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I found an web page from Drexel University, "Ask Dr. Math", that explains the difference between odds and PROBABILITY. Perhaps that's the difference you're asking about.
See related link for the exact text.
"Odds" and "chances" are usually used interchangably.
The odds of my lottery ticket winning may be 100 million to 1.
(There are only two possible -outcomes- for that ticket. It's a winner, or it's a loser.)
Reply: The factor of PROBABILITY is exactually the point I am getting to... My question is more about PERCENTAGE than PROBABILITY because I am referring to a "combination" of numbers, such as five, or six, numbers appearing from a total comprised amount of numbers (number of chances). Since "lottery" has entered your answer to my question, we'll use that for the subject. ODDS and CHANCES are used interchangably, but there is still a difference between the two. If you were playing lottery would you select a combination like: 1-2-3-4-5-6? Why not? Because it would be improbable- right? You would pick more of a "scatter" pattern- because the "odds" say you have a better chance. This being a fact, patterns appear on different percentage levels (of wahich there can only be eleven) comprising the total number of chances. Of course, you would play the most propable one- eliminating the other ten patterns, and thus increasing your odds.
No. Although "odds" and "chances" ARE used interchangably in common conversation, there is a HUGE difference in the terms.
Simply put, "chance" relates to the likelyhood of a future event WITH NO HISTORY considered. "Odds", on the other hand, considers history. "Chance" is expressed as a percentage translation of the ratio of a particular outcome versus all possible outcomes.
"Odds" are expressed as a ratio WITHOUT a percentage translation. For example, if a (fair) coin is tossed 3 times and all three tosses land on heads, the PROBABILTY (odds) of the next toss coming up heads is only 1 of 16. The "CHANCE", on the other hand, never changes and is 50% on EVERY toss.
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What are odds?
-Opposites of evens. -odds can also mean the chances of something happening.
What are the odds?
Odd numbers are any number with 1,3,5,7,9 at the end of them i.e 135 but odds alone is used to represent chances of an event to happen against chances of not to happen, it is in relation to probability but it is not the same. For example, the probability when you throw two dices to obtain 1 and 1 is 1/36 but the odds are represented as 1 against 35, usually represented as 1 : 35.
What are the chances of getting an odd number card?
In a 52 deck card there are 20 even numbered cards. So, your odds would be 20 out of 52 or reduced to 5 out of 13 chance.
Given odds 9 to 7 what are the odds of winning?
If the odds are 9 to 7, the chance of winning is 43.75%
What are the odds of rolling two sixes?
The odds are 1:36
What are odds?
-Opposites of evens. -odds can also mean the chances of something happening.
What are the chances of dying on a motorcycle?
your odds of dying on a motorcycle are 1 in 1,020. at least that's what i found on this website http://www.blog.joelx.com/odds-chances-of-dying/877/
What are the chances of dying in a truck crash?
Check out the link, it has all the odds.
What are the chances of you getting a girlfriend?
Without knowing you we can't provide odds.
What are the odds of being attacked by a shark?
The chances are about 300 MILLION-to-One.
How are odds related to probability?
Probability of an event A is P(A) is the (chance of A)divided by (the total chances) and odd is (Chances for: Chances against) For example the probability of picking a 6 in a deck of cards is 4/52 and the odds are 4:52-4=4:48 or 1:12
What are the chances of making to minor league baseball?
Not high odds
What are odds of getting pregnant if sperm is outside?
Not very High. It CAN happen, but chances are it won't.
What are the odds of getting a ROTC scholarship?
your chances are to get A and just BS BUT MOSTLY As and be a good student
What are the chances of Minnesota Vikings beating Dallas in the playoffs?
Any bookmaker will give you their odds. They will mostly agree.
Do the odds of getting multiple sclerosis differ amongst different ethnic groups?
yes
Do the odds of winning the lottery increase if you buy 2 tickets?
If your odds for 1 ticket are 1 in 14,000,000 then your odds for two tickets are 1 in 13,999,999 given that the tickets had different numbers. Still like your odds of winning?
