| | Odds article - Odds probability theory statistics logarithm logit bookmakers ratio - What-Means.com (Site not responding. Last check: 2007-10-08) |
 | | In probability theory and statistics the odds in favor of an event or a proposition are the quantity p/(1 − p), where p is the probability of the event or proposition. |
 | | This would be presented by a British bookmaker as odds of 4 to 1 against (written as 4/1), by a European bookmaker as 5.0 to include the returned stake, and by an American bookmaker as +400 representing the gain from a 100 stake. |
 | | This would be presented by a British bookmaker as odds of 4 to 1 on (written as 1/4), by a European bookmaker as 1.25 to include the returned stake, and by an American bookmaker as −400 representing the stake necessary to gain 100. |
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