Calculating probabilities in poker gives you an edge by anticipating outcomes.
Probability formulas consider the number of events from the number of possible outcomes. For example, there are 13 of each suit in a deck of 52 cards. Therefore, the likelihood of drawing a "heart" is 13 out of 52. Microsoft Excel simplifies these calculations through the use of formulas, which can reference data in other cells. When constructing multiple probability formulas, using default cell references, such as "A1," can get confusing. Therefore, you might consider naming the cell with letters, which allows you to reference the cell using descriptive terms, such as "E" or "Events."
Enter the number of events in cell A1. As an example, you might enter "13" if you were calculating the probability of drawing a specific suit from a deck of cards.
Enter the number of possible outcomes in cell A2. In the example, you might enter "52" which represents the number of cards in the deck, because you have an equal chance of drawing any one of them.
Right-click cell A1 and select "Define Name" from the pop-up menu.
Enter a descriptive name in the "Name" field of the New Name window and click "OK." This name can be a single letter, word or phrase. You cannot use spaces, but you can separate words with an underscore. In the example, you might name the cell "Events."
Repeat the naming procedure for cell A2. In the example, you might name the cell "Outcomes."
Enter "=Events/Outcomes" without quotes in cell A3 to calculate the probability. Change the names in the formula to reflect the names you selected, if different than the example. If you chose "E" and "O" as the names of cells A1 and A2, you would enter "=E/O" without quotes.
Taylor, C.. "How to Figure Probability Using Letters in Excel." Small Business - Chron.com, http://smallbusiness.chron.com/figure-probability-using-letters-excel-32459.html. Accessed 18 April 2019.