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How to convert odds to their implied probability
I found this helpful for getting to a percentage:
Quote:
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Yeah I wrote a paper on betting odds and all that, and this is one of the things I talked about. Always handy to know about
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my head hurts
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It's really quite simple, a fractional odd is basically the numerator of the fractional representation of the perceived chances of an outcome occurring, over the numerator and denominator of that fraction added together.
In the example given in the OP, the bookies think there's a 2 over 7 (28.57%) chance of that outcome occurring. |
Sam's eviction odds are currently 2/7.
So his likelihood of going is 77.8%. Pretty high! |
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