Difference between revisions of "Calculate Odds"
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The mathematical concept of '' odds '' is related to, yet distinct from the concept of '' probability. '' In simplest terms, odds are a way of expressing the relationship between the number of favorable outcomes in a given situation versus the number of unfavorable outcomes. Usually, this is expressed as a ratio (like ''' 1 : 3 ''' or ''' 1/3'''). Calculating odds is central to the strategy of many games of chance, like roulette, horse racing and poker. Whether you're a high-roller or simply a curious newcomer, learning how to calculate odds can make games of chance a more enjoyable (and profitable!) activity. | The mathematical concept of '' odds '' is related to, yet distinct from the concept of '' probability. '' In simplest terms, odds are a way of expressing the relationship between the number of favorable outcomes in a given situation versus the number of unfavorable outcomes. Usually, this is expressed as a ratio (like ''' 1 : 3 ''' or ''' 1/3'''). Calculating odds is central to the strategy of many games of chance, like roulette, horse racing and poker. Whether you're a high-roller or simply a curious newcomer, learning how to calculate odds can make games of chance a more enjoyable (and profitable!) activity. | ||
| − | [[Category:Probability and Statistics]] | + | [[Category: Probability and Statistics]] |
== Steps == | == Steps == | ||
=== Calculating Basic Odds === | === Calculating Basic Odds === | ||
