The odds do not suggest that Srilanka are favorite even at this point.
India has taken a few quick wickets and is back in the match. However, it's anyone's game from here on in and more points should be given to the batting side.
If you go with odds then India was favorite in last game against Pakistan but result was other way round. At the moment Srilanka need 35 runs on 20 balls with 6 wikcets remaining. There is team favorite at the moment both have equal chances of winning the game.