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to shorten the odds/lengthen the odds

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Yilaner

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Apr 28, 2015, 2:37:57 AM4/28/15
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As an non-native English speaker, I find it hard wrap my head around the meaing of the phrase "to shorten the odds/lengthen the odds." Can anyone please explain its origin?

Athel Cornish-Bowden

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Apr 28, 2015, 3:55:26 AM4/28/15
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If we have any racing experts here they can correct me if necessary,
but I think if a horse is three-to-one favourite those are short odds;
if it's a 100-to-one outsider those are long odds, because 100 is
"longer" than 3.

--
athel

Peter T. Daniels

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Apr 28, 2015, 9:07:35 AM4/28/15
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Hence "shortening the odds" means doing something to make it more likely that
your horse will win (it will probably be illegal).

Outside of horse racing, you might shorten the metaphorical odds of doing well
on a test by studying harder, for instance.

Derek Turner

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Apr 28, 2015, 9:12:27 AM4/28/15
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In mathematical terms, 'odds' are the inverse of probability. Thus a 5%
probability (p=0.05) can be expressed as 9-1 against. The higher (longer)
the odds against something happening the LESS likely it is to happen.
Just to confuse matters, a 50-50 chance is called 'evens'. The origin is
betting e.g. racing, cards, cricket. Using odds makes calculating
winnings much easier. Odds are often written as if they were fractions,
which they are not e.g. 9/1, 100/30

If a thing is more likely than not to happen then it is 'odds on' rather
than 'odds against'. For example a horse may begin a race at '4 to 1 on'
written 1/4: it is considered 4 times likely to win as not and so you
have to wager £4 to win £1 (plus your stake back, of course). These are
short odds.

To summarise, long odds are greater than evens and short odds less than
evens. To lengthen the odds is to make it less likely, to shorten them is
to make it more likely. Hope that helps.

Peter T. Daniels

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Apr 28, 2015, 9:57:45 AM4/28/15
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That-all seems to be strictly British. We had a fairly long thread on the
terminology of British bookmaking a while ago.

Guy Barry

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Apr 28, 2015, 2:39:28 PM4/28/15
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"Derek Turner" wrote in message news:cq9f9o...@mid.individual.net...
>
>On Mon, 27 Apr 2015 23:37:54 -0700, Yilaner wrote:
>
>> As an non-native English speaker, I find it hard wrap my head around the
>> meaing of the phrase "to shorten the odds/lengthen the odds." Can anyone
>> please explain its origin?
>
>In mathematical terms, 'odds' are the inverse of probability. Thus a 5%
>probability (p=0.05) can be expressed as 9-1 against.

19-1 against, I think.

--
Guy Barry

Derek Turner

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Apr 28, 2015, 4:34:37 PM4/28/15
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On Tue, 28 Apr 2015 19:39:37 +0100, Guy Barry wrote:

> 19-1 against, I think.

Not sure if that was a typo or a thinko!

Derek Turner

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Apr 28, 2015, 4:35:31 PM4/28/15
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On Tue, 28 Apr 2015 06:57:42 -0700, Peter T. Daniels wrote:

> That-all seems to be strictly British.

Well yes, we did invent it after all. :)

Peter T. Daniels

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Apr 28, 2015, 11:09:32 PM4/28/15
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Betting??

James Hogg

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Apr 29, 2015, 1:36:06 AM4/29/15
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That was Pascal, wasn't it?

--
James
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