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Before delving into the complexities of odds, it's crucial to grasp the basic terminology. Odds are numerical expressions representing the likelihood of a particular outcome occurring. In sports betting, odds come in various formats, including decimal, fractional, and moneyline. Each format conveys the same information differently, and understanding how to interpret them is the first step towards becoming a savvy bettor. The bookmaker is doing well, Let's consider practical examples using various odds formats to calculate implied probability. This will provide a clearer understanding of how to apply these calculations in real-life scenarios.
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