Odds
A way of stating a probability. '1 in 292 million' means one winning outcome among 292 million equally likely ones. Betting odds such as '10 to 1' compare losing outcomes with winning ones instead.
In plain English
'1 in N' and a percentage say the same thing: 1 in 4 is 25%, 1 in 1,000 is 0.1%. Betting odds count differently: '3 to 1 against' means 3 ways to lose for every 1 way to win, so a 1 in 4 chance. Tiny odds are easier to feel as time or scale: how long would it take to try every possibility?
Uncle Gary explains
One Powerball ticket wins the jackpot with odds of 1 in 292,201,338. Buying one ticket per second, covering every combination would take more than 9 years.
Why it matters for your money
Long-shot bets in markets work like lottery tickets: a small chance of a huge payoff tends to feel more likely than it is.
Where we tested it
- What Are the Odds of Winning the Lottery? And Does It Have a Pattern?
- What Are the Odds of Being Struck by Lightning? And Does It Strike Twice?
Related terms
All glossary terms. Educational content, not financial advice.