What does 98 to 3 odds mean?

"What does 98 to 3 odds mean?" Here we will tell you what 98 to 3 odds mean, what 98 to 3 probability means, and show you what a 98 to 3 odds payout would be.

98 to 3 odds
This means that out of 101 possible outcomes, odds are that there will be 98 of one kind of outcome and 3 of another kind of outcome.

For every 101, odds are that 98 will be a particular event and 3 will be another event.

98 to 3 probability
There is a 97.03 percent probability of a particular outcome and 2.97 percent probability of another outcome.

98 to 3 odds payout
If you bet 1 on a game with 98 to 3 odds and you win, your total payout will be 33.67 which is your bet plus 32.67 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 98 to 3, the fraction for the Odds is 98/3, but the fraction to calculate the probability is 98/101.

Formulas and calculations used for 98 to 3 odds where A=98 and B=3

Odds
A / B =
98 / 3 =
98/3

Probability
A / (A + B) =
98 / (98 + 3) =
98/101 = 97.03%

Payout
((Bet*A)/B)) + Bet =
((1*98)/3)) + 1 =
33.67

Odds Calculator
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What does 98 to 4 odds mean?
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