What the bet pays if it wins — and what the price says about how often it should.
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Total return
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Profit
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Implied chance
Implied chance is just 1 divided by the decimal odds: a price
of 2.20 implies the outcome wins about 45% of the time. Bookmaker prices add
up to more than 100% across a market — that extra is their fee, not your
probability. More in the bookmaker's margin.