Odds & margin
Implied probability
The chance a price suggests. For decimal odds, divide one by the odds.
Also called Implied chance
Example 2.00 = 50%, 4.00 = 25%, 1.25 = 80%.
- Good to know
- Add up the implied chances of every outcome in a market and you find the bookmaker’s margin.
Related
Odds & margin
Vig
The bookmaker’s built-in edge. Add up the implied chances of every outcome: anything above one hundred percent is their margin. Lower is better for you.
Odds & margin
Value bet
A price higher than the real chance deserves. Value doesn’t mean the bet will win; it means the price is generous if you could make the bet many times.
Odds & margin
Odds
The price of a bet: what you get back if it wins. The same price can be written as decimal, fractional or American odds.
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