odds terminology, does a bet pay 1:1 or 2:1

[AaronBrown]

I agree with both posters, but will add a little bit.

"1 to 1" and "2 for 1" mean the same thing mathematically, but the first implies a bet and the second a purchase. In the first, each person has put up a stake, and the winner will get both. In the second, the player has purchased a contingent right from another entity, which will pay off based on the event.

In poker, the first usage is clearly appropriate. Each player puts money in the pot, the winner takes it. In a casino, the second really makes more sense. But casinos like to use the first, because they like the illusion that the house is gambling too.