What odds really represent
A clear explanation of what betting odds represent, how they convert to implied probability, and where margin sits in the price of real markets.
Guides
Concise explainers on how betting markets function, why prices move, and what market incentives mean for readers.
Why limits exist
An overview of why betting limits exist, how they reflect risk controls, and what limits signal about market confidence and liquidity.
The difference between price and probability
Learn the difference between price and probability in betting markets, and why prices can move without new information or fundamentals.
The house edge: where it hides
An explanation of how the house edge is embedded in odds through overround and margin, and how it compounds across full markets.
What “sharp” actually means
A neutral explanation of what “sharp” means in betting markets, including information edge, timing, and the role of risk limits.