What does 61 to 62 odds mean?

"What does 61 to 62 odds mean?" Here we will tell you what 61 to 62 odds mean, what 61 to 62 probability means, and show you what a 61 to 62 odds payout would be.

61 to 62 odds
This means that out of 123 possible outcomes, odds are that there will be 61 of one kind of outcome and 62 of another kind of outcome.

For every 123, odds are that 61 will be a particular event and 62 will be another event.

61 to 62 probability
There is a 49.59 percent probability of a particular outcome and 50.41 percent probability of another outcome.

61 to 62 odds payout
If you bet 1 on a game with 61 to 62 odds and you win, your total payout will be 1.98 which is your bet plus 0.98 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 61 to 62, the fraction for the Odds is 61/62, but the fraction to calculate the probability is 61/123.

Formulas and calculations used for 61 to 62 odds where A=61 and B=62

Odds
A / B =
61 / 62 =
61/62

Probability
A / (A + B) =
61 / (61 + 62) =
61/123 = 49.59%

Payout
((Bet*A)/B)) + Bet =
((1*61)/62)) + 1 =
1.98

Odds Calculator
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What does 61 to 63 odds mean?
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