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Decimal odds, the prevalent format in Australia, offer a straightforward representation of potential returns. A key aspect often overlooked is the concept of implied probability. It's the essential counterpart to odds, expressing the likelihood of an event occurring. Implied probability helps bettors assess the true value of a wager. Bet Nation Bet Nation Racing Archive horse racing systems australia Conduct exploratory data analysis to understand the characteristics of the data. Use descriptive statistics, visualizations, and correlation analyses to identify patterns and relationships between variables. EDA provides valuable insights that can inform the development of your predictive models.
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