Initially, probability theory was inspired by games of chance, especially in 17th century France, and was inaugurated by the Fermat-Pascal correspondence.
Its complete axiomatization was given by Kolmogorov in Foundations of the Theory of Probability in 1933.
The words 'Probability' and 'Chance' are quite familiar to everyone. Many a times, we come across statements like "Probably it may rain today"; "Chances of his visit to the university are very few"; "It is possible that he may pass the examination with good marks". In the above statements, the words probably, chance, possible etc., convey the sense of uncertainty about the occurrence of some event.