it is the number of times an outcome can occur compared to all possible outcomes
Outcome (probability) In probability theory, an outcome is a possible result of an experiment.[1] Each possible outcome of a particular experiment is unique, and different outcomes are mutually exclusive (only one outcome will occur on each trial of the experiment). All of the possible outcomes of an experiment form the elements of a sample space.[2]
Odds In gambling, odds represent the ratio between the amounts staked by parties to a wager or bet.[3] Thus, odds of 6 to 1 mean the first party (normally a bookmaker) stakes six times the amount staked by the second party.