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Different sportsbooks may offer different odds for the same event. Take advantage of this by shopping around for the best odds. Over time, even slight variations in odds can significantly impact your overall profitability. Bookmaker Bets Are Hot, Behind every set of odds lies an implied probability - the estimated likelihood of the predicted outcome occurring. Understanding how to calculate implied probability is crucial for assessing the value of a bet. The formula for converting odds to implied probability varies based on the odds format, and we'll explore each method in detail.
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