The odds against a horse winning are 2 to 1. What is the probability of this horse winning?
How to find the odds of a horse wining a race?
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probability-theory
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0@Lord_Farin: Good suggestion! Thanks. – 2013-06-06
1 Answers
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Assuming that $p$ are the odds of winning, you need to solve $\frac{1-p}{p} = \frac{2}{1}$. This gives $p=\frac{1}{3}$.