Odds of 2-1 mean that person offering the odds is moderately confident that the event in question will happen. If they offer 2-1, and you bet £/$ 10, if the event happens you would win £/$ 20 and the £/$ 10 that you bet on the event. So in total you would get £/$ 30 back.
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It means if you bet £1 and your bet wins you will get £21 back plus your original £1
-Opposites of evens. -odds can also mean the chances of something happening.
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Odds of 9-2 means that for every 2$ you bet you will get 9$ if you win, and nothing otherwise.