How odds become prices (and payouts)
In short
Price in cents equals chance in percent. Payout multiple equals 100 divided by the price in cents: 25¢ pays 4x, 10¢ pays 10x, 2¢ pays 50x.
Quick conversions
80¢ means 80% and pays 1.25x. 50¢ means 50% and pays 2x. 25¢ means 25% and pays 4x. 5¢ means 5% and pays 20x. 1¢ means 1% and pays 100x.
Versus sportsbook odds
Decimal odds of 2.50 equal a 40¢ price. American +150 is also 40¢. American -200 is about 67¢.
The spread
Buy and sell prices differ by a small spread, usually 1¢ to 3¢ on busy markets. Thin markets have wider spreads, which is why RIPS draws mostly from liquid ones.