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The general formula for conversion of "a to b" odds to a probability is $p=\frac{b}{a+b}$ So 8/15 remain implies remain with probability 0.652 8/4 for leave implies leave with probability 0.333 The amount 1-0.652-0.333 = 0.0145 represents the bid-ask spread or loss that you suffer (and the other ...

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