What does 58 to 3 odds mean?

"What does 58 to 3 odds mean?" Here we will tell you what 58 to 3 odds mean, what 58 to 3 probability means, and show you what a 58 to 3 odds payout would be.

58 to 3 odds
This means that out of 61 possible outcomes, odds are that there will be 58 of one kind of outcome and 3 of another kind of outcome.

For every 61, odds are that 58 will be a particular event and 3 will be another event.

58 to 3 probability
There is a 95.08 percent probability of a particular outcome and 4.92 percent probability of another outcome.

58 to 3 odds payout
If you bet 1 on a game with 58 to 3 odds and you win, your total payout will be 20.33 which is your bet plus 19.33 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 58 to 3, the fraction for the Odds is 58/3, but the fraction to calculate the probability is 58/61.

Formulas and calculations used for 58 to 3 odds where A=58 and B=3

Odds
A / B =
58 / 3 =
58/3

Probability
A / (A + B) =
58 / (58 + 3) =
58/61 = 95.08%

Payout
((Bet*A)/B)) + Bet =
((1*58)/3)) + 1 =
20.33

Odds Calculator
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What does 58 to 4 odds mean?
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