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Re:Tomorrow’s world: A guide to the next 150 years by netcan on Thursday January 31, 2013 @09:39AM (#5145153)
In UK gambling conventions, 8/1 means you win £8 on a £1 bet. So 12.5% chance, if the bookie is a non profit.
Re:Tomorrow’s world: A guide to the next 150 years by mmahemoff on Thursday January 31, 2013 @09:46AM (#5145180)
Close :). You receive £9 on a £1 bet (you get your outlay back), so it's 1/9 ~ 11.1%

http://www.isfa.com/odds-probability-chart.php

Re:Tomorrow’s world: A guide to the next 150 years by netcan on Thursday January 31, 2013 @10:40AM (#5145430)
you're right. oops.