In Cricket World Cup betting, the odds both reflect your potential payout if you win as well as the perceived probability of the event occurring, in the eyes of the odds makers. Evens (shown as 1/1) is the point between favourite and underdog, with any odds below that, such as 1/2 or 3/5, showing a more likely occurrence.
Hypothetically, If you take some Cricket World Cup odds to win a game of India at 2/5 to beat Australia at 2/1, betting on Australia means that you’re going against the perceived favourite. If the Aussies win and you’ve bet £10 on them, you get a 2:1 payout, per those odds, which is £30 – including your £10 stake.