Probability (of success) is the chance of an event happening For example, there might be an 80% chance of rain today Odds are the probability of success (80% chance of rain) divided by the probability of failure (% chance of norain) = 08/02 = 4, or 4 to 1 Logodds is simply the logarithm of odds 1 But in order to understand them Statements about probability tell you how likely it is that something will happen Something is probable when it has a chance of occuring that is somewhere north of 50% If you had to bet on it, the safe money would be to bet that it will happen It's not guaranteed, of course, but that's where the odds lie Summary 1 Probability is a mathematical measure of how often an event will occur;
Converting Between Probability And Odds Mathwoes Youtube
