■ plural noun
1》 the ratio between the amounts staked by the parties to a bet, based on the expected probability either way.
2》 ( the ~ ) the chances of something happening or being the case.
3》 ( the ~ ) the balance of advantage; superiority in strength, power, or resources: she clung to the lead against all the ~.
Phrases
at ~ in conflict or at variance.
it makes no ~ informal, chiefly Brit. it does not matter. [from an earlier use of ~ in the sense 'difference in advantage or effect'.]
lay (or give ) ~ offer a bet with ~ favourable to the other better.
over the ~ Brit. (especially of a price) above what is generally considered acceptable.
take ~ offer a bet with ~ unfavourable to the other better.
Origin
C16: appar. the plural of the obs. noun odd 'odd number or odd person'.