Ask Dr. Math Odds vs. Probability

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 Odds vs. Probability, a selection of answers from the Dr. Math archives. Probability vs. Odds, Explained Given a coin with heads on one side and tails on the other, what are the odds in favor of getting heads, and the odds against? Horse Racing Odds In horse racing the odds often add up to more than one. Why? Odds Slang for Probability? Is "odds" slang for probability? Calculating a Casino's Edge From Odds How can I calculate the casino's edge, if the odds of winning are 5 to 1 and the casino's payout is 4 to 1? Poker Hand Odds What are the odds of getting exactly one pair in five card stud poker, using one 52-card deck? Odds vs. Probability What's the probability that a man can draw the numbers 2 and 7 from a hat containing the numbers 1-8? Working Out Betting Odds I am doing a horse racing night in a local pub, and as part of the committee I have been asked to try to find out how to work out the betting odds for each horse...