Definitions for **"Odds"**

Difference in favor of one and against another; excess of one of two things or numbers over the other; inequality; advantage; superiority; hence, excess of chances; probability. The odds are often expressed by a ratio; as, the odds are three to one that he will win, i. e. he will win three times out of four

The line or price for a bet.

The mathematical probability of an outcome. Expressed as a ratio.

The chances of making a hand vs. the chances of not making a hand.

A measure of the likelihood that an event will occur. For example, the odds of developing a certain disease.

The chances that an event will occur. The probability of making your hand.

The odds of a random event, E, occurring is the probability that it will occur divided by the probability that it will not occur.

The ratio of the probability () that an event occurs to the probability (1-) that it does not. Odds = ). In a contingency table it is the ratio of the number of successes to the number of failures. (As distinguished from a probability, which is the ratio of the number of success to the total number of events.)

Another way of expressing probability, often used in betting on sports. If an event has a 10% probability of happening, there are 9 ways it can happen for every 1 that it can't, so the odds are expressed as "9 to 1 against".

Basically odds represent the chance of your horse winning - as defined by the bookmaker. So odds of 5/1 (which means 5 to 1) mean the bookmaker think it has a 1 in 6 chance of winning. To calculate your potential winnings, you multiply your stake by the odds. For example, if the odds are 5/1, and you bet £10, then you would win £10*5 = £50 if the horse wins. The "return" is £50 plus your stake, which you get back if the horse wins - so here, this would be £60. Odds can be expressed as a fraction, as in the example of 5/1 above or, as another example, 5/2 (5 to 2) which equates to 2.5 to 1. But the principle is the same - a bet of £10 would produce winnings of £25, and a return of £35. But odds can also be expressed as a decimal - so 5/1 would be 5.0, and 5/2 would be 2.5, in which case you just multiply the decimal form of the odds by your stake to get your winnings.

The mathematical likelihood that a certain event will or will not occur. In CRAPS, an extra bet in addition to the original bet.

The probable number of incidents of a given occurrence in a statistical universe or representative sample, expressed as a ratio to the probable number of nonoccurrences. (See also: probability.)

The ratio of the number of specific events to the number of other events (i.e., odds = # specific / # other). The odds of an event differ from the probability of an event in that the denominator for calculating odds is the non-events and the denominator for probability is the total of all events.

A ratio that expresses your chance of wining against your chances of losing

Betting term relating to the winning payoff from a particular dog

The odds of an event occuring is the ratio of the probability of that event occurring to the probability of the event not occuring. Note that this is significantly different from just the probability of the event occurring. For example, the probability of rolling a six on one fair die is 1/6, however, the odds of rolling a six is 1:5.

The likelihood that a specific event will occur.

a comparison of the unfavourable outcomes to the favourable outcomes

a comparison of the favourable outcomes to the unfavourable outcomes

Term given for the chances of winning/losing or the amount a wager earns.

are a ratio of events to non-events, e.g, if the event rate for a disease is 0.2 (20 per cent), its non-event rate is 0.8 (80%), then its odds are 0.2/0.8 = 0.25 (see also Odds Ratio).

Number of targeted events divided by the number of non-targeted events. EX: number of preterm deliveries divided by the number of normal term deliveries. If 3 of 10 women have preterm deliveries, the odds are .428 (3 / 7) while the proportion of preterm deliveries is .300 (3 / 10). [See also odds ratio, proportion

the probability of a specified outcome

the ratio by which one better's wager is greater than that of another; "he offered odds of two to one"

(in favour of an event) The probability of an event divided by the probability of its complement. For a binary variable, the odds are construed as in favour of the event called " success".

The sports books prediction of the chance for a competitor to win. Calculated to give the sports book a profit from bets made.

The chances, expressed mathematically, that an event will occur.

The probability of one horse winning over another.

The ratio or probability of an event occurring in the game of craps. See Tables of Odds for odds on all bets.

The amount a particular bet pays out, such as 1:1 and so on.

A numeric expression of a percentage in which gives a gambler his chance of winning any given bet or wager. Example: His odds for winning the horse race were one in ten. Payouts in horse racing are usually commensurate with the odds to which the bet was made.

a proportion in which the numerator contains the number of times an event occurs and the denominator includes the number of times the event does not occur. ( Harm)

The ratio of money that may be won versus the amount of money bet.

An expression of the probability of the occurrence of an event relative to the probability that it will not occur: Odds = p[event]/(1-p[event]).

the probability of winning vs losing a hand given your cards and the other possibilities that beat it

This is another name for the price. The chance offered for a selection to win.

Refers to the ratio of the number of people having the good event to the number not having the good event in an experimental trial.

1) the probability of winning; 2) the payout in relation to amount wagered.

The probability of making or not making a hand. For example, if you have a 25% chance of making a hand, the odds are 3:1 against you making it.

The returns on money bet on a game, based on the likely outcome of the game as determined by an Oddsmaker (see below).

The probability of making your hand.( see Odds and Outs page.)

The probability of receiving a winning hand, or difference between bets.

Chances of winning expressed in dollar terms

the ratio between the amounts staked on the outcome of a bet, based on the probability either way.

The payout ratio offered on a bet. For example, odds of 10/1 (expressed verbally as "ten to one") means that for each single unit staked, the bettor will receive ten units back if the outcome of the event is in favour of the bettor's choice. The bettor also receives any units staked back.

The amount a bet pays out: 2-1, 7-5, 35-1. OFF Term meaning that bets are not working.

The probability of making or not making a hand (e.g. if you have a 25% chance of making a hand, the odds are 3 to 1 against your making it).

Off an odd bets that are "not working". Odds bets can be called "off" by the player at any time, but are left on the felt until the bet is resolved. Also, come odds bets are usually "off" during the come out roll, unless the bettor asks to have the odds bets "working". Come odd bets that are "off" will be returned to the player if the line bet loses on the come out roll. Don't come odds generally work on the come-out roll.

The probability of winning in ratio to the probability of not winning.

The probability of making versus not making a hand.

The percent chance of getting cards.

Odds are defined as the ratio of the number of people who experience the outcome of interest compared to the number who do not. E.g. if 20 out of 100 people admitted to hospital after a heart attack die within a month, then the odds of dying within a month is 20/80 or 1 in 4.

The probability of making a hand versus the probability of not making the hand.

The probability of achieving an outcome vs. the probability of not achieving the outcome.

the ratio of one event occurring to it not occurring.

probabilities to get a particular hand in 5 cards.

The figure or fraction by which a bookmaker or totalisator offers to multiply an investor's stake - which, plus his or her own stake, the investor is entitled to receive if they invest on the winner of a race.

the rate of payoff from a certain bet compared to its initial bet, for instance: 5-3, 3-2

A term little used outside gambling and statistics. It is defined as the ratio of the probability of an event happening, to that of its not happening. Think of it as meaning 'risk'.

Usually the ratio of the probability of making a hand to not making the hand. Ie., if you have a 25% chance of making your hand the ratio is 3 to 1. Very important in figuring out pot odds.

The probable frequency of incidence of a given occurrence in a statistical sample. It is expressed as a ratio to the probable number of nonoccurrences or as a decimal fraction of the total occurrences. For example, a probability of .25 equals odds of three to one against. A probability of .75 equals odds of three to one for. See also Probability, Law of Large Numbers, and Degree of Risk. (G)

The chances of something happening or the potential return from a bet. Either can be expressed as a fraction (2-1), decimal (.5) or percentage (50%). In poker players are primarily concerned with the odds of certain cards showing up on the board compared to the odds paid on bets (combined, these are called Pot odds).

The figure or fraction by which a bookmaker or totalisator offers to multiply a bettor's stake, which the bettor is entitled to receive (plus his or her own stake) if their selection wins.

The chances of getting various hands or cards.

The ratio/likelihood of an event in probability happening. The odds of flipping a coin and having it land on heads has a 1-2 chance.

The price a sportsbook offers on the occurrence of a particular event.

the mathematical chances that a certain event will occur. (i.e. dealer gets 5 Blackjacks in a row!) What are the odds of that? :-)

The probability of making a hand versus not making one

Odds reflect the probability of the outcome of a specified event. They refer to the dividend or return you would get from a unit stake placed at those odds Multiply the odds figure by your stake to calculate potential winnings

The interrelation of chance that event will happen to the possibility that it won't. For example the odds of rolling 1-1 are 35 to 1 against.

The chance of a competitor winning as given by a bookmaker. Typically given as fractional or decimal figures.

betting price offered by a bookmaker about a horse in a race. A horse at 2/1 is considered more likely to win than a horse at 20/1. $1 win bet a 2/1 returns a profit of $2, while at 20/1 it returns a profit of $20.

The odds are the price that a bookmaker or betting exchange customer sets for the selection in a particular event. The smaller the odds, then the more chance you have of winning, but the less money you will win.

The sportsbook's or bookmaker's view of the chance of a competitor winning (adjusted to include a profit).

The statistical probability of making a hand.

The probability of a certain occurrence versus the probability of it not happening.

Also referred to as the price. The returns a bookmaker offers for a selection to win.

price offered about a horse, the shorter the odds the more fancied its chances of victory

The return offered by the bookmaker on a selection to win. Basically odds represent the chance of your outcome winning - as defined by the bookmaker. So odds of 5/1 (which means 5 to 1) mean the bookmaker think it has a 1 in 6 chance of winning.

The likelihood of the outcome occurring, stated in numbers form.

The likelihood that an event will happen or the probability of making or not making a hand. It is very important for a poker player to know the odds on hitting flushers, straights etc when considering pot odds.

Odds are the chances that a particular event will take place.

The mathematical chances that an event will occur.

Ratio of probabilities.

The probability that an event will occur divided by the probability that the event will not occur.

are a ratio of events to non-events. If the event rate for a disease is 0.1 (10 per cent), its nonevent rate is 0.9 and therefore its odds are 1:9, or 0.111. Note that this is not the same expression as the inverse of event rate.

The ratio of the probability that an event will occur compared with the probability of it not occurring.

the ratio between the amount to be paid to the winning player and the amount bet.

Correct odds are the ratio of favorable vs. unfavorable possibilities.

The figure in $NZ by which a bookmaker offers to multiply an investor's stake - which the investor is entitled to receive if they have bet on a winner.

The chance of winning. Example: The chance of winning a Lotto 6/49 game is 1 out of 13,983,816

the amount a bet pays. For example 2-1, 5-2.

The "odds" refer to the probability of an event happening, which is expressed as a ratio of the favorable chance to the unfavorable chance of that event occurring.

1. The proportion by which one bet differs from that of another. 2. The ratio between the probability for and against something happening.

The ratio of favorable outcomes to unfavorable outcomes. Expressed as "X to Y for / against." Eg. "2 to 1 against" means that for every favorable outcome there are two unfavorable outcomes. Eg. "A four-flush on the flop is 1.9 to 1 against completing by the river" means that for every time a flush draw completes, it will fail to complete 1.9 times. Also expressed as 2-1, or 2:1.

The mathematical probability of a bet winning.

The chances of getting various hands or card based on probabilty.

Also the line, or the price. The figure by which you multiply your stake to calculate your potential winnings.

The ratio to which your bet will be paid if your bet wins. e.g. 3-1 means for every £1 you bet, you will receive £3 of winnings

The probability of making a hand vs. the probability of not making a hand.

The amount a bet pays off. For example, 10 to 1, 3 to 1, 30 to 1, etc.

The ratio of the number of ways to win versus the number of ways to lose.

In probability theory and statistics the odds in favour of an event or a proposition are the quantity p / (1 − p) , where p is the probability of the event or proposition. In other words, an event with m to n odds would have probability m/(m + n). For example, if you chose a random day of the week, then the odds that you would choose a Sunday would be 1/6, not 1/7.

chess players.

A method of using a handicap in chess. Rook-odds means that one player removes a rook before the start of the game. Pawn-and-move odds means that one player removes a pawn and also takes the Black pieces, thereby allowing the opponent to move first.

Handicaps, point spreads and prices offered to the punter.

chessplayers.

The likely hood of something happen determined by a statistical analysis of cards in play.

Projecting the stock price randomly into the future using the SV, this is the predicted profits divided by the predicted losses

Odds is the predicted profits divided by the predicted losses obtained by projecting the stock price randomly into the future using the Statistical Volatility (SV). The prediction stops at the expiration of the earlist expiring option leg.

Quarrel; dispute; debate; strife; -- chiefly in the phrase at odds.

Percentage possibilities in gambling.