Theory and odds in sports betting what is it and how to count
A statistical theory of optimal decision-making in sports betting PLOS One The practice of sports betting dates back to the times of Ancient Greece and Rome 1. With the much more recent legalization of online sports wagering in many regions of North America, the global betting market is projected to reach 140 billion USD by 2028 2. Perhaps owing to its ubiquity and market size, sports betting has historically received considerable interest from the scientific community 3. Probability distributions play a key role in the calculation of expected value (EV). EV is the average outcome of a random variable when
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