What does 62 to 1 odds mean?

"What does 62 to 1 odds mean?" Here we will tell you what 62 to 1 odds mean, what 62 to 1 probability means, and show you what a 62 to 1 odds payout would be.

62 to 1 odds
This means that out of 63 possible outcomes, odds are that there will be 62 of one kind of outcome and 1 of another kind of outcome.

For every 63, odds are that 62 will be a particular event and 1 will be another event.

62 to 1 probability
There is a 98.41 percent probability of a particular outcome and 1.59 percent probability of another outcome.

62 to 1 odds payout
If you bet 1 on a game with 62 to 1 odds and you win, your total payout will be 63.00 which is your bet plus 62.00 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 62 to 1, the fraction for the Odds is 62/1, but the fraction to calculate the probability is 62/63.

Formulas and calculations used for 62 to 1 odds where A=62 and B=1

Odds
A / B =
62 / 1 =
62/1

Probability
A / (A + B) =
62 / (62 + 1) =
62/63 = 98.41%

Payout
((Bet*A)/B)) + Bet =
((1*62)/1)) + 1 =
63.00

Odds Calculator
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What does 62 to 2 odds mean?
Go here for the next odds on our list that we have interpreted.