Odds are an offer, not a fact. Price discovery in betting is how that offer moves as news and money show up, and reading it well starts with turning the price into a number you can compare. You work through -130 and +110, get implied probabilities of 56.52 and 47.62 percent, and see the extra 4.14 points that make up the sportsbook's margin. Then you scale it away to get a rough no-vig view, and learn why that view is an approximation rather than a secret true line. The last skill is restraint: reading a line move without inventing a story to explain it. That keeps you from chasing a cause you cannot see.
Learning objectives
By the end you will know what a betting price does and does not say about an event. You will be able to turn odds into implied probability, strip out the sportsbook's margin, and read a line move without making up a cause for it.
