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Probability Theory Basics
Rating: 4.3 out of 5(14 ratings)
567 students

Probability Theory Basics

Learn Basic Probability Theory
Created bySlava Razbash
Last updated 4/2024
English

What you'll learn

  • Probability Theory
  • Expected Value
  • Applying expected value to gambling scenarios
  • Calculation of implied probability in sports odds

Explore related topics

Course content

3 sections • 11 lectures • 32m total length

  • Introduction to Probability 05:26

    Explore the basics of probability, treating it as a number 0–1, and use fair coins and a 52-card deck to calculate favorable outcomes over total.

  • A Probability of 1 is certainty0:21
  • Introduction to Probability 16:25

    Explore basic probability with a fair six-sided die and a loaded die, compute outcomes, probabilities, and the expected value, illustrating the law of large numbers.

  • Probabilities add up to 10:39

    Explore how probabilities add up to one and guarantee outcomes, using a die as an example where any face could land, and apply the same idea to a loaded die.

  • Introduction to Probability 2 - Multiple events4:52

    Explore probability with two dice, calculating sum probabilities using independent events, multiplication for and, addition for or, and learning via a tree diagram with sums like 2, 4, and 12.

Requirements

  • No prerequisites. Just start learning. For free.

Description

Learn probability theory from an experienced industry professional. Learn how casinos and sports bookmakers work. Learn why the house always wins.

This free course will teach you basic probability theory, with a focus on expected value. You will learn exactly why casinos and sports books consistently take money from their customers.

What makes this course different

You might have tried to learn probability theory before. Maybe the material was too abstract. Maybe the instructor had no clue. This course is different because it's taught by an experienced industry professional.

Now that you have found this unique course, you stand at a cross-roads. Either learn probability theory, or fall into the pit.

About the instructor

My name is Slava Razbash and my whole career is based on Probability Theory. I have been working in roles that require a knowledge of probability theory since 2009. They include working as a Data Scientist at two of Australia's largest gambling operators - Sportsbet and Tabcorp.

I have also been teaching an mentoring since 2009. I'm very good at explaining things.

How this course works

My video lectures explain probability theory from the ground up. There is a specific focus on calculating expected value. Then we apply expected value calculations to gambling scenarios.

This is a free course. Just sign up and start learning.

This course presents a rare opportunity to learn from an experienced professional. For free.

Not everyone will sign up. You do have the option of not signing up, and not learning probability theory.

You could also learn from a less experienced instructor. That's what I call "the hard way".

Or you could enrol in this course, for free, and learn from the best. The choice is yours!

Who this course is for:

  • Anyone who wants to pursue a career in analytics
  • Anyone who doesn't know why he keeps losing money at the casino or bookmaker
  • Anyone who wants to learn probability theory
  • High school students whose maths teacher cannot explain probability theory properly

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