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the odds or amounts the bookmaker will pay are determined by the total amount that has been bet on all of the possible events. 7% less for draws. wholesale odds are the "real odds" or 100% probability of an event occurring. analogously, given odds as a ratio, the probability of success or failure can be computed by dividing, and the probability of success and probability of failure sum to unity (one), as they are the only possible outcomes. there are 2 out of 15 chances in favour of blue, 13 out of 15 against blue. in probability theory and statistics, odds and similar ratios may be more natural or more convenient than probabilities.

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