Paul first refers to the idols to which sacrifices are made, and concerning theses states that there are those that are called ‘gods’. An idol, of course, is nothing; that which is made by the hands of men that is worshiped as “gods” “by nature are not gods.” (Galatians 4:8, ESV) By nature that which is made and formed by the hands men to which men make sacrifices has no “might” of itself to either cause harm are to cause good. (Psalm 115:4-8; 135:15-18; Isaiah 44:9-20) However, Paul, in harmony with the Old Testament, says that those who make offerings to such idol-gods are actually making offerings to demons, and not to the one true God. (Deuteronomy 32;17; Psalm 106:37; 2 Corinthians 10:20) These demons do have power, and are “by nature” mighty, but the man-made idol (gods) have no power, and thus, are not, by nature, mighty, and are certainly not the God of Abraham, Isaac and Jacob.
Paul, in speaking of the idols ‘gods’ says that there are many that are “called” gods, but he adds to that “there are many gods.” Is he simply repeating himself? Evidently not; rather, he is contrasting those that are “called” gods with others that are indeed “gods”. By comparing spiritual revelation with spiritual revelation, we conclude that in the latter usage, Paul speaking of “gods” in the sense of might and power as contrasted with idols, which have no might or power.
That there indeed are many “gods” –mighty ones — is affirmed by Jesus. (John 10:34,35) The “gods” that Jesus referred to are the “sons of God” to whom the Logos came, and who received him. (Psalm 82:1,6,7; John 1:10-12) These are not false gods; but neither are they the one true God, the Might of the universe. They are mighty (gods – el, elohim, theoi) because of the power and authority given to them by the one true Might. Nevertheless, even the demons have been given great might from the only true Might, and they have misused that might. As to the promises of demons, however, they are false gods, but as to their being, by nature, they are true gods, that is, they really do have power and might.