“a successful $775 bet would return $100 in profit. It implied an 89 percent chance that Trump would win.“
Doesn’t imply anything of the sort. Get your shit straight Slate, this is junior high school level of statistics.
Doesn’t imply anything of the sort. Get your shit straight Slate, this is junior high school level of statistics.
Basically you need to take into consideration the bookkeepers profits. See GAMBLING odds vs probabilities here:
https://en.m.wikipedia.org/wiki/Odds#Gambling_odds_versus_pr...
If you want to deep dive you can look into shin probabilities for one model of how to do the calculations.