Odds In Vegas
Get the latest NFL odds, spreads and betting lines from this week's games, as well as full coverage of the National Football League from USA TODAY. Find NFL Las Vegas Sportsbook Odds, Betting Lines and Point Spreads for the 2020-21 football season provided by VegasInsider. Apr 27, 2018 Vegas odds are often referred to as “American Odds” because Americans always have to be different. We ignore the metric system. We call football, soccer. We drive on the wrong side of the road. Slot Machine Odds in Las Vegas Introduction. The following table ranks the Las Vegas casinos according to the looseness of their video display reeled nickel slot machines. The returns are based on a sampling of five different types of machines. The data collected goes back as far as October 2001 so the information is a bit dated.
When statistical types use the word odds they mean the probability that an event will occur divided by the probability that an event will not occur, that is, odds = p/(1-p).However, in everyday conversation, people can use the word odds with a slightlydifferent but related meaning. In ordinary conversation people often mean Las Vegasor gambling odds. So you will hear terms like 3to1 or 3to2. You may also hear people talk about these matters in terms of chance, as in, the chance is 3in4 or 3in5. So what dopeople mean when they say odds are 3to1 or the chance is 3in4?
Consider a probability of .5 (1/2 = .5) which is equivalent to the statistical odds of 1(.5/(1-.5) = .5/.5 =1). In Las Vegas odds this would be given as 1to1, that is, one chance for to one chance against. When expressed as chance, it would be 1in2, that is, one chance in 2 of winning.
Now when a gambler says that the odds are 3to1, they mean that there are 3 chancesto win to 1 chance to lose. Alternatively, the gambler express this as the chance is 3in4,that is, 3 chances to win in 4 total chances.What they really mean is that theprobability is .75 (3/4 = .75) or that the statistical odds are 3 (odds = .75/(1-.75) = .75/.25 = 3).
Odds In Vegas Election
You will also see Las Vegasodds of 3to2 (which is equivalent to 1.5to1, but you will never see it written this way). Oddsof 3to2 is just another way of saying that there are 3 chances of winning to 2 chances of losing.The gambler may also express odds of 3to2 as a chance of 3in5, that is, 3 chances to win in5 total chances. Whether given as odds of 3to2 or chance of 3in5 the statistical probability is .6 (3/5 = .6) and the statistical odds are 1.5 (odds = .6/(1-.6) = .6/.4 = 1.5).
The table below gives the Las Vegas (gambling) odds, chance, statistical odds and probability fora number of different combinations.