Actual Rocket Science - 12 Integrals, Ep. 12 @RandomMathsInc

Uploaded January 2018 | Updated September 2026, 2 hours ago

This is not a clickbait, as we will actually be deriving Tsiolkovsky's Rocket Equation in the finale of 12 Integrals.

For the whole series: youtube.com/playlist?list=PLBzCYlA4J3e6zirZf7gu9vQgkJ_H1S0Fc

Actual Rocket Science - 12 Integrals, Ep. 12

$How Bookmakers Make Money We look at how bookmakers set their odds so that they would make money off the bettors. A bit more on decimal and fractional odds: https://support.skybet.com/app/answers/detail/a_id/37/~/fraction-and-decimal-pricing If youre too lazy to watch the whole thing, you can go to; - 0:00 for dice analogy (introduction), - 1:53 for dice analogy (trying to make money), - 3:08 for dice analogy (adjusting odds), - 7:12 for start on part about bookmakers, - 9:20 for implied probability and over-rounding, and - 13:25 for why bookmakers have to adjust odds. Sources I used: https://en.wikipedia.org/wiki/Mathematics_of_bookmaking http://www.pinnacle.com/en/betting-articles/educational/how-bookmakers-make-money http://www.oddsportal.com (where I took sports odds from) http://www.mirror.co.uk/sport/row-zed/how-odds-leicester-winning-premier-7736523 https://en.wikipedia.org/wiki/2015%E2%80%9316_Leicester_City_F.C._season$

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Actual Rocket Science - 12 Integrals, Ep. 12