odds 

the preferred terminology and probability calculation method of H. B. Newcombe refers to the likelihood of various outcomes;
o. are expressed as a ratio of selected to unselected,
e.g., 32 to 1, whereas probability varies from 0 to 1 and is the ratio of selected to total,
e.g. 32/33 = 0.970;
o. are the probability divided by the complement of the probability, hence, probability is the odds divided by the quantity odds plus one.
(cf. frequency ratio, relative odds,
absolute odds) [cf. Newcombe, 1988, p. 105;
Ch. 4, §1] 