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Chance is the likelihood that a particular outcome for an event will occur. Odds are the ratio of the probability of an event occurring to the probability of it not occurring. Calculate odds for winning or odds against winning as a percent.
The odds are the chances that something will happen. If you flip a coin, the odds are 50-50 you'll get heads. When we talk about odds, we're talking about probabilities, specifically, how likely it is that something will happen. Is there a 5% chance?