If you are given 5 to 3 odds, then for every $3 you bet, you win $5 (assuming you win, that is). So an $18 bet receives $30 winnings.
Lashonda H.
asked • 08/05/19Quantitative reasoning
Tthe odds against your bet are 5 to 3. If you bet$18 how much will you gain
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3 Answers By Expert Tutors
Mark M. answered • 08/07/19
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Mathematics Teacher - NCLB Highly Qualified
odds against means failures / winners
So for every $3 bet you earn $5 if you win.
Can you determine your winnings?
Patrick B. answered • 08/05/19
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(31)
Math and computer tutor/teacher
Odds in favor are 3 to 5
Prob(win) = 3/8
Expected value is 3/8*N - 5/8*18 =
(3N - 90)/8
where N is the prize amount
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