mean?

Answer 1

well 1-20 is not very good odds. That would be the favor. To win $1 dollar you would have to lay(bet) $20. 5-4 isnt that good either, to win 5, you would bet 4. Horse races have long shots like 25-1. Were a you would win $25 for every $1 you bet. So if you bet $10 you would win $250. Other sports are different though baskatball is based on $100. Like the Mavs are favored. You $150. To win a hundred you would bet $150, and so on.