Convert American Odds (e.g., -110) into breakeven implied probabilities.
Formula for negative odds (-110): Odds / (Odds - 100). (-110 / -210 = 52.38%)
Odds / (Odds - 100)
Formula for positive odds (+150): 100 / (Odds + 100). (100 / 250 = 40.0%)
100 / (Odds + 100)