The bookmaker's analytics department calculates the odds for each event, embedding a profit margin. Higher probability outcomes have lower odds, and vice versa. The margin typically ranges from 1% to 6% for pre-match and is higher in live betting. The margin also varies by sport and the event's popularity. https://mega.nz/file/fiAkzawB#ukT_FINdhCwV79ZmRq6jYLUTI8tPMgV37EEFxF77MNY