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The Stats Geek: Interpreting Odds and Odds Ratios
This article by a statistician explains the difference between probability and odds, the use of fractional odds in a gambling context, how odds ratios are used, and why they are used instead of risk/probability ratios.
Curated OER
Ny Times: Probability and Behavior in Gambling Lesson
In this lesson, students will explore the mathematical probabilities involved in gambling and how these factors affect people's behavior.