This is because it $('#oddsInput')is a jQuery object . It has no property value.
Access the first DOM element in a jQuery object:
iodds[0].value = payout;
$('#oddsInput')[0].value = payout;
or, since this is a jQuery object, use the method .val():
iodds.val(payout);
// or
$('#oddsInput').val(payout);
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