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For example if one player has 9:4 odds of winning and another has 5:2 that means that out of 13 results the first player will win 9 times or 4 times and out of 7 results the second player will win 5 times or 2 times? Which would then mean 9/13 -or- 4/13 % chance and 5/7 -or- 2/7 % chance respectively?

For example if one player has 9:4 odds of winning and another has 5:2 that means that out of 13 results the first player will win 9 times or 4 times and out of 7 results the second player will win 5 times or 2 times? Which would then mean 9/13 -or- 4/13 % chance and 5/7 -or- 2/7 % chance respectively?

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[–] • 0 pt

So does that mean the first person to place the bet is looking at 0:0 odds?

[–] • 0 pt

No, they have starting odds, and change as needed. Or most local bookies just follow Vegas odds.