IPA: /ɪmˈprɒb.ə.bɪl.ɪ.ti/
KK: /ɪmˈprɑːbəˌlɪti/
The state or quality of being unlikely to happen or occur.
The improbability of winning the lottery makes it a rare event.
Improbability is formed from "im-" (meaning not) and "probabilis" (from Latin, meaning provable or likely) and the suffix "-ity" (meaning the state or quality of). The word refers to the state of being not likely or not probable.
Think of 'not' ('im-') and 'likely' ('probabilis') to remember that 'improbability' means the quality of being unlikely.