Risk glossary

 

Odds (betting)

As typically used in wagering outcomes, the odds of success/winning are expressed in the form ‘r:s’ (‘r to s’) and correspond to the probability of succeeding/winning [P=s/(r+s)]. Therefore, given a probability P, the odds of succeeding/winning are (1/P)-1: 1.

  • LinkedIn  
  • Save this article
  • Print this page