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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0solve for $p$ in $p/(1-p)=2/1$ – 2012-05-17
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0Assuming that $p$ are the odds of winning, you need to solve $\frac{1-p}{p} = \frac{2}{1}$. This gives $p=\frac{1}{3}$. – 2012-05-17
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0Are these the odds quoted by a bookmaker, or is it a mathematical expression of a known probability? [Bookmakers tend to want to make profits] – 2012-05-17
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0@copper.hat Care to promote that to an answer? This question shouldn't clutter the unanswered queue any longer. – 2013-06-06
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0@Lord_Farin: Good suggestion! Thanks. – 2013-06-06