BUSINESS AND FINANCE
Bets: The Game Behind the Game
Odds, probability, house edge, and risk management to understand where the money really goes
Original title: Bets: O jogo por trás do jogo
By JVA Editora
This book is written in Portuguese. The description on this page has been translated.
The book presents the mathematics of odds, explaining how price, probability, and the house edge interrelate. It discusses concepts such as expected value, variance, ruin risk, and biases that affect decisions under uncertainty. It highlights the difference between betting and investing, emphasizing the importance of understanding the contract and the counterparty. It proposes an economic reading method that prioritizes price, probability, edge, and risk in every analysis.
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