Let's look at a real-life scenario to see how it plays out in practice. Take the example of the recent high-profile boxing match in 2024 between Daniel Dubois and Anthony Joshua. The betting odds for this at the time looked like this:
- Anthony Joshua: -450 (favorite)
- Daniel Dubois: +333 (underdog)
As Dubois won this match, the payout unfolded as follows.
- Bet Amount: $100
- Odds: +333
- Profit: $333
- Total Payout: $100 (initial bet) + $333 (profit) = $430
If Joshua (favorite) had won the match, someone who bet $450 on Joshua, would have won $100 in profit, totaling 550.
Though this type of basic bet is the most common one in boxing, sportsbooks also offer other types of betting.
