This is a question I've thought of posting in discussion before, but I couldn't work out a coherent phrasing. Just how well can the untrained human mind resolve probabilities? Just how well can the trained human mind (e.g. say, a professional bookmaker) resolve probabilities? (Note I have no idea how individual bookmakers do things these days, for all I know they routinely use computers rather than estimating odds themselves. I know the chain ones do.)