What does 62 to 61 odds mean?

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

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

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

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

62 to 61 odds payout
If you bet 1 on a game with 62 to 61 odds and you win, your total payout will be 2.02 which is your bet plus 1.02 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 61, the fraction for the Odds is 62/61, but the fraction to calculate the probability is 62/123.

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

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

Probability
A / (A + B) =
62 / (62 + 61) =
62/123 = 50.41%

Payout
((Bet*A)/B)) + Bet =
((1*62)/61)) + 1 =
2.02

Odds Calculator
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