Remember when the Blue Jays were 4-1 odds on favorite to win the World Series 2 years ago?
Every team has an equal chance to make moves that would benefit their team in winning their championship.
And you point is? Also, not to be a nit but I don't remember the Jays ever being 4-1. Odds on favorites yes but IIRC it was more like 10-1 or thereabouts with 4-5 teams only slightly below them.
You could look up the odds to win the cup right now. I haven't looked but I'd bet a ton that LA is at this point in time given a better chance than Toronto. I would also bet a ton that whoever is favored, there are a number of teams very close behind them.
Will the team with the shortest odds win? Maybe. But probably not considering they're probably a 6-1 dog to win or something like that.
Do the odds listed for various teams represent their actual chance of winning? No, not exactly but it's not a bad starting point, this is true for several reasons. And if one team is given a much better chance than another team, it is highly likely that that team does in fact have a better chance to win.
Do the odds listed give a better picture than a glance at the current standings would? Absolutely.
The oddsmakers have to consider everything and they are backing the numbers posted with real money.
Do the odds listed give a better picture than any other single numbers you could look at? I believe so yes. If there is something better than I would like to hear about it. I am 100% certain that looking at the posted odds gives a more accurate picture than looking at current standings would.
The whole point is, the odds posted may not be perfect but by and large they are pretty efficient. If they list LA at 15-1 and Toronto at 50-1 (as they did in February) and some random internet poster tells you no, they both have an equal chance of winning, then the random internet poster hasn't a clue and you can count on it.
PS LA was 15-1 and Toronto 50-1
before the trade. After the trade the odds shifted even further but even before LA was considered a much stronger cup candidate then Toronto by
those that had to consider everything in context and back up their opinions with real money. It's not just that LA won the cup and Toronto didn't, it's that LA won the cup and Toronto fell over a cliff and the notion that they had equal chances in February is ludicrous. Just as ludicrous as it would be to say today that Toronto and LA have equal chances today.