London Mayoral Election 2024

[The39thStep]

What kind of odds are 1/100? Do they mean 100/1 as that can’t be right?

Put a £100 down and if he wins you get £101 back

 

[Monkeygrinder's Organ]

What kind of odds are 1/100? Do they mean 100/1 as that can’t be right?

It's a hundred to one on - ie if you put on a hundred quid you'll get a hundred and one back if he wins.

 

[Orang Utan]

it means for every hundred pounds bet you would win a pound back. so khan has been really heavily backed

Ah, i see. Not seen that before. Mind you, betting odds seem to be expressed in a variety of confusing ways these days.

 

[Pickman's model]

Ah, i see. Not seen that before. Mind you, betting odds seem to be expressed in a variety of confusing ways these days.

if you think about the first number expressing the pounds won per pounds bet (the second number) you won't go wrong. so eg 3/1 would see you win £3 for every pount, 1/3 would see you win £1 for every £3 put down.

 

[Serge Forward]

In other words, not worth a punt. But if Binface wins, it's 1000/1 so worth a quid for a potential grand return

 

[Orang Utan]

I think I only pay attention to odds when the Grand National is on and it would be unusual for a horse in that race to have such odds as 1/100.
I have also seen odds like 463, -242 and 4.8 with no / fractions, which is even more confusing but I’m guessing there are now other ways of expressing odds.

 

[skyscraper101]

Voted this morning



Sadly no dogs outside my polling station. There were barely any people tbh. Like three people max.

 

[The39thStep]

Paddy Power now offering 1/80

 

[Cloo]

I noticed last night I was getting Susan Hall ads while watching Youtube, one of which started with 'Sadiq Khan's obsession with ULEZ....' which just made me think 'The only people "obsessed" with ULEZ is you fucking lot'

 

[Puddy_Tat]

Ah, i see. Not seen that before. Mind you, betting odds seem to be expressed in a variety of confusing ways these days.

otherwise 'odds on' which doesn't happen all that often

 

[Pickman's model]

Voted this morning

View attachment 422814

Sadly no dogs outside my polling station. There were barely any people tbh. Like three people max.

you've spelt spunking cock wrong

 

[brogdale]

Was just about to go into Sainbury's for my Bishops & other essentials and this vermin postered Landrover Defender came past with someone on a megaphone screeching on about voting tactically to "get Khan out". There are times when I do feel a long way from London.

 

[Bingoman]

Have cast my votes.

If you're watching results for London and see a bloke hanging about on stage who looks like me but with short grey hair, that's my brother who is Deputy Returning Officer, and also the man responsible for pissing off Lawrence Fox by emailing him to tell him he hadn't done his application to stand for mayor properly.

Well done that man

 

[hash tag]

Also under London threads

Next London Mayor

I know the election is not until May 2016, but for me, it can't come soon enough. So the race is certainly starting to warm up. I see Diane Abbott is talking about it as is Sadiq Khan and now Tessa Jowell. Then there is the incomer Michael Bloomberg or from the other side of the fence Lord Coe...

www.urban75.net

 

[Orang Utan]

Also under London threads

Next London Mayor

I know the election is not until May 2016, but for me, it can't come soon enough. So the race is certainly starting to warm up. I see Diane Abbott is talking about it as is Sadiq Khan and now Tessa Jowell. Then there is the incomer Michael Bloomberg or from the other side of the fence Lord Coe...

www.urban75.net

What’s with the snidey rolleyes?

 

[hash tag]

What’s with the snidey rolleyes?

who's asking?

 

[Orang Utan]

who's asking?

what? Eh? Me of course

 

[hash tag]

what? Eh? Me of course

Thats ok then.

 

[Orang Utan]

Thats ok then.

Wanker

 

[shifting gears]

I think I only pay attention to odds when the Grand National is on and it would be unusual for a horse in that race to have such odds as 1/100.
I have also seen odds like 463, -242 and 4.8 with no / fractions, which is even more confusing but I’m guessing there are now other ways of expressing odds.

Decimal odds are clearer but don’t really see them in bookies odds

3/1 is 4.0 in decimal odds

7/2 is 4.5

1/100 is 1.01

Etc

 

[Orang Utan]

Decimal odds are clearer but don’t really see them in bookies odds

3/1 is 4.0 in decimal odds

7/2 is 4.5

1/100 is 1.01

Etc

That’s not clearer! At all!

 

[littlebabyjesus]

Decimal odds are clearer but don’t really see them in bookies odds

3/1 is 4.0 in decimal odds

7/2 is 4.5

1/100 is 1.01

Etc

I think that's clearer if you're betting and want to know how much you'll win, but I don't think they give a clear idea of the probability.

For me, the clearest way to express a probability is to use a number between 0 (definitely won't happen) and 1 (will definitely happen). That's probably because it's the most useful way to do it in maths, though. (If you prefer, you can multiply the number by 100 and express it as a percentage chance. )

 

[Spymaster]

That’s not clearer! At all!

Right. It's like someone's taken something relatively simple and tried to confuse the fuck out of everyone.

 

[littlebabyjesus]

Right. It's like someone's taken something relatively simple and tried to confuse the fuck out of everyone.

It tells you how much money you will receive back (including your stake) if you place a one unit bet and win. I can see how that would be useful for betting types.

100/1 isn't a round-number probability, though. It's roughly .99 or 99% but not exactly. It means you have a 100/101 probability of winning, which equals 0.990099..., or approximately 99.01%.

HTH

 

[Orang Utan]

I think that's clearer if you're betting and want to know how much you'll win, but I don't think they give a clear idea of the probability.

For me, the clearest way to express a probability is to use a number between 0 (definitely won't happen) and 1 (will definitely happen). That's probably because it's the most useful way to do it in maths, though. (If you prefer, you can multiply the number by 100 and express it as a percentage chance. )

Betting odds don’t indicate probability though. They just indicate what a bookie is willing to pay out.

 

[shifting gears]

I think that's clearer if you're betting and want to know how much you'll win, but I don't think they give a clear idea of the probability.

For me, the clearest way to express a probability is to use a number between 0 (definitely won't happen) and 1 (will definitely happen). That's probably because it's the most useful way to do it in maths, though. (If you prefer, you can multiply the number by 100 and express it as a percentage chance. )

To find the percentage probability you just diviide 100 by the decimal odd

7/2 or 4.5 = 22% chance

12/1 or 13.0 = 7.6% chance

1/100 or 1.01 = 99% chance

 

[shifting gears]

Betting odds don’t indicate probability though. They just indicate what a bookie is willing to pay out.

Correct, this accounts for bookies margin or “overround”

 

[Orang Utan]

Right. It's like someone's taken something relatively simple and tried to confuse the fuck out of everyone.

I also don’t understand how 4.0 is the same as 3/1. Wouldn’t it be 3.0?
Glad I’m not a betting man as thinking about this is making my head explode

 

[shifting gears]

I also don’t understand how 4.0 is the same as 3/1. Wouldn’t it be 3.0?
Glad I’m not a betting man as thinking about this is making my head explode

Nope, the formula is always divide the first number by the second, then add 1

 

[Orang Utan]

Nope, the formula is always divide the first number by the second, then add 1

????