New York Yankees Odds to Win the World Series - 1 views
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Matthew Leingang on 11 Jul 09Very interesting. Remember that to convert a:b odds (against, which is what the folks laying the bets will give) to probabiilty you take p=b/(a+b). This site lists the Yankees as 2:1 to win the American League, so if you think the probability is greater than 1/3 you should take the bet (theoretically speaking; please obey all applicable laws!). The Red Sox are 7:4, giving p=4/11.