Which betting term is commonly used to express the ratio of favorable outcomes to unfavorable outcomes?

• A. Probability
• B. Risk
• C. Odds
• D. Likelihood

Answer: (C)

Odds express the ratio of favorable outcomes to unfavorable outcomes. For example, on a six‑sided die, if you win only by rolling a 6, there is 1 favorable outcome and 5 unfavorable ones, so the odds in favor are 1 to 5. This differs from probability, which would be 1 out of 6 (a fraction). Odds focus on the balance between wins and losses, not just the share of all outcomes that are wins. In betting terms, odds are used to show that ratio and to imply potential payout, which hinges on that same favorable-to-unfavorable relationship.