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Clarification

Posted By: Chuck Bower
Date: Tuesday, 5 April 2011, at 7:37 p.m.

In Response To: Algorithm for 'fair' bet (Chuck Bower)

Renormalize all (proportionally) so that the new sum is 1.

For those who might be confused with this statement, all it means is: to find the 'true probability' for a given individual outcome, dividing the initial probability (converted from individual odds shown) by the sum of all the initial probabilities. (That results in the sum of the 'true probabilities' being 1.)

Messages In This Thread

• golf bet - OT
  christian munk-christensen -- Tuesday, 5 April 2011, at 3:14 p.m.
  • golf bet - OT
    Henrik Bukkjaer -- Tuesday, 5 April 2011, at 4:06 p.m.
  • golf bet - OT
    Henrik Bukkjaer -- Tuesday, 5 April 2011, at 4:10 p.m.
  • golf bet - OT
    Bill Riles -- Tuesday, 5 April 2011, at 7:03 p.m.
    • tennis bet - OT
      Christian Munk-Christensen -- Wednesday, 6 April 2011, at 9:10 a.m.
  • Algorithm for 'fair' bet
    Chuck Bower -- Tuesday, 5 April 2011, at 7:32 p.m.
    • Clarification
      Chuck Bower -- Tuesday, 5 April 2011, at 7:37 p.m.
  • golf bet - OT
    Bill Finneran -- Wednesday, 6 April 2011, at 5:53 p.m.
  • get out your pencil
    lenny -- Thursday, 7 April 2011, at 2:36 a.m.
  • Your bet is looking good, right? *NM*
    Casper van der Tak -- Sunday, 10 April 2011, at 6:58 a.m.
    • How's that? *NM* *NM*
      Henrik Bukkjaer -- Sunday, 10 April 2011, at 7:35 p.m.
      • I just learned that you don't have to type *NM* yourself... *NM*
        Henrik Bukkjaer -- Sunday, 10 April 2011, at 7:36 p.m.
      • Spoken like a true cricket fan! *NM*
        Casper van der Tak -- Sunday, 10 April 2011, at 8:24 p.m.
    • Your bet is looking good, right?
      Henrik Bukkjaer -- Sunday, 10 April 2011, at 10:53 p.m.
      • Your bet is looking good, right?
        Christian Munk-Christensen -- Monday, 11 April 2011, at 8:33 a.m.
        • Your bet is looking good, right?
          Casper van der Tak -- Monday, 11 April 2011, at 8:50 a.m.
          • Your bet is looking good, right?
            Christian Munk-Christensen -- Thursday, 14 April 2011, at 6:17 a.m.
            • Your bet is looking good, right?
              Casper van der Tak -- Thursday, 14 April 2011, at 11:41 a.m.