{"title":"Probabilities, odds, and vigorish","authors":"Joseph G. Eisenhauer","doi":"10.1111/test.12318","DOIUrl":null,"url":null,"abstract":"This paper uses actual data on horse racing to illustrate probabilities, odds, and expected values, and offers cautionary remarks about applying textbook formulas to gambling on real‐world sporting events.","PeriodicalId":43739,"journal":{"name":"Teaching Statistics","volume":null,"pages":null},"PeriodicalIF":1.2000,"publicationDate":"2022-08-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Teaching Statistics","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1111/test.12318","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"EDUCATION & EDUCATIONAL RESEARCH","Score":null,"Total":0}
引用次数: 0
Abstract
This paper uses actual data on horse racing to illustrate probabilities, odds, and expected values, and offers cautionary remarks about applying textbook formulas to gambling on real‐world sporting events.
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