What is ‘Odds’ and How is it Different from ‘Chance’?

“Odds” and “chance” both relate to the likelihood of an event happening, but they differ in expression. “Chance” is the probability of an event occurring, usually shown as a percentage (e.g., 25%). “Odds” compare the possibility of an event happening to it not happening, expressed as a ratio (e.g., 1:3). For example, if the chance