implied % chance.........need explanation, please

[elma]

hi

could somebody explain me how one should use the implied % chance graph? one can find it on the price/volume over time graph, and checking the inverse axis box.
any help is very much appreciated. tia

[negapo]

It's the implied probability of an odd.
For an odd of 2.05 you have an implied probability of 1/2.05 = 49%
If you like to think about the probability and not in american/european odds you can use that graph.

[elma]

negapo,

thanks for explaining.