250 1 Odds Calculator
These are calculated by dividing 100 by the odds plus stake, or the pay out for a one unit bet (say $1). For example, the price of a contestant is 8/10, or 4/5, or $1.80, or 1.8, or -125, depending on the bookmaker or country where these odds are displayed. 100 is divided by 1.8, giving about 55.6%. Probability to Odds Calculator. More about the Probability to Odds Calculator so that you can better understand the elements used in this calculator. It is common for people to have a confusion between the concepts of odds and probability, and often times, they incorrectly use them, most typically interchanging probability by odds. Know if you have the best poker card odds, with this good free odds calculator and become a poker star.
Calculator Use
Convert stated odds to a decimal value of probability and a percentage value of winning and losing. This calculator will convert 'odds for winning' an event or 'odds against winning' an event into percentage chances of both winning and losing.
250 1 Odds Calculator
Be careful if you are using sports teams odds or betting odds. If you see that the Patriots super bowl odds are 9/2, that is most likely 'odds against' and should be entered in the calculator with 'Odds are: against winning.'
When playing a lottery or other games of chance be sure you understand the odds or probability that is reported by the game organizer. A 1 in 500 chance of winning, or probability of winning, is entered into this calculator as '1 to 500 Odds are for winning'. You may also see odds reported simply as chance of winning as 500:1. This most likely means '500 to 1 Odds are against winning' which is exactly the same as '1 to 500 Odds are for winning.'
Probability Formulas:
This calculator will convert 'odds of winning' for an event into a probability percentage chance of success.
250 To 1 Odds Calculator
Odds, are given as (chances for success) : (chances against success) or vice versa.
250/1 Odds Calculator
If odds are stated as an A to B chance of winning then the probability of winning is given as PW = A / (A + B) while the probability of losing is given as PL = B / (A + B).
Odds Against Calculator
For example, you win a game if you pull an ace out of a full deck of 52 cards. Pulling any other card you lose. The chance of winning is 4 out of 52, while the chance against winning is 48 out of 52 (52-4=48). Entering A=4 and B=48 into the calculator as 4:48 odds are for winning you get
For 4 to 48 odds for winning;
Probability of:
Winning = (0.0769) or 7.6923%
Losing = (0.9231) or 92.3077%
'Odds for' winning: 1:12 (reduced from 4:48)
'Odds against' winning: 12:1 (reduced from 48:4)