What does Odds On mean in betting?

Odds On are prices that show an outcome is considered more likely. In this case, the possible profit is usually smaller than the original amount placed.

How does it work?

In fractional format, this usually looks like 1/2, 4/5, or similar numbers where the profit is smaller than the amount risked. In simple terms, odds on are used for favourites. The player gets a lower return because the market sees that result as more likely.