Wager Mage
Photo by Himalaya Karan Pexels Logo Photo: Himalaya Karan

Can odds be greater than 100%?

Odds represent the probability of an event occurring divided by the probability of an event not occurring. Although related, probability and odds are not the same. Probability values can only range from 0 to 1 (0% to 100%), whereas odds can take on any value.

statisticssolutions.com - Odds Ratio - Statistics Solutions
Which is the best site to predict games?
Which is the best site to predict games?

Predictz is a well-known free football prediction website with a global reach. On predictz website you can see predictions for score line of...

Read More »
What is the most mentally draining sport?
What is the most mentally draining sport?

Gymnastics Gymnastics is one of the most physical and most mentally challenging sports in the world. Many people don't realise the amount of...

Read More »

Odds Ratio

Quantitative Results

Odds Ratio (OR) measures the association between an outcome and a treatment/exposure. Or in other words, a comparison of an outcome given two different groups (exposure vs. absence of exposure). OR is a comparison of two odds: the odds of an outcome occurring given a treatment compared to the odds of the outcome occurring without the treatment. Odds represent the probability of an event occurring divided by the probability of an event not occurring. Although related, probability and odds are not the same. Probability values can only range from 0 to 1 (0% to 100%), whereas odds can take on any value. An OR value of 1 indicates no effect on the odds from the exposure to the outcome; of OR values less than 1 indicate that lower odds of the outcome are attributed by the exposure; and of OR values greater than 1 indicated that higher odds of the outcome are attributed by the exposure. OR can be used to assess if a particular treatment is considered a ‘risk factor’ for a particular outcome.

To calculate OR, the frequencies of two dichotomous variables are required.

For example: a study consist 263 participants, where the aim of the study is to assess the OR of having the flu virus given the presence of a diet pill. The two dichotomous variables to be examined are flu virus (yes vs. no) and diet pill consumption (takes regularly vs. does not take regularly). Of the 100 participants: 45 participants have the flu virus and regularly consume diet pills, 86 participants have the flu virus and do not take diet pills regularly, 32 participants do not have the flu virus and take diet pills regularly, and 100 participants do not have the flu virus and do not take diet pills regularly. To calculate the OR, we make sure the numerator and denominator are in the correct location: the numerator of the ratio is the number of participants who have the flu and take diet pills regularly (45) divided by the number of participants who do not have the flu virus and take diet pills regularly (32); and the denominator of the ratio is the number of participants who have the flu and do not take diet pills regularly (86) divided by the number of participants who do not have the flu and do not take diet pills regularly (100). OR = (45/32) / (86/100) = 1.63 Thus, the odds of having the flu are 1.63 higher given the regular consumption of diet pills compared to not taking diet pills regularly.

Is round robin still used?
Is round robin still used?

Round robin is still the most widely used load balancing method, and there are very few alternatives. You can't ensure connecting to the same...

Read More »
Why are 50s cars called bombs?
Why are 50s cars called bombs?

American cars manufactured during the '30s, '40s, and '50s are known as "Bombs" throughout the lexicon of the Lowrider movement. Representing the...

Read More »

Why shouldn't you split the 10s?
Why shouldn't you split the 10s?

If you split the 10s one time, you stand to win 63% and lose 37% on each split hand. That's a significant decrease in the number of hands won...

Read More »
Who is the CEO of SportyBet Nigeria?
Who is the CEO of SportyBet Nigeria?

Sudeep Dalamai Ramnani Founded by Sudeep Dalamai Ramnani in 2013, Sportybet is an international sports betting and real-money gaming operator that...

Read More »
Should I hit on 17 in blackjack?
Should I hit on 17 in blackjack?

If it's good enough for the dealer, it's the same for players … hitting soft 17 is always better than standing. Therefore, one of the golden rules...

Read More »
Do you hit a soft 18 vs a 10?
Do you hit a soft 18 vs a 10?

In shoe-dealt blackjack and double-deck variations, you must always hit your soft 18 when the dealer's exposed card is a 10 or an ace.

Read More »