2 to 1 Odds means that there are 2 chances of one outcome and 1 chances of a different outcome.
We will call these different outcomes A and B. Thus, there are 2 A's and 1 B's in 2 to 1 Odds.
2 to 1 Odds can be written as a ratio of 2/1. 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 2 to 1 Odds numbers into the formulas, we get:
(2/(2+1))*100 = 66.67%
(1/(2+1))*100 = 33.33%
Therefore, 2 to 1 Odds converts to the following Probabilities:
66.67% Probability of A
33.33% Probability of B
So instead of saying 2 to 1 Odds, you could say that there is a 66.67% Probability.

