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Online betting odds represent the probability of a particular outcome in sports events or other activities, expressed in various formats such as fractional, decimal, or moneyline. These odds help bettors determine potential payouts and assess the risk associated with their wagers. They fluctuate based on factors like team performance, injuries, and public sentiment, reflecting real-time market conditions. Understanding these odds is crucial for making informed betting decisions, as they can significantly impact the overall profitability of a betting strategy.