Thanks Buzz and Ray but I'm still confused so let me give an example. I can do the probability comparison of pot odds to chance of making a hand but this is just a touch different. I mean, it's the same thing basically but I don't know why and somehow I couldn't infer it from your answers. So please be patient. But this is really driving me crazy.

Let me give just a very easy example and I really hope someone could PLEASE help me figure it out. Don't skip any steps cause I get lost so easy. Here's the example: You bet the Spurs to beat the Lakers at the standard -110. You bet $110 to win 100. What percentage of the time must you win the bet to break even including the vig? (I know the answer but I don't know how they got that, which is the important part).

Shattered