How Betting works ?
As of now Indian winning probability is 90%~ and New Zealand winning is 9% In the stock market as well probability plays important role. 1️⃣ Basic Formula Used in Betting Odds In decimal odds , the relationship is: Odds = 1 Probability \textbf{Odds} = \frac{1}{\text{Probability}} Odds = Probability 1 Example: If probability of winning = 90% (0.90) O d d s = 1 0.90 = 1.11 Odds = \frac{1}{0.90} = 1.11 O dd s = 0.90 1 = 1.11 But bookmakers add margin , so odds become slightly worse for bettors. 2️⃣ Convert the Odds in Your Screenshot to Probability India Odds = 1.07 P r o b a b i l i t y = 1 1.07 Probability = \frac{1}{1.07} P ro babi l i t y = 1.07 1 = 0.9345 = 0.9345 = 0.9345 ≈ 93.45% chance New Zealand Odds = 8.84 P r o b a b i l i t y = 1 8.84 Probability = \frac{1}{8.84} P ro babi l i t y = 8.84 1 = 0.1131 = 0.1131 = 0.1131 ≈ 11.31% chance 3️⃣ Why Probabilities Add More Than 100% Add both: 93.45% + 11.31% = 104.76% The extra 4.76% i...