Betting On Sports: Odds And Implied Probability

Betting on sports can be compared to gambling in the sense that it involves a financial transaction between two parties, whether it is a sports team or an individual athlete. Sports betting is the act of placing a bet on the outcome of a sporting event and predicting the final result. The frequency of individual sports bets varies greatly by culture, with most bets being placed on sporting events which are regularly played. Major League…

"Betting On Sports: Odds And Implied Probability"