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When you see the odds presented as 30:1 or 3:1 that's actually just showing the payout for a winning bet, not the likelihood of that team winning. 30:1 doesn't mean that the team is 30x more likely to win, it means that if you bet on that team and they win you will receive $30 for every dollar you bet.
How do sports odds work? Usually 30:1 odds are better than 3 ... - Quora
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What does odds of 22/1 mean? If you were to betR$10 on 22/1 odds you would receiveR$220.00 in profit if this outcome won. The implied win probability of 22/1 odds is 4.35%. If you'd like to see the implied win probability of other odds values you can check our Moneyline Converter.
22/1 Definition: What do odds of 22/1 mean? - Wagering Terms
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