If the horse runs 100 races and wins 5 and loses the other 95 times, the probability of winning is 0.05 or 5%, and the odds of the horse winning are 5/95 = 0.0526.If a race horse runs 100 races and wins 25 times and loses the other 75 times, the probability of winning is 25/100 = 0.25 or 25%, but the odds of the horse winning are 25/75 = 0.333 or 1 win to 3 loses.So, in this example, if the probability of the event occurring = 0.80, then the odds are 0.80 / (1-0.80) = 0.80/0.20 = 4 (i.e., 4 to 1). The odds of an event represent the ratio of the (probability that the event will occur) / (probability that the event will not occur). (Example: If the probability of an event is 0.80 (80%), then the probability that the event will not occur is 1-0.80 = 0.20, or 20%. If the probability of an event occurring is Y, then the probability of the event not occurring is 1-Y.

The odds are defined as the probability that the event will occur divided by the probability that the event will not occur. Probabilities always range between 0 and 1. The probability that an event will occur is the fraction of times you expect to see that event in many trials. The Difference Between 'Probability' and 'Odds'

What do the odds 4 5 mean