Probability Fundamentals for Bettors
Beginner
10 min read
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Nov 28, 2025
Probability in Sports Betting
Understanding probability is crucial for evaluating bets and building models.
Basic Probability Rules
- Probability ranges from 0 to 1
- P(A or B) = P(A) + P(B) - P(A and B)
- P(A and B) = P(A) × P(B) for independent events
Conditional Probability
P(A|B) = probability of A given B has occurred. Critical for in-game betting.
Bayes Theorem
Update probabilities as new information arrives. Essential for live betting.
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