Thanks Keith for the succinct explanation.
Dan, There is no conversion to $US needed. We offer odds formats in both Decimal ($1.93) and US format (-107). As Lander has explained, the two formats are simply different expressions of the same "price". The decimal format is standard in Australia (even all the race bookmakers on course have now moved to a decimal format, as opposed to the old fractions [5/1, 7/2 etc]).
The decimal system indicates the exact return for a one dollar investment. In the example above Pittsburg is paying $2.61 for a one dollar investment. Please note that the $2.61 includes your dollar stake. So a decimal price of $2.61 is actually +161 in the US odds format.
The Braves are quoted at $1.57, which means that for every $1 invested, you will get 57 cents (which equates almost exactly to wagering $175 to win $100). Again the $1.57 includes the $1 stake.
Please take a few minutes to look at the help section of our site.
There you will see a few more things about our site, including the ability to view odds in differing formats.