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How to Convert Betting Odds to Implied Probability

Decimal odds of 2.50 imply a 40% chance: 1 / 2.50 = 0.40. Every odds format states the same probability in a different notation.

6 min read

Odds & math

Bookmaker Margin Explained: How the Overround Works

Every odds price hides an implied probability, and bookmakers make sure those probabilities add up to more than 100%. That excess above 100% is the margin,…

7 min read

Odds & math

How to Remove the Vig from Betting Odds

A bookmaker's posted odds bake in a margin, so the implied probabilities across a market sum above 100%. Every decimal odds price is a probability in disgu…

6 min read

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