Definition och Betydelse av "long odds"

What are "long odds"?

Long odds refer to a betting situation where the likelihood of a particular outcome happening is low, meaning the potential payout is high. When a bet has long odds, it means the event is considered unlikely to occur, but if it does, the bettor will win a significant amount of money. For example, in sports betting, a team that is heavily favored to lose will have long odds, offering a larger payout if they unexpectedly win. While long odds can be tempting because of the large potential rewards, they also carry a higher level of risk.