In sports betting, understanding the difference between luck and skill is critical. One key concept that explains short-term swings in betting results is variance. Variance is a statistical measure of how outcomes fluctuate around the expected value (EV). Grasping how variance works can help bettors manage expectations, avoid emotional betting, and develop long-term strategies. What Is …
If you’ve ever looked at decimal odds like 1.80 or 2.50 and wondered, “What does this actually mean in terms of chances?”, implied probability is the answer. Implied probability translates betting odds into a percentage chance. It helps human bettors (and AI models) compare what the sportsbook is implying versus what they personally believe the true …
Understanding how to convert American odds into implied probability is essential for bettors who want to make informed, data-driven decisions. American odds show potential payouts, but they do not directly reveal how likely an outcome is according to the sportsbook. Implied probability bridges that gap by translating odds into a percentage chance of winning. What Is …