What does 37 to 1 odds mean?

"What does 37 to 1 odds mean?" Here we will tell you what 37 to 1 odds mean, what 37 to 1 probability means, and show you what a 37 to 1 odds payout would be.

37 to 1 odds
This means that out of 38 possible outcomes, odds are that there will be 37 of one kind of outcome and 1 of another kind of outcome.

For every 38, odds are that 37 will be a particular event and 1 will be another event.

37 to 1 probability
There is a 97.37 percent probability of a particular outcome and 2.63 percent probability of another outcome.

37 to 1 odds payout
If you bet 1 on a game with 37 to 1 odds and you win, your total payout will be 38.00 which is your bet plus 37.00 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 37 to 1, the fraction for the Odds is 37/1, but the fraction to calculate the probability is 37/38.

Formulas and calculations used for 37 to 1 odds where A=37 and B=1

Odds
A / B =
37 / 1 =
37/1

Probability
A / (A + B) =
37 / (37 + 1) =
37/38 = 97.37%

Payout
((Bet*A)/B)) + Bet =
((1*37)/1)) + 1 =
38.00

Odds Calculator
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What does 37 to 2 odds mean?
Go here for the next odds on our list that we have interpreted.