I got this off a math page. "Considers history"? Does that sound right? >>>
Simply put, "chance" relates to the likelihood of a future event WITH NO HISTORY considered. "Odds", on the other hand, CONSIDERS HISTORY. "Chance" is expressed as a percentage translation of the ratio of a particular outcome versus all possible outcomes.
"Odds" are expressed as a ratio WITHOUT a percentage translation. For example, if a (fair) coin is tossed 3 times and all three tosses land on heads, the PROBABILITY (odds) of the next toss coming up heads is only 1 of 16. The "CHANCE", on the other hand, never changes and is 50% on EVERY toss.
Linkback: http://www.rouletteforum.cc/index.php?topic=15677.0
Simply put, "chance" relates to the likelihood of a future event WITH NO HISTORY considered. "Odds", on the other hand, CONSIDERS HISTORY. "Chance" is expressed as a percentage translation of the ratio of a particular outcome versus all possible outcomes.
"Odds" are expressed as a ratio WITHOUT a percentage translation. For example, if a (fair) coin is tossed 3 times and all three tosses land on heads, the PROBABILITY (odds) of the next toss coming up heads is only 1 of 16. The "CHANCE", on the other hand, never changes and is 50% on EVERY toss.
Linkback: http://www.rouletteforum.cc/index.php?topic=15677.0