Betting Probability Theory
So, we have considered the basic concepts, and now it remains to figure out how TV is connected with sports betting.
And it is directly related, since any game in sports is an event with certain outcomes, the probability of which can be calculated.
Let's return, again, to our example with a coin: there were only two possible outcomes with a probability of 50%. In sports betting, everything is much more complicated, because in most matches the opponents are not equal in strength, plus you need to determine not only the victory of one of the parties, but also other outcomes, such as handicaps, totals, and so on. This is exactly what bookmaker analysts do, determining the probability of each of the outcomes and converting this value into odds in scope of 22 bet app.
The bookmaker coefficient shows the probability of passing the event. It can have different forms (decimal, fractional, American and others), but in the countries of the former Soviet Union, it is the decimal ones that are most popular. If you divide the unit by the coefficient, you can find out its percentage. This is a simple formula for defining the theory of probability in betting, as stated in 22 bet apk .
This is how the odds are formed in bookmakers, and the probability of a particular outcome is determined by analysts using special programs that take into account hundreds of different factors. But, speaking of the odds, it is important to consider one more point: the bookmaker's margin.
Read more in Wikipedia: Probability Theory