Here2Win2Day - perhaps it should be added that there are (at least) two ways of calculating unit/bet amounts. What you have been explained is the American way and since this forum is mainly American it's what you will usually find here, especially in the U.S. sports. If you see someone quoting lines American-style (-110, +120 etc.) the explanations you were given are correct.
However, there's also the European style, to be found, for example, in threads of the RX "Soccer" subforum. Bettors who use decimal odds (1.91, 2.20 etc.) always mean they risk the units they list, even if the odds are below -100/2.00. In fact when using decimals many sportsbooks don't even give you the opportunity to place bets "to win".
I liked to point this out just in case you happen to run across other threads and forums where decimal odds are used so that you don't get confused again when what you have been explained here does not seem to fit.
However, there's also the European style, to be found, for example, in threads of the RX "Soccer" subforum. Bettors who use decimal odds (1.91, 2.20 etc.) always mean they risk the units they list, even if the odds are below -100/2.00. In fact when using decimals many sportsbooks don't even give you the opportunity to place bets "to win".
I liked to point this out just in case you happen to run across other threads and forums where decimal odds are used so that you don't get confused again when what you have been explained here does not seem to fit.