What are odds?

  • (noun): The ratio by which one better's wager is greater than that of another.
    Example: "He offered odds of two to one"
    Synonyms: betting odds
    See also — Additional definitions below

Odds

The odds in favor of an event or a proposition are the ratio of the probability that an event will happen to the probability that it will not happen. For example, the odds that a randomly chosen day of the week is a Sunday are one to six, which is sometimes written 1:6.

Read more about Odds.

Some articles on odds:

Odds - Historical
... The language of odds such as "ten to one" for intuitively estimated risks is found in the sixteenth century, well before the discovery of mathematical probability ...
Mathematics Of Bookmaking - Settling Winning Bets
... In settling winning bets either decimal odds are used or one is added to the fractional odds this is to include the stake in the return ... bets is calculated separately from the win part the method is identical but the odds are reduced by whatever the place factor is for the particular event (see Accumulator below for detailed example) ... All show use of fractional odds replace (fractional odds + 1) by decimal odds if decimal odds known ...
Cribbage Statistics - Odds
... The odds of getting a 28 hand in a two-player game are 1 in 15,028 ... The odds of getting a perfect 29 hand in a two-player game are 1 in 216,580 ... The odds of getting a perfect 29 hand in a three- or four-player game are 1 in 649,740 ...
Against All Odds (2009)
... Against All Odds (2009) was a professional wrestling pay-per-view (PPV) event produced by Total Nonstop Action Wrestling (TNA), which took place on February 8, 2009 at the TNA Impact! Zone in Orlando, Florida ...
Lotto*America
... Matching all seven won the jackpot, whose odds were roughly 1 in 18 million, at the time the toughest odds in the country ... The jackpot odds actually became more favorable at 1 in 13 million per dollar however, overall odds were much tougher, since four numbers were still needed to win the lowest prize level ... change, in 1992, to the original version of Powerball, which had then-unheard of jackpot odds of 1 in 55 million ...

More definitions of "odds":

Famous quotes containing the word odds:

    However great a man’s fear of life, suicide remains the courageous act, the clear- headed act of a mathematician. The suicide has judged by the laws of chance—so many odds against one that to live will be more miserable than to die. His sense of mathematics is greater than his sense of survival.
    Graham Greene (1904–1991)

    It makes no odds where a man goes or stays, if he is only about his business.
    Henry David Thoreau (1817–1862)

    Irish? In truth I would not want to be anything else. It is a state of mind as well as an actual country. It is being at odds with other nationalities, having quite different philosophy about pleasure, about punishment, about life, and about death. At least it does not leave one pusillanimous.
    Edna O’Brien (b. c. 1932)