In this chapter contextual probabilistic entanglement is represented withinthe Hilbert space formalism. The notion of entanglement is clarified anddemystified through decoupling it from the tensor product structure andtreating it as a constraint posed by probabilistic dependence of quantum observablesA and B. In this framework, it is meaningless to speak aboutentanglement without pointing to the fixed observables A and B, so thisis AB-entanglement. Dependence of quantum observables is formalized asnon-coincidence of conditional probabilities. Starting with this probabilisticdefinition, we achieve the Hilbert space characterization of the AB-entangledstates as amplitude non-factorisable states. In the tensor productcase, AB-entanglement implies standard entanglement, but not vice versa.AB-entanglement for dichotomous observables is equivalent to their correlation. Finally, observables entanglement is compared with dependence of random variables in classical probability theory.