Am I Missing Something Here?

Last night a buddy of mine showed me a side bet you can make on Party Poker. Before you see any cards you can make a side bet on whether the flop will be all red or all black (you choose one). The payout is 8:1 but I calculated that the odds against this bet to be 7.5:1. Is there something wrong with my math? I can't imagine Party would give you the odds to make this bet. Or is Party only giving you 7:1 on your money and is including your bet as part of the payout?

[LetYouDown]

Search function is your friend. It has everything to do with the wording. Keyword: "for".

I didn't see anything that looked like an answer when I used the search.

[elitegimp]

the pay out is 8 FOR 1, not 8 TO 1, so you are getting 7 TO 1 making it a bet that favors the house.

If you search for "Party Side Bet" or something, you should see a ton of threads about it.