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Another kind of bet is the number of 180s in a match, which is a straight-forward bet on how many maximums you think will be thrown. Sometimes there is an over/under market for this bet, which would read something like: +4.5 180s in the match.
The term bet can be used in a few different ways, but generally means "agreed" or "okay". For example, if someone says "Wanna grab lunch later?" and the other person responds "Bet", it means they agree to the plan. Bet" can also be used as a response to confirm that a statement is true.
Betting odds are the ratio between the amount staked by the bookies and the bettor, so 7/1 means the bookies stake seven times the amount the bettor has wagered. If the bettor wins; their predicted outcome materialises; they will take seven times their bet from the bookie (in this case).
Mathematicians measure probability by counting and using some very basic math, like addition and division. For example, you can add up the number of spades in a complete deck (13) and divide this by the total number of cards in the deck (52) to get the probability of randomly drawing a spade: 13 in 52, or 25 percent.