👉 Bet math, or betting theory, is a mathematical framework used to analyze and predict the outcomes of bets, particularly in sports and gambling. It involves calculating probabilities and expected values to determine the fairness of a bet and the potential profit or loss for the bettor. Key concepts include odds, which represent the ratio of the probability of an event occurring to 1, and implied probability, derived from the odds. By understanding these mathematical principles, bettors can make more informed decisions, assess the risk of a bet, and potentially identify opportunities to make profitable wagers. Bet math also considers factors like variance, overdue bets, and the house edge to refine predictions and manage risk effectively.
