secondly:

if i have the following prices on teams A,B,C and D:

A 1.70

B 3.00

C 8.50

D. 16.00

then are the gambling odds expressed as :

A -> "7 to 10"

B -> "2 to 7"

C -> "15 to 2"

D -> "15 to 1"

And subjective probability that team "B" wins is about 30.3%?

??

Thnx.