Odds

Odds encode probability plus margin: decimal 2.00 implies 50% (before margin), pays double on success. Formats are regional dialects — decimal (Europe), fractional (UK), American plus/minus (US) — describing identical prices.

The professional reading

Implied probability = 1/decimal odds; summing implied probabilities across a market’s outcomes reveals the overround (the book’s margin). Sharp content teaches readers to compute this in one line — and once readers see that a 105% book beats a 112% book everywhere, odds-comparison becomes a durable content franchise that bonus tables can’t replicate.