Back to the Pittsburgh Pirates Newsfeed

The Basics of Sports Betting and Implied Probability Calculations

Are you interested in the art and science of profitable or successful wagering? Or, would you prefer to guess which team will win a match and wager on your guesswork rather than using principles like implied probability calculations to determine the outcome of an sports event.

The maths behind betting odds

The mathematics behind the probability theory demonstrates that the probability of an outcome is a concrete measurement of the randomness of an event occurring or not. The simplest example of the probability of an outcome is the coin toss. A coin only has two sides, heads and tails.