Hi Christopher.
We first need to convert the odds to a decimal.
5:2 becomes 5/2 = 2.5
Wager times odds expressed as a decimal equals profit
46 (2.5) = 115
Christopher H.
asked • 02/05/16Probability and Statistics Help!
The Las Vegas odds on the Denver Broncos winning the 1998 Super Bowl were 5 to 2. If a gambler had bet $46 on the Broncos, how much would the gambler have won in addition to having the wager returned when the Broncos went on to win it?
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