Blanch Follett asked, updated on April 27th, 2021; Topic:
betting odds

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**Odds** provide a measure of the likelihood of a particular outcome. They are calculated as the ratio of the number of events that produce the outcome to the number that don't. **Odds** are commonly used in **gambling** and statistics. **Odds** can be demonstrated by examining rolling a six-sided die. The **odds** of rolling a 6 is 1:5.

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In the same way, what does it mean 4 5 odds?

This **means** that out of 9 possible outcomes, **odds** are that there will be 4 of one kind of outcome and 5 of another kind of outcome. For every 9, **odds** are that 4 will be a particular event and 5 will be another event. 4 to 5 probability.

Somehow, how do bookies set odds? **Bookmakers** start off by setting their margin (let's say 5%) and they then **set** the **odds** for the various outcomes incorporating this commission. ... If the real **probability** is 2/1 (3.0 in decimal, 200 in American) then the **bookie** will subtract their 5% margin and the real **odds** given will be 19/10 (2.90, 190).

In spite of everything, what do Odds 7 4 mean?

Those style of **odds are** called "Fractional **odds**." The first number is how much you win relative to how much you bet (the second number) So **7/4 odds mean** that if you bet $4, and the outcome happens, you win $7 (plus your original $4.) 4/1 **odds mean** that if you bet $1 and it happens, you win $4 (plus your original $1)

How do you understand over under odds?

Usually, an NFL **Over**/**Under** bet is listed with a corresponding money **line**. For example: **Over** (–110) or **Under** (+110), meaning you'd wager $110 for the chance to win an additional $100 if you bet the **over** or wager $100 for the chance to win $110 if you bet the **under**.

How do you **convert odds** to **probability percentages**? Decimal - 1 divided by the decimal **odds**, multiplied by 100 to give a **percentage** e.g. decimal **odds** of 2 = (1/2) * 100 = 50%. Fraction - 1 divided by (the fractional **odds** plus 1), multiplied by 100 to give a **percentage**.

To convert **odds** to **probability**, take the player's chance of winning, use it as the numerator and divide by the total number of chances, both winning and losing. For example, if the **odds** are 4 to 1, the **probability** equals 1 / (1 + 4) = 1/5 or 20%.

This means that out of 12 possible outcomes, **odds** are that there will be 7 of one kind of outcome and 5 of another kind of outcome. For every 12, **odds** are that 7 will be a particular event and 5 will be another event.

- 1 to 3 odds. This means that out of 4 possible outcomes, odds are that there will be 1 of one kind of outcome and 3 of another kind of outcome. ...
- 1 to 3 probability. There is a
**25.00 percent**probability of a particular outcome and**75.00 percent**probability of another outcome. - 1 to 3 odds payout.

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