Hi all,

Welcome!
I am a bit confused about "what are the odds?". To the best of my knowledge, it basically means "what is the probability (or the chance?)".

Yes, that is one meaning. You actually want to know what the probability is.
But I've found that it has some different meanings.

What I am wondering is...

1. Is there any diffence between what ARE the odds and what IS the odds?

In North America, people don't say "What is the odds?"
(One of my coworker from the U.K said she uses both of them in the same way)

2.

Are there any other meanings that either of them has

besides the one I mentioned above?

See below.
I've found below on the net.

what's the odds?

it's not important; it doesn't matter

Example: We didn't win the competition but what's the odds?

I don't know what this is supposed to mean.
Someone told me that it sometimes means "a situation or something is a bit weird".

When something unlikely happens, people can say "What are the odds!" Here, they are not asking a question; they are saying that what happened was **very unlikely, very unexpected**.
Anyone who help make this clear for me would be much appreciated.

Chris