Yes, you bet against other players who have bet on the opposite odds. So in the end of the match winners share money that was placed on the losing team by another gamblers. And winners's profit depends from how big money they bet. The winners are those players who have made the correct prognosis and bet on the right outcome in the majority of the proposed score of the match created by the House. And House is holding a certain percentage of amount as their earnings (That's how they r survive).
Ah thats why the ods is ramdomly generating.. its relaying on the bet in the other side which is your enemy bet.. now i learn about sports betting i am old in sports betting but this is my first time to know about the ods.
Odds usually defy the user, sometimes even odds with 1.30 or 1.20 will lose which are considered heavy favorites. Relying only on odds is not advisable and as a minimum every soccer bettor will have to check at least the standings of 2 teams which are playing against each other and check also goals statistics, then he can even see the odds to make a comparison if odds are correct based on these facts or not. I wonder how vegas put this odds, they must have some kind of gigantic data analyzing software.