1 to 55 Odds means that there are 1 chances of one outcome and 55 chances of a different outcome.
We will call these different outcomes A and B. Thus, there are 1 A's and 55 B's in 1 to 55 Odds.
1 to 55 Odds can be written as a ratio of 1/55. Instead of a ratio, Probability shows the percent
chance of the outcomes A and B.
The two formulas to convert Odds to Probabilities are as follows
(A/(A+B))*100 = A%
(B/(A+B))*100 = B%
When we plug the 1 to 55 Odds numbers into the formulas, we get:
(1/(1+55))*100 = 1.79%
(55/(1+55))*100 = 98.21%
Therefore, 1 to 55 Odds converts to the following Probabilities:
1.79% Probability of A
98.21% Probability of B
So instead of saying 1 to 55 Odds, you could say that there is a 1.79% Probability.

