Betting agencies offer odds for the outcomes of sports and racing events from around the world. When you place a bet with Australian betting agencies you select an outcome to bet on and set an amount that you would like to bet (your bet stake). If your bet loses then you will lose your bet stake. For example, if you bet $10 on the Melbourne Storm to beat the Brisbane Broncos and the odds for the Melbourne Storm to win are 2. 00 then if you win you will receive $20 and if you lose you will lose $10. Betting agencies make money by including a margin in their odds which means that over time they always win. For example, if the odds for the Brisbane Broncos to win are 1. 80 then even if you bet $10 on both teams to win, you would lose money no matter how much money you bet - You win $10 if the Storm wins but lose $10 on your Broncos bet or you win $8 if the Broncos win but then lose $10 on your Storm bet.
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