What is an edge in betting?

Knowing something the price doesn't. The gap between your probability and the market's.

If the market says 40% and your honest estimate is 55%, you have a 15-point edge, bet YES and over many such bets you profit. No edge, no bet: staking at exactly the market's probability is a coin flip with extra steps.

Real edges come from unglamorous places: following one niche closely, doing arithmetic others skip, being awake when news lands. The percent on the screen is the crowd's homework; an edge is where your homework is better.