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Payoff is calculated differently for the betting odds in the favorite’s and underdog’s markets, but always centered around the value of $100. For instance, (-200) NBA Finals odds mean that for every $200 wagered on a team, the house will pay out $100 if that team wins. (-500) odds stand for $100 payoff on every $500 wagered at the betting book. A new report looks at the rising toll of income inequality on Social Security. By clicking "TRY IT", I agree to receive newsletters and promotions from Money and its partners. I ag...

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