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Yes. The sum of the probabilities of all possible outcomes is equal to one.

Given events that are equally likely to happen, the probability that any given outcome occurs will be equal to the number of specified outcomes, divided by the number of all outcomes.

If events are not equally likely to happen - let's say that Bent-Nose Bill is holding a lottery - then the probability is considerably different. As Damon Runyan put it, "The race is not always to the swift, nor the battle to the strong, but that's the way to bet"

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