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Unread 22 Dec 2005, 23:32   #5
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Re: Fantasy Betting for 2006

Quote:
Originally Posted by Phang
see this is an example of when you really totally absolutely shouldnt post because you don't know what you are talking about.
I don't think I'm wrong, he's talking about 'odds' but he's using the / which is probability. Odds uses the ':' which means 'to'.

Code:
Let me clarify the difference between probability and odds. The 
probability of an event is defined as:

             (Chances for)
     P(x) = ---------------
            (Total chances)

So, for example, the probability of drawing an ace in a single deck of 
52 cards is 4/52 = 1/13 (or about 0.077 = 7.7%).

Odds, on the other hand, are given as:

     (Chances for) : (Chances against)

Incidentally, odds of 1:1 would be read as "one TO one", not "one OUT 
OF one." (The words "out of" seem to imply total chances, which is 
probability, not odds.)
The last time I checked 1000/1 means 1,000 devided by 1 which equals 1,000 which multiplied by 100 to convert to percent is 100,000%.

ref: http://mathforum.org/library/drmath/view/56706.html
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