The wide wide world of sports betting
TLF ID A003660
This lesson explores the difference between perfectly predictable events (like the roll of a die) and less certain events (such as sports). Students investigate mathematically how sports bookmakers create odds to guarantee themselves a profit and pay gamblers less for a win than they deserve. The lesson is outlined in detail including NSW curriculum links, learning intentions, discussion points, materials required, example calculations, student and teacher reflection opportunities. This lesson is part of the GambleAware program from the Office of Responsible Gambling, Department of Enterprise, Investment and Trade, NSW Government.