Short odds are a type of betting odds that show a high probability of an event occurring. The term is quite popular in gambling. Here, bettors may use short odds to place bets with a higher chance of winning. The shorter the odds, the more likely the event is to occur. For example, if a horse has odds of 1-2, it is more likely to win than a horse with odds of 3-1. This is because there are more ways to win with shorter odds. For instance, if two horses have odds of 1-2, the first horse can win by finishing first or second, while the second horse can only win by finishing first.