The chance of an outcome that a set of odds corresponds to, found by dividing 100 by the decimal price.
Decimal odds of 2.00 imply a 50% chance, 4.00 imply 25%, and 1.50 imply about 66.7%. Because the bookmaker's margin is folded into the price, the implied probabilities across a market add up to more than 100%. See our guide to how betting odds work.