Glossary

20. A

Overround = yes_price + no_price - 1.0. Market A: 0.55 + 0.50 - 1.0 = 0.05 (5%). Market B: 0.62 + 0.42 - 1.0 = 0.04 (4%). Market A has higher vig, meaning the market maker takes a larger cut.

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