Comment on Tomorrow’s world: A guide to the next 150 yearsComments−tocomment13yHow do you read the odds numbers? Is 8/1 likely or not likely?−anywherenotes13yI didn't get this either. Some numbers are 1/25, which seems like 1 in 25 chance = 1/25 = 4% Yet other numbers are 6/1, which is 600%.−netcan13yIn UK gambling conventions, 8/1 means you win £8 on a £1 bet. So 12.5% chance, if the bookie is a non profit.−mmahemoff13yClose :). You receive £9 on a £1 bet (you get your outlay back), so it's 1/9 ~ 11.1%http://www.isfa.com/odds-probability-chart.php−netcan13yyou're right. oops.−vinilios13yto get the probability out of a/b calculate (b/(a+b))*100
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How do you read the odds numbers? Is 8/1 likely or not likely?
I didn't get this either. Some numbers are 1/25, which seems like 1 in 25 chance = 1/25 = 4% Yet other numbers are 6/1, which is 600%.
In UK gambling conventions, 8/1 means you win £8 on a £1 bet. So 12.5% chance, if the bookie is a non profit.
Close :). You receive £9 on a £1 bet (you get your outlay back), so it's 1/9 ~ 11.1%
http://www.isfa.com/odds-probability-chart.php
you're right. oops.
to get the probability out of a/b calculate (b/(a+b))*100