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Considers History?

Discussion in 'Miscellaneous Gambling Forum' started by mr j, Jun 14, 2015.

  1. mr j

    mr j Well-Known Member

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    I got this off a math page. "Considers history"? Does that sound right? >>>

    Simply put, "chance" relates to the likelyhood of a future event WITH NO HISTORY considered. "Odds", on the other hand, CONSIDERS HISTORY. "Chance" is expressed as a percentage translation of the ratio of a particular outcome versus all possible outcomes.


    "Odds" are expressed as a ratio WITHOUT a percentage translation. For example, if a (fair) coin is tossed 3 times and all three tosses land on heads, the PROBABILITY (odds) of the next toss coming up heads is only 1 of 16. The "CHANCE", on the other hand, never changes and is 50% on EVERY toss.
     
    mr j, Jun 14, 2015
    #1

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