What Does 7 To 1 Odds Mean
It means that - for every £1 you bet - you get back seven IF it wins! 2.50 odds is 0.40 (or 40% if expressed as a percentage). This means that odds of 2.50 on any possible outcome imply that the chance of that outcome happening is roughly 40%. So if, for example, a tennis player is at 2.50 to win an upcoming match, the implication is that he has a 40% chance of actually winning that match. Odds represent the likelihood of an outcome occurring. In sports betting, each team is assigned odds that represent the likelihood of them winning the game. When the odds for two teams are even, meaning 1 to 1, it means that each team is equally as likely to win the game. If Team A is assigned 2 to 1 odds, it means Team B is twice as likely to win. Therefore, the odds of rolling four on a dice are 1/5 or 20%. Odds Ratio (OR) is a measure of association between exposure and an outcome. The OR represents the odds that an outcome will occur given a particular exposure, compared to the odds of the outcome occurring in the absence of that exposure. Important points about Odds ratio.
The odds on boxing fights are a bit confusing if you don’t know how to read them. The betting odds for a fight usually look something like this…
- Mike Tyson (-320)
- Evander Holyfield (+210)
Favorite Betting
In this example, Mike Tyson would be the favorite in the fight. And his odds for the fight are -320, which is the same as 3.2-1. So for every $3.20 you bet on Mike Tyson you would profit $1 if he won. So if you bet $320 on Tyson and he wins, then you would profit $100.
If Tyson loses the fight, you would lose $320.
Underdog Betting
In this example, Evander Holyfield would be the underdog. His odds for the fight are +210, which means for every $1 you bet on the fight you would profit $2.10. So if you bet $100 on Holyfield and he wins the bout, then you will have profited $210.
If Holyfield were to lose the fight you would be out just your original $100.
Totals Odds In Boxing Betting
Some sportsbooks in Las Vegas and online, put out odds on the total amount of rounds the fight will go. So a total for this fight might look like this.
- Over 10.5 rounds (-145)
- Under 10.5 rounds (+110)
With a totals bet you’re not betting on a fighter, you’re just betting whether or not the fight will go over or under the amount of rounds set by the sportsbook.
So if you think the fight will go less than 10.5 rounds, then you would bet on the Under 10.5 rounds at +110. And just like with the odds above you would be wagering $100 to win $110 of profit.
Totals bets are very popular in other sports like football, but usually only get a lot of action in boxing when there is a big super fight ( ex.. Mayweather/De La Hoya).
In the future we will have a full guide for betting on boxing along with the same sort of boxing odds that are updated live at boxingodds.com.
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What Does 7 To 1 Odds Meaning
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.
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.
Odds, are given as (chances for success) : (chances against success) or vice versa.
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).
What Does 7 To 1 Odds Mean In Golf
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
What Does 7 To 1 Odds Means
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)
