For example, I am trying to find two events with the same odds to support an argument about the likelihood of something to happen. For example, one sports team has a +175 to win the championship.
How can I find an event or occurrence with similar odds?
In: Mathematics
Easiest is probably just converting to the probability and then comparing it to drawing colored balls from a bowl. For example, +175 is about a 36% chance of winning, so compare it to drawing a blue ball out of a bowl with 36 blue balls and 64 red balls. In my experience betting odds are not very intuitive for most people, possibly by design. If you want to get to very small probabilities “# of coin flips with heads in a row” is pretty standard.
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