The Mathematics of Sports Betting: Odds and Probabilities

Comprehensive coverage of The Mathematics of Sports Betting: Odds and Probabilities, offering readers valuable insights.

Calculating probability is quite easy. In short, you take the number of unfavorable outcomes and divide it by the number of favorable outcomes. Let’s say you have two dice and you want to bet that you can roll a six. There are three ways to achieve this. You could roll a 5-1, 4-2, or 3-3. On the flip side, there are 33 combinations that would yield an unfavorable result. So, there are 33 ways to lose and 3 ways to win. Thus, the true odds of rolling a six are 33:3 which boils down to 11:1.