The odds of success is the probability of success divided by the probability
of failure.

Example: Our engine factory produces 85% good engines, 15% faulty engines.
The odds of the next engine being good are

0.85/0.15 or 5.7/1 (or 5.7 to 1)

Sporting and gambling events are often characterized by odds (or other measures
of probability such as the ‘point spread’ in football).

**Next : Risk **
**Previous : Probability of Either of Two Events **