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Fooled by Randomness: The Hidden Role of Chance in Life and in the Markets (Incerto, #1), by Nassim Nicholas Taleb

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Asymmetric odds means that probabilities are not 50% for each event, but that the probability on one side is higher than the probability on the other. Asymmetric outcomes mean that the payoffs are not equal.
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Fooled by Randomness: The Hidden Role of Chance in Life and in the Markets (Incerto, #1)
Fooled by Randomness: The Hidden Role of Chance in Life and in the Markets (Incerto, #1)
by Nassim Nicholas Taleb
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