both are different ways to numerically represent uncertainty. Uncertainty can also be represented in Odds Ratio

𝐏(𝑋)

𝐎(𝑋)

the number of ways that an outcome can occur+the number of ways it cannot occur = the whole number of cases possible

the ratio of the number of ways that an outcome can occur compared to the whole number of cases possible

probability=the number of ways that an outcome can occur /the whole number of cases possible

probability = odds / (1 + odds)

the ratio of the number of ways that an outcome can occur compared tothe number of ways it cannot occur

odds =the number of ways that an outcome can occur /the number of ways it cannot occur

odds = probability / (1 - probability)

1/5 = 𝐏(𝑋) ≈ 𝐎(𝑋) = 1/4 ≈ 1:4 = Odds Ratio

ranges between an interval of [0,1]

ranges between an interval between [0, infinity)