Each year, experts at Gold Derby use their mathematical minds to determine the odds of each nominee winning. For the less gambling inclined, “odds” are simply the chance of a certain outcome in an event.
Though each outcome has a possibility of occurring, we all know that La La Land is more likely to win Best Picture than Hell or High Water. Hence, La La Land has higher odds. Lower odds have a higher profit return, but are less likely to win. So, let’s say the odds are 50:1. That means for every “dollar” you put in, you’d get 50 back.