MBA 22-24

India vs NZ OPTS501 IMD

Suresh Venkatraman

• Virat Kohli enjoyed solid knocks of 60, 43 and

45 in that series and has 441 runs in this
competition, including scores of 77 and 72 at
Old Trafford, against Pakistan and the West
Indies respectively.
• Looking at the India vs New Zealand odds,
we’re taking 9/4 for the inspirational skipper
to lead the way for his team here.”

https://sports.bwin.com/en/news/other-sports/cricket/india-vs-
new-zealand-prediction

Sunday, September 4, 2022 OPTS501IMD_M3_L5 What are Odds 1 of 6

 MBA 22-24

India vs NZ OPTS501 IMD

Suresh Venkatraman

• Kane Williamson effectively carried the

Kiwis through to the last four, hitting 481
from seven innings, 220 more than the
next best New Zealand player in Russ
Taylor.
• The captain is 2/1 to top score for the
Black Caps again and that completes our
India vs New Zealand betting tips.
• https://sports.bwin.com/en/news/other-
sports/cricket/india-vs-new-zealand-prediction

Sunday, September 4, 2022 OPTS501IMD_M3_L5 What are Odds 2 of 6

 MBA 22-24

Weird ratios OPTS501 IMD

Suresh Venkatraman

• 9/4
• 2/1
• These are ODDS ratios.
• It is a different way of expressing
probability.
• But as MBAs, we are bilingual.
• We can translate both ways!
• If you Bet $ 9 on Kohli, and he succeeds,
you get $ 4 in addition to your $ 9
Sunday, September 4, 2022 OPTS501IMD_M3_L5 What are Odds 3 of 6
 Converting an odds MBA 22-24
OPTS501 IMD

ratio to a probability:
Suresh Venkatraman

• Given odds for event A occurring of “a to b,” the probability of A

is: a/ (a + b)
• Given odds against event A occurring of “a to b,” the probability
of A is: b / (a + b)
Given odds for event A occurring of “9 to 4,”
the probability of A is: 9/ (9 + 4) = 9/13
Given odds against event A occurring of “4 to 9,”
the probability of A is: 9 / (4 + 9) = 9/13

Sunday, September 4, 2022 OPTS501IMD_M3_L5 What are Odds 4 of 6

 Converting a probability MBA 22-24
OPTS501 IMD

to an odds ratio: Suresh Venkatraman

• The odds for event A occurring is equal to p(A)/ [ 1 – p(A) ]

• The odds against event A occurring is equal to [ 1 – p(A) ]/ p(A)

• We know the probability of getting

a Six with single dice is 1/6
• The odds for getting a Six is equal
to (1/6) / [1 – (1/6)] = 1:5
• The odds against getting a Six is
equal to [1 – (1/6)] / (1/6) = 5:1

Sunday, September 4, 2022 OPTS501IMD_M3_L5 What are Odds 5 of 6

 MBA 22-24

Making sense of odds OPTS501 IMD

Suresh Venkatraman

“We are taking 9/4 for the inspirational skipper to

lead the way for his team here”
There is a 9/13 chance that among the India
batsmen, Virat Kohli will be the highest scorer.
“The captain is 2/1 to top score for the Black Caps
again..”
There is a 2/3 chance that that among the NZ
batsmen, Kane Williamson will be the highest
scorer.
Sunday, September 4, 2022 OPTS501IMD_M3_L5 What are Odds 6 of 6