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Odds in Gambling

A way of representing gambling payoffs of an event by a method similar to odds against. If the gambling odds are m:n (read aloud "m to n"), then a bet of n dollars pays m dollars profit if the bettor wins.

Note: Gambling odds are not probabilities. See odds in favor.

 

 


  this page updated 19-jul-17
Mathwords: Terms and Formulas from Algebra I to Calculus
written, illustrated, and webmastered by Bruce Simmons
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