Odds
The price of a bet — expressing both implied probability and payout, quoted in decimal, fractional or American formats.
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.
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