A share price of 0.25 means a 25% implied chance and pays 4× if it wins (1.00 ÷ 0.25). A price of 0.80 means 80% implied and pays 1.25×.
Yes and No
The two sides always sum to about 1.00. Buying No at 0.20 is the same view as betting against a Yes priced at 0.80.
Why prices move
Prices reflect live trading and, for sports, the live score and game state. They are estimates derived from market activity and event data — not guarantees.