Taking bets on there being a Cody Miller apartment. (Destiny)

by Cody Miller , Music of the Spheres - Never Forgot, Tuesday, August 18, 2015, 17:10 (3622 days ago) @ Funkmon

Did I do odds right?

5:1 means that if you bet a dollar, you get 5 back if you win.

5:4 means if you bet 4 dollars, you get 5 back if you win.

Your 1:500 example means that if you bet 500 dollars, you get 1 back if you win. Nobody would take that bet.

if it's an even bet with no house edge, take the probability of something occurring. So, at an American roulette table with one 0, then your odds of hitting red are 18/37. So an even bet would be 37:18. But in a casino, it's 36/18 which is 2:1. That's how they make money!