5 to 3 Odds means that there are 5 chances of one outcome and 3 chances of a different outcome.
We will call these different outcomes A and B. Thus, there are 5 A's and 3 B's in 5 to 3 Odds.
5 to 3 Odds can be written as a ratio of 5/3. 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 5 to 3 Odds numbers into the formulas, we get:
(5/(5+3))*100 = 62.50%
(3/(5+3))*100 = 37.50%
Therefore, 5 to 3 Odds converts to the following Probabilities:
62.50% Probability of A
37.50% Probability of B
So instead of saying 5 to 3 Odds, you could say that there is a 62.50% Probability.

