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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




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