Comment by cubefox

In many cases, odds are indeed better than probabilities, namely when a small difference at the probability edges indicate a large real difference.

But sometimes small differences at the edges are indeed small, particularly for expected values. Say you win 100 dollars with 98% probability vs with 99.9% probability.

The expected value (probability * dollars) of the latter is only slightly higher than the former ($99.9-$98=$1.90) even though the difference in odds is very large: (0.999/0.001)/(0.98/0.02)≈20.39. So the 99.9% probability is odds 999 to 1, 98% probability is 49 to 1, so the former has more than 20 times higher odds, but the expected amount of money you win is almost the same.