Odds Against — Definition, Formula & Examples
Odds Against
Odds m:n (read aloud "m to n") against an event mean we expect the event will not to occur m times for every n times it does occur.
When the odds against an event are the probability the event will occur is
Example: The odds against rolling a 3 on a fair six-sided die are 5:1 since this event has a 1/6 probability. We expect five rolls of numbers other than 3 for every one roll that is a 3.
See also
Key Formula
Where:
- = The probability that the event E occurs
- = The probability that the event E does not occur, equal to 1 − P(E)
