Definition

The total implied probability of all outcomes combined, which exceeds 100% due to the bookmaker’s margin. Overround quantifies how much the odds are in the book’s favor.

Formula

Example

In a two-outcome fight: Canelo 65% implied + Crawford 38.5% implied = 103.5% total. The **overround** is 3.5%, meaning the book has a 3.5% edge built into the odds.