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PredictIt payouts vs fractional odds

Can anybody explain how to covert expected PredictIt earnings to fractional odds like in horseracing. For example would a share of Kamala prchased at $.30 and paid out at $1.0 be 2.3/1? 

Thanks much!

Yes.It seems like you got it. 

I don't understand it either. I am still scratching my head. 

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