The gambling experts at BoDog.com have decided that Lee's odds to win the show are 1/2 -- while Crystal Bowersox is at 3/2.
Translation -- a $2 bet would pay back $3 on Lee (the favorite) and $5 on Crystal (the underdog).
But the odds don't always predict the winner -- last year, Adam Lambert was the odds on favorite to win ... and we all know how that worked out.