Odds is the term used to describe the chances a person placing a bet has of winning. There are odds for and odds against.

The knowledge of odds is mostly used in gambling.

**Formula to calculate odds.**

To calculate odds, we divide the probability of the event by the probability of the non-event.

**Example:**

Calculate the odds of picking a blue ball from five balls.

The probability of an event is when one blue ball is taken from the other five. So the probability will be;

The probability of a non event will be when he picks the other balls that ain’t blue.

Therefore, the odds of picking a blue ball will be;

Therefore, the odds of picking a blue ball from 5 is 0.25. You can either give your answer as a fraction or a decimal.