Question
If you are given odds of 6 to 7 in favor of winning a bet, what is the probability of winning
the bet?
The probability is
(Type an integer or a simplified fraction.)
the bet?
The probability is
(Type an integer or a simplified fraction.)
Ask by Best Hanson. in the United States
Mar 31,2025
Upstudy AI Solution
Tutor-Verified Answer
Answer
The probability of winning the bet is
Solution
- Let
be the probability of winning the bet. - Given the odds of winning are
to , this means for every wins, there are losses. Therefore, the ratio of wins to total outcomes (wins plus losses) is - Calculate the total outcomes:
- Thus, the probability of winning is
The probability is
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Simplify this solution Extra Insights
To calculate the probability of winning a bet given the odds of 6 to 7, you can use the formula:
In this case, there are 6 winning outcomes and 7 losing outcomes. So, the probability of winning is:
The probability is
If you think about it, odds represent the likelihood of occurrence in a fun way! It’s like a sporting event where the teams battle it out, except here, you can calculate your chances of being the winner of a bet. How thrilling is that?
Betting odds have origins that trace back centuries, intertwining with various cultures and sports! The concept is rooted in risk and reward assessment, evolving significantly over time. So next time you see odds, remember you’re part of a historical tradition!
