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If a race horse runs 100 races and wins 25 times and loses the other 75 times, the probability of winning is 25/100 = 0.25 or 25%, but the odds of the horse winning are 25/75 = 0.333 or 1 win to 3 loses.
The Difference Between "Probability" and "Odds" - sph.bu.edu
sphweb.bumc.bu.edu : mph-modules : BS704_Confidence_Intervals10
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To convert from odds to a probability, divide the odds by one plus the odds. So to convert odds of 1/9 to a probability, divide 1/9 by 10/9 to obtain the probability of 0.10.
What is the difference between odds and probability? - FAQ 1466
graphpad : support : faq : probability-vs-odds
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