The probability $P$ of an event is 0.5, which means the event has a 50% chance of occurring.

To convert probability into odds, the formula is:

$\text{Odds} = \frac{P}{1 - P}$

In your case:

$\text{Odds} = \frac{0.5}{1 - 0.5} = \frac{0.5}{0.5} = 1$

Thus, the odds of the event occurring are 1:1, which means the event is equally likely to occur or not occur.

Would you like more details or have any questions?

Here are 5 related questions to explore:

1. How do odds change when probability is above 0.5?
2. What are the odds when the probability is 0.25?
3. How are odds different from probability in interpretation?
4. How do you convert odds back to probability?
5. What is the role of odds in betting and risk assessment?

Tip: The closer the probability is to 1, the more favorable the odds for the event to occur.