ExSpadeLearn / First Steps
Follow the Money. Then the Probability.
Four short lessons connect a quoted price to payouts, repeated wagers and possible outcomes.
Step 01
Read a Price
Convert American odds into a payout and an implied probability.
Read, Then Try an Example →Step 02Trace a Payout
Separate the returned stake, profit and transaction costs.
Read, Then Try an Example →Step 03Price Repeated Bets
Distinguish initial money from the total amount repeatedly wagered.
Read, Then Try an Example →Step 04Compare Possible Outcomes
Use a distribution to understand what an average leaves out.
Read, Then Try an Example →A Word Getting in the Way?
Twelve Terms. Concrete Examples.
Find a meaning, see the arithmetic, then follow it into a tool.
Open the Glossary ↗