Hey sorry maybe I wasn't super clear in the post. I understand odds just fine - What I'm really poking at is which has the potential to be more profitable long-term - laying max odds vs no odds at all.

The interesting thing about it is the constant EV. For example if I'm on a $10 DP of 4, I can lay no odds and expect an average of $3.32 profit for every time I make this bet. Now, lets say I get the same $10 DP on 4, but I decide to lay 3x Odds every time instead. Meaning I'm winning $25 or losing $40. The EV of this bet still comes to about $3.30 over time, even though I am betting a larger amount. So I'm essentially risking more to win the same amount, in the long run.