The question is whether we should rely on odds when betting. Or just because we made our analysis?
I'm not accusing bookies of using this to trap gamblers, but I believe that it is made to test our capability to choose the team that is likely to win based on their performance, not the odds they have given. That is why I don't weigh much on the odds, as I would rather consider their performance the most before making a decision. But of course, we all know that favorite teams never win always, sometimes it happens that the underdog team wins.
I'm not very sure if my opinion is correct but what I understand is that the bookies calculate the odds for a particular team based on different analysis like form, performance in previous matches the position a team is on the standings and so on, they don't just give odds to manipulate people, maybe things could go the other way while the match is live, like a team with 5.90 odds winning the one with 1.90 but it doesn't mean the bookies manipulated it, they leave bettors to predict what the right outcome of the match would be then allow luck to determine their fate, why the bookies have the most edge is cause everyone can't be always lucky.