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Explained in an easy to understand style with suitable examples where practical. What is an accumulator bet?
What is a lucky 15 bet? The article explains the composition of the lucky 15 and how bonuses are applied. Visit signupbonuses. In the event of a double dead heat you should enter 2, and in the unlikely event of a triple dead heat you should enter 3.
Places - the number of places being offered by your bookmaker for the event in which your selection is taking part. Position - the finishing position for the dead heat.
If the dead heat is for first then you should enter 1, if the dead heat is for second then you should enter 2, etc. Total - the number of joint favourites, more accurately termed co-favourites if there are more than two.
Winners - the number of favourites that won the race. This will normally be 1, since a value of 0 would indicate that your selection did not win.
A lucky 15 bet is when you have four selections which consist of 15 separate bets. The break down of bets is as follows:. Just one winning selection guarantees a return but the more winners the more your bet returns.
This is determined by carrying out a series of trials. So, for instance, a batch of products is tested and the number of faulty items is noted plus the number of acceptable items.
Example: A sample of products is tested and 4 faulty items are found. What is the probability of a product being faulty? This is a theoretical probability which can be worked out mathematically.
In this example, there is only 1 way a 6 can occur and there are 6 possible outcomes, i. Example 2: What is the probability of drawing a 4 from a pack of cards in one trial?
Public domain image via Pixabay. Once a probability has been worked out, it's possible to get an estimate of how many events will likely happen in future trials.
This is known as the expectation and is denoted by E. If the event is A and the probability of A occurring is P A , then for N trials, the expectation is:.
So in 60 trials, the expectation or number of expected 6's is:. Remember, the expectation is not what will actually happen, but what is likely to happen.
In 2 throws of a dice, the expectation of getting a 6 not two sixes is:. However, as we all know, it's quite possible to get 2 sixes in a row, even though the probability is only 1 in 36 see how this is worked out later.
As N becomes larger, the actual number of events which happen will get closer to the expectation. So for example when flipping a coin, if the coin isn't biased, the number of heads will be closely equal to the number of tails.
Events are independent when the occurrence of one event doesn't affect the probability of the other event. Two events are dependent if the occurrence of the first event affects the probability of occurrence of the second event.
For two events A and B where B depends on A, the probability of Event B occurring after A is denoted by P B A.
Mutually exclusive events are events that cannot occur together. For instance in the throwing of a dice, a 5 and a 6 can't occur together.
Another example is picking coloured sweets out of a jar. Mutually non-exclusive event s are events that can occur together.
On the most basic level, odds calculators are designed to help you understand the implications of your bets and ultimately determine what returns you will receive if you are successful.
Such tools tend to operate in a standard format, with them first asking you to input the type of bet that you have made or are planning to make.
This could be anything from a single to a Yankee to Super Heinz or an accumulator. The calculator may also ask you to either enter the odds in the decimal or fraction format, but we will touch upon the key issues related to that further on in this article.
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