What do odds mean
means you have to bet dollars to win that would be betting on a favorite.+ would mean you bet to win meaning you. Odds can be displayed in two ways: Fractions or Decimals. You will probably be most familar with odds as fractions (e.g. 3/1). However What does it mean?. What are the odds on x? What do they mean? What will I win if I bet x amount? Odds. A representation of the perceived frequency of an event derived from the. Argentina and Brazil Meet in Melbourne View from Down Under: The fact that there are many different odds formats - American, Decimal and Fractional - illustrates the point that odds are simply a means to an end i. In statistics, the odds for an event E are defined as a simple function of the probability of that possible event E. But one disadvantage of this can sometimes be that the odds may be presented in a format that you are not familiar with. Thus if expressed as a fraction with a numerator of 1, probability and odds differ by exactly 1 in the denominator: Culloden to Grind it Out From Looked at from the perspective of a gambler rather than a statistician, "better than evens" means "odds against".