Algebra 1 Notes: Lesson 2-6, Part 1: Simple Probability and Odds.
Lesson 1 what are odds
7
What are odds? • The ODDS are basically the chances of an outcome going in your favour. A good example would be the throw of a dice. A dice has 6 sides. • No matter which side you choose, the chances of the dice landing on your number is 1 in 6. • The odds that the dice will land on your number are 5 chances against it happening and 1 chance for it happening. • Your odds are therefore 5/1. 1
Transcript of Lesson 1 what are odds
What are odds?• The ODDS are basically the chances of an outcome going in your
favour. A good example would be the throw of a dice. A dice has 6 sides.
• No matter which side you choose, the chances of the dice landing on your number is 1 in 6.
• The odds that the dice will land on your number are 5 chances against it happening and 1 chance for it happening.
• Your odds are therefore 5/1.
1
• When we talk about ODDS in terms of betting, we aren’t talking about the true chances that an event will occur as with the throw of a dice, but instead
• the amounts a bookmaker will payout on winning bets.
2
What are odds?
Cookie the bookie
What Affects The Odds?
Every runner in a horse race is different.
• The jockey riding the horse, the
• breeding of a horse, the
• distance covered and how much weight the horse is carrying
• are only a few of the numerous factors that influence a horse's given chances.
3
Odds in sporting events and horse racing fluctuate according to market forces, meaning they are affected by the amounts of money being wagered.
• The more money being wagered on a horse, the shorter or less its odds become.
• Conversely, the odds of the other horses in the field increase.
4
What Affects The Odds?
The odds on a horse are determined by various factors
Two year-old horses – Breeding and cost as yearlings and the stable which they belong to.
5
The odds on a horse are determined by various factors
2. Horses whose odds are determined by form lines and sometimes by the betting support they received in past races. Winning form publishes a page that shows beaten favourites and horses backed in their last starts:
6
Rc No Horse O.P. S.P. Fin Comment Date Dist Jockey1 5 HOWYA Beaten, Backed
In 8/1 15/2 3 Prominent-
stayed on 12.08.27 1000 Brown S
1 6 TRUE PASSION
Beaten, Backed In
50/1 35/1 10 Never showed
12.07.30 1400 Herholdt F
1 7 SEXY STAR Beaten, Backed In
40/1 15/1 5 Faded badly in str.
12.08.27 1600 Herholdt F
1 9 FLIRTATIOUS LIGHT
Beaten, Backed-Fav
6/1 22/10 3 In touch-stayed on
12.08.04 1000 V.Rensburg M
1 11 BUBBLY BELLINI
Beaten, Backed In
25/1 22/1 3 Set pace-tired
12.08.27 1600 Yeo D
The odds on a horse are determined by various factors
3. With regard to sports betting the odds are determined by how well the team’s sportsmen/sportswomen perform, i.e., the better the form the better the odds.
4. Form is performance based on past achievements (the stronger the form the shorter the odds and vice versa).
7
