the probability that something is so, will occur, or is more likely to occur than something else: The odds are that it will rain today.
the ratio of probability that something is so, will occur, or is more likely to occur than something else.
this ratio used as the basis of a bet; the ratio by which the bet of one party to a wager exceeds that of the other, granted by one of two betting opponents to equalize the chances favoring one of them: The odds are two-to-one that it won't rain today.
an equalizing allowance, as that given the weaker person or team in a contest; handicap.
an advantage or degree of superiority on the side of two contending parties; a difference favoring one of two contestants.