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tocomment
on Jan 31, 2013
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Tomorrow’s world: A guide to the next 150 years
How do you read the odds numbers? Is 8/1 likely or not likely?
anywherenotes
on Jan 31, 2013
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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%.
netcan
on Jan 31, 2013
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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.
mmahemoff
on Jan 31, 2013
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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
netcan
on Jan 31, 2013
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you're right. oops.
vinilios
on Jan 31, 2013
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to get the probability out of a/b calculate (b/(a+b))*100
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