The Odds represent the probability of an outcome for a specific event on which you can place a bet. Odds on the bookmaker.XYZ is the same as on Azuro protocol where they are delivered by the Oracles/Data Feed Providers.
Once betting starts on an event the odds change influenced by the bets made by bettors. The bets made on the front-end operator`s platform deployed on the Azuro protocol have "fixed" odds. This means that a player can use the odds to calculate his potential winnings.
For example, a 100 USDT bet placed on a Manchester United Win with the odds of 2,2 can result in a payout of 220 USD if such an outcome happens in the event. The player will make a profit of 120 USDT.
You may notice that sometimes if you want to place a bigger bet - the odds start changing. Bets which represent a significant size (compared to the amount of liquidity behind that betting market, at that time) may encounter a such change in odds.
In any case - you can still clearly see the odds that you can bet within the betting slip.
Slippage is a common phenomenon in crypto frequently encountered on decentralized exchanges when swapping tokens. It is the difference between the quoted and executed price of the swap. Similarly, on Azuro, the slippage is related to the change in odds while executing the bet: the difference between quoted odds and executed odds.
A bettor will normally have some extremely minor/negligible slippage (fractions of a percent).
It is possible to adjust the "Odds slippage tolerance" in the settings tab of the bet slip. This way if there happens to be slippage above your preference - the transaction(bet) will not go through.
Most bettors will rarely encounter noticeable slippage when betting.