why is toney only 5-1?

 seems like it should be at least 8-1

 Money coming in on him would be my bet... no pun intended.

 Because morons are deluding themselves into thinking he has the proverbial puncher's chance.

Platypus -  Money coming in on him would be my bet... no pun intended.
This is probably the most accurate answer.  Odds shift with money.