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31 July, 05:53

Suppose you are playing a game of chance. If you bet $2 on a certain event, you will collect $92 (including your $2 bet), if you win. FInd the odds used for determining the payoff

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  1. 31 July, 06:04
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    Even odds 1/1 would be collecting $5 back, so you get 10/5 and you calculate the odds from (10 - 5) / 5. So 11/5 back is (11 - 5) / 5 = 110/5 = 22/1 odds.
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