[FONT="]He asked me what 11:4 meant. I started by explaining that Denver, at 3:1, had 1 chance in 3 of winning the Super Bowl. He asked if Seattle then had 4 chances in 11?[/FONT]

[FONT="]That didn’t seem right. Then I realized that 3:1 really means 1 chance in 4 (not 3). If you get 3:1 odds, you risk $1 to win $3. If you bet that way 4 times, you should break even, winning once (+$3) and losing 3 times (-$3). Is that right?[/FONT]

[FONT="]I explained that to him and suggested that we normalize the odds so that they are all relative to 1. 11:4 becomes 2.75:1 and 13:2 becomes 6.5:1. So far so good?[/FONT]

[FONT="]Then I suggested that we convert everything to percentages. Denver’s 3:1 becomes 25%. Seattle’s 11:4 becomes 26.67%. The formula is 1/(N+1) where N is the normalized odds.[/FONT]

[FONT="]Here’s the whole table:[/FONT]

Code:

```
Team Conf Odds :1 %
Seattle NFC 11:4 2.75 26.67
Denver AFC 3:1 3.00 25.00
San Francisco NFC 13:2 6.50 13.33
Carolina NFC 10:1 10.00 9.09
New England AFC 10:1 10.00 9.09
Cincinnati AFC 16:1 16.00 5.88
Philadelphia NFC 18:1 18.00 5.26
New Orleans NFC 20:1 20.00 4.76
Kansas City AFC 20:1 20.00 4.76
Green Bay NFC 28:1 28.00 3.45
Indianapolis AFC 28:1 28.00 3.45
San Diego AFC 75:1 75.00 1.32
```

[FONT="]So, how did I do? Have I screwed this little guy up for life? He seems to have a good strong interest, so I want to make sure I give him good information.

[/FONT]