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suppose you are playing a game of chance. If you bet $2 on a certain event, you will collect $92 (including your $2 bet), if you win. FInd the odds used for determining the payoff
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suppose you are playing a game of chance. If you bet $2 on a certain event, you will collect $92 (including your $2 bet), if you win. FInd the odds used for determining the payoff

User Kelp
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even odds 1/1 would be collecting $5 back, so you get 10/5 and you calculate the odds from (10 - 5)/5. So 11/5 back is (11 - 5)/5= 110/5= 22/1 odds.
User Alexander Braekevelt
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