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Old 02-15-2005, 02:46 PM
olavfo olavfo is offline
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Join Date: Jan 2005
Posts: 303
Default Re: Trouble counting odds

Odds expressed as A/B means you will win B out of A+B times (if we assume that the odds reflect the true probabilities and that there's no bookie overround).

Odds 1/16 = you win 16 out of 17 = 1/17 chance to lose

Odds 1/6 = you win 6 out of 7 = 1/7 chance to lose

The probability of both teams losing is then

(1/17)*(1/7) = 1/119 = 0.84%

olavfo
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