City's betting odds

Now I'm not really a betting man, but can someone please explain how we can be such favourites with short odds for the various competitions we are in...
7/1 - 9/1 4th favourites for the Premiership
7/1 - 8/1 3nd favourites for the FA Cup
7/1 favourites for the Europa League
...and then at the same time mancini is the 2nd favourite manager to be saked at 5/1 behind Roberto Martinez?
*Scratches head*
7/1 - 9/1 4th favourites for the Premiership
7/1 - 8/1 3nd favourites for the FA Cup
7/1 favourites for the Europa League
...and then at the same time mancini is the 2nd favourite manager to be saked at 5/1 behind Roberto Martinez?
*Scratches head*