¿Can odds be infinite?

The concept of odds is widely used in betting and gambling; it is less intuitive than the concept of risk. The value of both measures (RR and OR) may range anywhere between zero and infinity.

Can odds be infinity?

The transformation from probability to odds is a monotonic transformation, meaning the odds increase as the probability increases or vice versa. Probability ranges from 0 and 1. Odds range from 0 and positive infinity.

Can odds be over 100%?

A probability must lie between 0 and 1 (you cannot have more than a 100% chance of something). Odds are not so constrained. Odds can take any positive value (e.g. a ⅔ probability is the same as odds of 2/1).

Can odds be above 1?

An odds ratio greater than 1 indicates that the condition or event is more likely to occur in the first group. And an odds ratio less than 1 indicates that the condition or event is less likely to occur in the first group.

Can the odds ratio be zero?

As odds of an event are always positive, the odds ratio is always positive and ranges from zero to very large. The relative risk is a ratio of probabilities of the event occurring in all exposed individuals versus the event occurring in all non-exposed individuals.

Origin: Probability of a Single Protein Forming by Chance

Are the odds ever zero?

Answer: Yes, probability can be 0, indicating an event has no chance of occurring. An example of an event with a probability of 0 is flipping a fair coin and it landing both heads and tails simultaneously, an outcome that is theoretically impossible in the context of standard probability models.

Can odds ratio be over 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.

What is the maximum odds ratio?

The range of an odds ratio can be any positive value greater than zero. There is no theoretical upper limit to the value of an odds ratio, though in practice the values can become quite large.

Are odds always correct?

Moreover, the odds displayed by different bookmakers can vary significantly, meaning that the odds displayed by a bookmaker are not always correct. It is not only important to back winners, but one must do so when the odds accurately reflect the chance of winning.

What is a huge odds ratio?

An odds ratio of 4 or more is pretty strong and not likely to be able to be explained away by some unmeasured variables. An odds ratio bigger than 2 and less than 4 is possibly important and should be looked at very carefully.

What if odds are 10000?

+10000 ODDS DEFINITION

If you were to bet $10 on +10000 odds you would receive $1000.00 in profit if this outcome won.

Can probability ever be 100%?

Between impossible and for certain, the probability will be somewhere between zero and 100%.

Do you lose money on negative odds?

The negative number shows how much has to be risked to win a $100 payout. Thus, if the money line for the team that you picked was -400, it means that if you placed a successful $400 bet, you would gain $100 on payout. This means that the bettor would have risked $400 and ultimately gained $100.

Can probability be infinite?

One of the more elegant ways to express this in my opinion is to use that P(N) is a σ− Algebra. Well, if you mean taking the amount of possible outcomes to be infinite, then yes, probability will still exist.

Can there be a limit at infinity?

(The word "infinity" literally means without end.) If the limit is +∞, then the function increases without end. If the limit is −∞, it decreases without end. We say a limit is equal to ±∞ just to indicate this increase or decrease, which is more information than we would get if we simply said the limit doesn't exist.

Can infinity be even or odd?

In math, infinity is often treated as a number in that it can be used to count or measure things, but it is not considered a natural or a real number. Nothing is bigger than infinity, and infinity is neither odd nor even.

How often is Vegas correct?

Essentially, this means that, on average, Vegas is within 2.2 wins in either direction of their projected win line total. This is accurate in the sense that it's close, but it's not accurate in the traditional sense. After all, Vegas has been off as much as 8.5 wins for a single win total line.

Do fixed odds exist?

We can also ask someone who is already betting on that site of that site is legitimate or not. There are no reliable fixed match websites, simple as that. All websites that offer fixed matches are scams, without exception. Real fixed match information is never ever available to the public.

How accurate are bookies' odds?

According to leading gambling expert Professor Leighton Vaughan Williams of the Betting Research Unit at Nottingham Trent University, comparisons with actual results show that odds shorter than around 2-1 do tend to be reasonably accurate.

Can odds ratio be infinite?

The Odds Ratio takes values from zero to positive infinity. If it equals 1, it means that the exposure and the event are not associated, if it is less than 1, it means that the exposure prevents the event, and if it is bigger than 1, it means that the exposure is the cause of the event.

Why use odds instead of probability?

Calculating odds can be beneficial in professions that involve making predictions regularly, such as in stocks or other types of investing, as they can quickly show how likely an event is to happen by determining whether the number of desired or unwanted outcomes is larger.

What's a good odds ratio?

Odds ratios typically are reported in a table with 95% CIs. If the 95% CI for an odds ratio does not include 1.0, then the odds ratio is considered to be statistically significant at the 5% level.

How large can an odds ratio be?

Odds Ratio (OR)

The range of OR is from 0 to infinity: A value of 1 = no association with the specified risk (that is, the event or disease is equally likely in the high- and low-risk groups); as the value of OR increases or decreases away from 1, the association grows increasingly stronger.

Are odds ratios misleading?

Thus interpreting an odds ratio as though it were a relative risk could mislead us into believing that an effect size is bigger than is actually the case. Crucially, however, large discrepancies are seen for only large effect sizes. Suppose an odds ratio of, say, 0.2 reflects a true relative risk of 0.4.

Can you have probability over 100%?

Point 2: The percentage that expresses our uncertainty about an event can never be more than 100. Although people say things like "I am 110% sure of this" that is nothing more than a figure of speech.