Early odds of 4/7 (64% probability) see Alexa Bliss winning against Raw Women's Champion Bayley. This does not necessarily mean Bayley loses the title in the event of a count out or DQ, but the bet would be graded as a win for Bliss. All other champions are currently projected to retain. Kevin Ovens is favored over Chris Jericho for the US Championship, Neville is favored to retain the Cruiserwieght Title against Austin Aries and the Hardyz are projected to retain the Raw Tag Titles against Cesaro and Sheamus.
Braun Strowman has odds of 1/2, or a nearly 67% probability. Booking patterns would suggest with the onslaught of abuse Braun has put Roman through that Reigns would get his revenge by beating Strowman in the ambulance match. This may not be the case as Braun did suffer a loss in a dumpster match with Kalisto on the go home Raw leading into Payback.
The House of Horrors match has odds favoring Randy Orton at 4/6 (60% probability) against Bray Wyatt. This match is Wyatt's creation, Raw is his home brand and Orton's WWE Championship isn't even on the line. A strong case can be made that Wyatt should be favored and the odds on this match could easily flip in the other direction.
WWE Payback Odds
United States Championship
Kevin Owens 1/7 vs Chris Jericho 4/1
Raw Women's Championship
Bayley 5/4 vs Alexa Bliss 4/7
Neville 4/6 vs Austin Aries 11/10
Raw Tag Team Championship
Hardy Boyz 2/5 vs Cesaro and Sheamus 13/8
Roman Reigns 6/4 vs Braun Strowman 1/2
House of Horrors Match
Randy Orton 4/6 vs Bray Wyatt 11/10
Seth Rollins 4/9 vs Samoa Joe 13/8
Enzo and Big Cass 4/7 vs Gallows and Anderson 6/5