Glossary
Implied Probability
Implied probability is what a betting price says about how likely an outcome is. Every American odds number — -150, +130, whatever — converts directly to a percentage, and that conversion is the starting point for essentially every other calculation in betting.
In practice
-150 → 150 ÷ (150 + 100) = 60.0%. +130 → 100 ÷ (130 + 100) = 43.5%. Add both sides of a real book's line together and you'll get slightly over 100% — that gap is the vig.
Why it matters here
Converting odds to probability is step one for everything on this site — fair lines, EV, CLV, all of it starts by turning a price into a percentage first.