Gambling odds

Odds - Wikipedia

Odds are a numerical expression, usually expressed as a pair of numbers, used in both gambling and statistics. In statistics, the odds for or odds of some event reflect the likelihood that the event will take place, while odds against reflect the likelihood that it will not. In gambling, the odds are the ratio of payoff to stake, and do not necessarily reflect exactly the probabilities. Odds are expressed in several ways (see below), and sometimes the term is used incorrectly to mean simply the probability of an event. Conventionally, gambling odds are expressed in the form "X to Y", where X and Y are numbers, and it is implied that the odds are odds against the event on which the gambler...

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