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When you win a bet your stake is multiplied by the odds the bookmaker were offering on that outcome.

Key terms used to express the odds:

Odds on - The probability of this event occurring is judged to be more than 50%, so the amount you win is less than the amount you stake.
Evens/Even money - The probability is judged to be 50%, so the amount you win is the same as the amount you stake.
Odds against - The probability is judged to be less than 50% so the amount you win is more than the amount you stake.