Beginner7 min read

How Odds Work in Prediction Markets

Master the math behind prediction markets and learn how to calculate probabilities and potential profits.

The Basics: Price = Probability

In prediction markets, the price of a share directly represents the market's belief about the probability of an event occurring. This is the fundamental concept you need to understand.

Key Formula

Price (in cents) = Probability (%)

A share priced at 65¢ means the market thinks there's a 65% chance the event will happen.

25¢
25% chance
Unlikely
50¢
50% chance
Coin flip
85¢
85% chance
Very likely

Calculating Your Potential Profit

Understanding how much you can win or lose is crucial for making informed trading decisions.

Profit Calculation

If you're RIGHT:

Profit = $1.00 - Purchase Price

Each winning share pays out exactly $1.00

If you're WRONG:

Loss = Purchase Price

Losing shares become worthless ($0.00)

Example Calculations

Scenario A: You Win
  • • You buy 10 shares at 30¢ each
  • • Total cost: $3.00
  • • Event happens (you're right!)
  • • Payout: 10 × $1.00 = $10.00
  • • Profit: $10.00 - $3.00 = $7.00
Scenario B: You Lose
  • • You buy 10 shares at 30¢ each
  • • Total cost: $3.00
  • • Event doesn't happen (you're wrong)
  • • Payout: 10 × $0.00 = $0.00
  • • Loss: $3.00

Reading Market Signals

Price movements tell you a story about what the market is thinking. Here's how to interpret them.

Rising Prices (Bullish)

When prices go from 40¢ → 60¢, it means:

  • • More people think the event will happen
  • • New information supports the "Yes" outcome
  • • Market confidence is increasing
Falling Prices (Bearish)

When prices go from 70¢ → 45¢, it means:

  • • Fewer people think the event will happen
  • • New information supports the "No" outcome
  • • Market confidence is decreasing

Advanced Concepts

Implied Probability vs. Your Belief

The key to profitable trading is finding markets where your assessment differs from the market's implied probability.

Example: Market price is 30¢ (30% chance), but you think there's a 50% chance. This could be a good buying opportunity.

Risk vs. Reward

Low Price = High Reward, High Risk

Buying at 10¢ means big profits if you're right, but low probability of winning.

High Price = Low Reward, Low Risk

Buying at 90¢ means small profits but high probability of winning.

Practice Makes Perfect

The best way to understand odds is to start trading with small amounts and see how the math works in practice.

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