noun. ['ˈɑːdz'] the likelihood of a thing occurring rather than not occurring.
adjective. ['ˈɑːdˈzɑːn'] having a better than even chance of success.
noun. someone who sets the betting odds based on calculations of the outcome of a contest (especially a horse race).
noun. ['ˈɑːdz'] the ratio by which one better's wager is greater than that of another.