How to convert odds to probability
The calculator converts the “Probability of Winning” of the event into a percentage of the probability of success.
The odds are expressed as (chance of success): (chance against success) or vice versa.
If odds are stated as an A to B chance of winning then the probability of winning is given as PW = A / (A + B) while the probability of losing is given as PL = B / (A + B).
For example, you win a game if you pull an ace out of a full deck of 52 cards. Pulling any other card you lose. The chance of winning is 4 out of 52, while the chance against winning is 48 out of 52 (52-4=48). Entering A=4 and B=48 into the calculator as 4:48 odds are for winning you get
For 4 to 48 odds for winning;
Probability of:
Winning = (0.0769) or 7.6923%
Losing = (0.9231) or 92.3077%
“Odds for” winning: 1:12 (reduced from 4:48)
“Odds against” winning: 12:1 (reduced from 48:4)
| Best Highest odds betting site in the World 2022 | |||
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| Best Highest odds betting site in the World 2022 | ||
|
1x_86570 | |
