F-10 Curriculum (V8)
F-10 Curriculum (V9)
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This lesson simulates the operation of a bookmaker to illustrate to students how easy it is to get swept up in the excitement of a race, and to show how the bookmakers are always coming out having made a profit. The lesson is outlined in detail including NSW curriculum links, learning intentions, discussion points, materials ...
In this lesson, students will explore how bookmakers set odds, and how these odds are carefully determined in order to guarantee the bookmaker the best chance of making a profit. Students learn how to convert between odds and probabilities and calculate the expected profit or loss based on odds. The lesson is outlined in ...
In this lesson students will take ownership of a gambling organisation. They will look at long term statistics of various sporting matches to set the initial odds and then monitor live betting to adjust the odds they are offering gamblers, in order to demonstrate how sports betting organisations guarantee they always make ...
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 ...