Model probability
Each market starts with an estimated chance of the outcome — for example 55% for a favorite or 42% for an over.
Fair odds
A fair American price is just the model probability expressed as odds without sportsbook juice. Comparing that number to the available book price is how members decide whether a wager has positive expected value.
The conversion
Each market starts with an estimated chance of the outcome — for example 55% for a favorite or 42% for an over.
Above 50%: negative odds = −(p / (1 − p)) × 100. Below 50%: positive odds = ((1 − p) / p) × 100. That is the no-vig fair price.
Sportsbook odds reverse the same math, then add juice so both sides sum above 100%. The gap is the house edge.
If the book pays more than the fair price (or implies a lower probability than the model), the wager has positive EV at that number.
On the product
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