5 For even if there are so-called gods, whether in heaven or on earth (as indeed there are many “gods” and many “lords”),

Read 1 Corinthians 8:5 Using Other Translations

For though there be that are called gods, whether in heaven or in earth, (as there be gods many, and lords many,)
For although there may be so-called gods in heaven or on earth--as indeed there are many "gods" and many "lords"--
There may be so-called gods both in heaven and on earth, and some people actually worship many gods and many lords.