Depends. Here's how it looks:
For 10 to 1 odds of winning;
Probability of winning:
0.090909, or;
Chance of winning:
9.09%
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Here are the two for comparison;For 3 to 1 odds of winning;Probability of winning:0.25, or;Chance of winning:25%---------------------For 9 to 1 odds of winning;Probability of winning:0.1, or;Chance of winning:10%
It means there is a chance of being right 2 times out of three. 2:1 odds means 1 chance of 3 to be right; 1:1 odds means an even chance; 1:2 (0.5)odds is 2 of 3; 1:9 is 9 chances of being right out of 10 etc.
For every unit you bet you will win 20 units, always assuming you do indeed win!
(6/10) / (1/5) = (6/10) * (5/1) = 30/10 = 3(6/10) / (1/5) = (6/10) * (5/1) = 30/10 = 3(6/10) / (1/5) = (6/10) * (5/1) = 30/10 = 3(6/10) / (1/5) = (6/10) * (5/1) = 30/10 = 3
When we raise a number to a negative exponent, it is the same as taking the reciprocal of the number raised to the positive exponent. So, 10 to the power of -1 is the same as 1 divided by 10 to the power of 1. Since 10 to the power of 1 is 10, the reciprocal of 10 is 1 divided by 10, which equals 0.1 or 1/10.