Reject the odds -- current odds rejected (5)
I believe the answer is:
spurn
'reject' is the definition.
(synonyms)
'odds current odds rejected' is the wordplay.
I cannot quite see how this works, but
'odds' could be 'sp' (betting abbreviation for starting price) and 'sp' is present in the answer.
The remaining letters 'urn' is a valid word which might be clued in a way I don't see.
This may be the basis of the clue (or it may be nonsense).
'the' acts as a link.
Can you help me to learn more?
(Other definitions for spurn that I've seen before include "Reject scornfully, say unwanted suitor" , "discard" , "Scorn" , "turn away" , "Reject disdainfully" .)