Odds Probability Calculator
Make use of our handy user friendly Odds Probability Calculator tool to check the odds of winning or loosing probability of an event. It converts the decimals to the percentages and produces the winning or loosing event details. Provide two decimal numbers in the allotted input sections of the calculator, and choose the odds for winning or against winning. Press on the calculate button to get the probability percentage of winning or losing as result.
Odds Probability Calculator: When you are playing a lottery or other games, the chances of winning or loosing possibility is reported by the game organizer. If you are willing to know the odds probability procedure before the game organizer reveals the answer, then read this entire page. You will find the formulas and step by step process to solve the odds probability along with few solved example problems from the below sections.
How to Calculate Odds Probability of Winning or Loosing?
Odds provide a measure of the likelihood of a particular outcome. Now the below steps will help you to solve the questions on odds probability. Go through the best and easy steps to find the result.
- Get the chance of winning and chance of against winning numbers from the question as A and B.
- The formula to calculate the chance of winning probability is PW = A / (A + B)
- The probability of losing formula is PL = B / (A + B)
- Substitute the values in any of the above formula.
- Perform the addition operation in the denominator.
- Divide the numbers to get the winning or loosing probability.
Odds Probability Formulas
Generally odds are given as (chance of success) : (Chance against success) or vice versa.
The formulas to calculate the Odds winning and loosing probability are listed here:
Probability of winning PW = A / (A + B)
Probability of loosing PL = B / (A + B)
Here, A, B are the odds for the chance of winning, chance against winning.
Example
Question: Amith win a game if he pull an ace out of a full deck of 52 cards? What is the odds for winning?
Solution:
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)
So, A = 4, B = 48
For 4 to 48 odds for winning:
Probability of winning PW = A / (A + B)
= 4 / (4 + 48)
= 4 / 52
= 0.0769 or 7.6923%
Probability of loosing PL = B / (A + B)
= 48 / (48 + 4)
= 48 / 52
= 0.92307 or 92.3077%
∴ Winning probability is 7.6923% and loosing probability is 92.3077%.
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FAQs on Odds Probability Calculator
1. How do you calculate odds of something happening multiple times?
Multiply the probability of the first event by the second event to get the odds of something happening multiple times.
2. What are the 5 rules of probability?
The five basic rules of probability are listed here:
Rule 1: For any event A, 0 ≤ P(A) ≤ 1.
Rule 2: Sum of probabilities of all possible outcomes is 1.
Rule 3: Component Rule
Rule 4: Addition rule for disjoint events.
Rule 5: General addition rule
3. What is probability and odds probability formulas?
The basic probability formula is P(A) = n(A) / n(S)
Where, P(A) is the probability of an event
n(A) is the number of favorable outcomes
n(S) is the total number of events in a sample space.
Odds probability of winning PW = A / (A + B)
Odds probability of loosing PL = B / (A + B)
Where, A, B are the odds for the chance of winning and chance against winning.
PW Winning probability
PL loosing probability.