Probability theory in betting
The result of any sporting event is an accident. The outcome is never known in advance. The occurrence of a particular outcome is estimated by probability, which is expressed as a percentage, and then coefficients. A clear example is tossing a coin. The chances of losing "heads" and" tails " are the same-50%. But if everything is obvious with the coin, then it is much more difficult to correctly assess the probability of the outcome of a sports competition, because it is influenced by an incalculable number of factors.
If you roll a coin a dozen times, each time you can get a "tails". This is unlikely, but possible. You can check on your own, suddenly become a witness of this. But if you flip a coin a hundred times, it will probably be "heads" and not just "tails". This leads to the main concept in rates – variance.
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Variance indicates deviations of the result from the mathematical expectation. If the distance is short, the deviation will be significant. In our example, one side can fall out of 10 times, or 7 "heads" and 3 "tails" and any other combination. But when a coin is tossed 1000 times, the combination changes and approaches the expected 50-50 figures.