This calculator will convert "odds of winning" for an event into a probability percentage chance of success. This most likely means "500 to 1 Odds are against winning" which is exactly the same as "1 to 500 Odds are for winning." Probability Formulas: You may also see odds reported simply as chance of winning as 500:1. A 1 in 500 chance of winning, or probability of winning, is entered into this calculator as "1 to 500 Odds are for winning". When playing a lottery or other games of chance be sure you understand the odds or probability that is reported by the game organizer. If you see that the Patriots super bowl odds are 9/2, that is most likely "odds against" and should be entered in the calculator with "Odds are: against winning." This calculator will convert "odds for winning" an event or "odds against winning" an event into percentage chances of both winning and losing.īe careful if you are using sports teams odds or betting odds. Convert stated odds to a decimal value of probability and a percentage value of winning and losing.
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