What does 56 to 1 odds mean?

"What does 56 to 1 odds mean?" Here we will tell you what 56 to 1 odds mean, what 56 to 1 probability means, and show you what a 56 to 1 odds payout would be.

56 to 1 odds
This means that out of 57 possible outcomes, odds are that there will be 56 of one kind of outcome and 1 of another kind of outcome.

For every 57, odds are that 56 will be a particular event and 1 will be another event.

56 to 1 probability
There is a 98.25 percent probability of a particular outcome and 1.75 percent probability of another outcome.

56 to 1 odds payout
If you bet 1 on a game with 56 to 1 odds and you win, your total payout will be 57.00 which is your bet plus 56.00 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 56 to 1, the fraction for the Odds is 56/1, but the fraction to calculate the probability is 56/57.

Formulas and calculations used for 56 to 1 odds where A=56 and B=1

Odds
A / B =
56 / 1 =
56/1

Probability
A / (A + B) =
56 / (56 + 1) =
56/57 = 98.25%

Payout
((Bet*A)/B)) + Bet =
((1*56)/1)) + 1 =
57.00

Odds Calculator
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What does 56 to 2 odds mean?
Go here for the next odds on our list that we have interpreted.