Crossword Genius

1 of 2 or 1 in 3, roughly? (6)

Ross

I believe the answer is:

either

'1 of 2' is the definition.
(either of the two)

I don't understand how the rest of the clue works.

(Other definitions for either that I've seen before include "offered a choice" , "Her tie (anag.)" , "One of two alternatives" , "Each of two; moreover" , "Word introducing first of two 16s" .)

I've seen this clue in The Guardian.
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