What is the difference between odds and probability?
In: Mathematics
They’re the same concept expressed in two different ways.
The odds that you will roll a 6 on a 6-sided die are 1 in 6, or 6 to 1.
The probability that you will roll a 6 is 16.66%, or 0.1666.
Same thing, two different ways to state it.
“Odds” can also mean the payout when gambling. In this case, the odds will usually closely approximate the probability of the thing you’re betting on happening, but the bookmakers who set those odds will adjust it to entice people to bet. This is really a completely different concept from “odds” as used above.
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