I hate to be a nitpicky little b*stard, but "probability" and "odds" aren't the same thing.
"Probability" for event A means
where
is the number of total possible outcomes, and
is the number of outcomes that result in event A.
"Odds" for event A means
where
is the number of outcomes that result in event A, and
is the number of outcomes that don't result in event A.
So the probability of flipping heads in 1 flip is 1/2, or 50%. The odds of flipping heads in the same situation are 1:1.
"Probability" for event A means
"Odds" for event A means
So the probability of flipping heads in 1 flip is 1/2, or 50%. The odds of flipping heads in the same situation are 1:1.
