Let’s assume that FCB is so dominant that it only loses 5% of its home games, regardless of the opponent, and gets at least a draw 95% of the time. Then the probability of Munich losing a game in the league at some point during the entire season is exactly 58.19% (calculation: 1 – 0.95^17).… Continue reading The difference between luck and chance?
Category: Betting
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Betting on the Apocalypse: Doomsday Pools & Other Bizarre Wagers
Although it may sound like something from a dystopian science fiction book, placing bets on the end of the world is really rather common. There is a rising subculture of folks who are placing their money where their nightmares are, whether it be on the end of the world, alien contact, or the emergence of… Continue reading Betting on the Apocalypse: Doomsday Pools & Other Bizarre Wagers