What does 3 to 15 odds mean?

"What does 3 to 15 odds mean?" Here we will tell you what 3 to 15 odds mean, what 3 to 15 probability means, and show you what a 3 to 15 odds payout would be.

3 to 15 odds
This means that out of 18 possible outcomes, odds are that there will be 3 of one kind of outcome and 15 of another kind of outcome.

For every 18, odds are that 3 will be a particular event and 15 will be another event.

3 to 15 probability
There is a 16.67 percent probability of a particular outcome and 83.33 percent probability of another outcome.

3 to 15 odds payout
If you bet 1 on a game with 3 to 15 odds and you win, your total payout will be 1.20 which is your bet plus 0.20 profit.

Odds vs. Probability
Note that odds and probability are not the same. Odds compare one event to another event, whereas probability compares one event to both possible events. Thus, when the odds are 3 to 15, the fraction for the Odds is 3/15, but the fraction to calculate the probability is 3/18.

Formulas and calculations used for 3 to 15 odds where A=3 and B=15

Odds
A / B =
3 / 15 =
3/15

Probability
A / (A + B) =
3 / (3 + 15) =
3/18 = 16.67%

Payout
((Bet*A)/B)) + Bet =
((1*3)/15)) + 1 =
1.20

Odds Calculator
3 to 15 odds is not the only odds we have the answer to. Enter odds to learn the meaning here.

What does 3 to 16 odds mean?
Go here for the next odds on our list that we have interpreted.