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Tag archive: betting odds

From Probability to Betting Odds

It is very easy to convert probability to betting odds if you use the decimal format. In order to do this you must have a very good understanding of the basic principles of probability and frequency distribution. Once you grasp these concepts, you will be able to determine the odds of a game.

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Types of Betting Probability: Unconditional, Conditional and Joint

Betting probability can be classified according to various factors. In this article we explain conditional, unconditional and joint probabilities. These odds are calculated according to certain events which condition the outcome of a bet. These events can either happen in the same time or in a row.

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Betting Probability Explained

A betting probability represents the likelihood of winning a bet. There are three main types of probabilities that you can use in order to calculate your winning chances: empirical, subjective and priori. The best thing to do is develop a priori algorithm based on as many factors as possible.

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