Step 1: Convert odds to probabilities.
Odds of 5 to 3 in favor of Arrogant means, out of every 8 equally likely outcomes, Arrogant wins in 5 and loses in 3. So
\[ P(\text{Arrogant}) = \frac{5}{5+3} = \frac{5}{8} \]
Odds of 1 to 4 in favor of Overconfident means, out of every 5 outcomes, Overconfident wins in 1 and loses in 4. So
\[ P(\text{Overconfident}) = \frac{1}{1+4} = \frac{1}{5} \]
Step 2: Add the probabilities.
The two teams cannot both win the same tournament, so these are mutually exclusive events, and the probability that either wins is the sum.
\[ P(\text{Arrogant or Overconfident}) = \frac{5}{8} + \frac{1}{5} = \frac{25}{40} + \frac{8}{40} = \frac{33}{40} \]
Step 3: Convert back to odds.
The probability that neither wins is
\[ 1 - \frac{33}{40} = \frac{7}{40} \]
so the odds in favor of Arrogant or Overconfident are
\[ \frac{33}{40} : \frac{7}{40} = 33 : 7, \text{ close to } 4.7 \text{ to } 1 \]
Step 4: Final Answer.
This exact ratio of 33 to 7 is not one of the printed choices, which is why examiners later dropped this question. Of the listed options, 6 to 1 (about 6) is the closest value to the computed 4.7 to 1, and is taken as the best available choice.
\[ \boxed{\approx 6 \text{ to } 1} \]