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If you bet 1 on a game with 6 to five odds and you win, your total payout will be two.20 which is your bet plus 1.20 profit. If you bet 1 on a game with 4 to 5 odds and you win, your total payout will be 1.80 which is your bet plus .80 profit. The probability represented by betting odds is typically referred to as the ‘implied probability’.

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