In probability theory, odds provide a measure of the likelihood of a particular outcome. They are calculated as the ratio of the number of events that produce that outcome to the number that do not.

Sportsbooks typically have a head oddsmaker overseeing the odds and lines for games. This oddsmaker relies on sources such as computer algorithms, power rankings and outside consultants to set prices.

Although illegal, online gambling through sites other than legal operator Singapore Pools continues to be a pastime for many. Not only do these sites offer convenience, but they also boast a repertoire of games, which may not be available at legal gambling operators.

At present, gambling remains illegal in Singapore in all its forms. You can only legally gamble online in Singapore at the Singapore Pools, where you can bet on sports (like horse racing) and play lotteries.