Glossary
Implied probability
Implied probability converts a price into the chance it represents — for decimal odds, it is one divided by the price.
Decimal odds of 2.00 imply a 50% chance (1 ÷ 2.00). Summed across all outcomes, implied probabilities exceed 100% by the bookmaker's margin. Comparing implied probabilities across books, or against the exchange, is how value and arbitrage are spotted.
A normalised feed makes this comparison reliable, because the same selection carries the same label everywhere.
OddsRelay delivers this as part of one already-matched feed. See live coverage on the coverage dashboard.