Odds vs. Probability

Oddsnoun

The ratio of the probabilities of an event happening to that of it not happening.

Oddsnoun

The ratio of winnings to stake in betting situations.

Oddsnoun

plural of odd

Odds

Difference in favor of one and against another; excess of one of two things or numbers over the other; inequality; advantage; superiority; hence, excess of chances; probability. The odds are often expressed by a ratio; as, the odds are three to one that he will win, i. e. he will win three times out of four

Odds

Quarrel; dispute; debate; strife; - chiefly in the phrase at odds.

Oddsnoun

the probability of a specified outcome

Oddsnoun

the ratio by which one better's wager is greater than that of another;

Odds

Odds provide a measure of the likelihood of a particular outcome. They are calculated as the ratio of the number of events that produce that outcome to the number that do not.

Probabilitynoun

The state of being probable; likelihood.

Probabilitynoun

An event that is likely to occur.

Probabilitynoun

The relative likelihood of an event happening.

Probabilitynoun

(mathematics) A number, between 0 and 1, expressing the precise likelihood of an event happening.

Probabilitynoun

The quality or state of being probable; appearance of reality or truth; reasonable ground of presumption; likelihood.

Probabilitynoun

That which is or appears probable; anything that has the appearance of reality or truth.

Probabilitynoun

Likelihood of the occurrence of any event in the doctrine of chances, or the ratio of the number of favorable chances to the whole number of chances, favorable and unfavorable. See 1st Chance, n., 5.

Probabilitynoun

a measure of how likely it is that some event will occur;

Probabilitynoun

the quality of being probable

Probabilitynoun

the quality or state of being probable; the extent to which something is likely to happen or be the case

Probabilitynoun

a probable or the most probable event

Probabilitynoun

the extent to which an event is likely to occur, measured by the ratio of the favourable cases to the whole number of cases possible

Probability

Probability is the branch of mathematics concerning numerical descriptions of how likely an event is to occur, or how likely it is that a proposition is true. The probability of an event is a number between 0 and 1, where, roughly speaking, 0 indicates impossibility of the event and 1 indicates certainty.