Which sportsbook should you trust to tell you what a line is really worth? Building a consensus fair price starts with that question. The lesson treats a benchmark as a reference, not an oracle, and compares three ways to remove the margin: proportional, power or odds-ratio, and a weighted blend. A full example takes a reference quote of -120 and +110, strips the vig, and measures a member price of +100 against the result. You also learn what makes a benchmark weak, including thin limits, stale updates, mismatched settlement rules and feeds that all mirror one origin book. It ends with a workflow that records the exact market and snapshot time, so your fair price can be audited later.
Learning objectives
- Reproduce the lesson calculations.
- Identify the assumptions and conditions that can invalidate the modeled edge.
- Design an auditable research or practice workflow.
