# Example usage probability = 0.7 payoff = 100 risk_free_rate = 10
def evaluate_bet(probability, payoff, risk_free_rate): """ Evaluate a bet by calculating its expected value. thinking in bets pdf github
Probabilistic thinking is essential in decision-making under uncertainty. It involves understanding and working with probabilities to evaluate risks and opportunities. Probabilistic thinking can be applied to various domains, including finance, engineering, and medicine. # Example usage probability = 0