I have asked this question before but I just guess this is programed in such a way that the more people select more of a particular club then the odd reduces. while the lesser they selected a particular game the odd increase l. That is to say the higher the chances of win the smaller the odd. And vise versa the lesser people select a mach the higher the odd increase or the lesser opportunity of win.
This is not how it is. Even if many people have not chosen the odd, a strong team odd will be very low while an underdog team odd will be very high. But there are times that a team can be given a high odd. This can be noticed and they can look into it and check about the match information and players to know what is happening. Also if a team is resting the key players, you can see the low odd increased a little in a noticable way. 
Topic: Sports odds, where they come from? - page 2. (Read 198 times)
How does casinos selecto the odds of each game/event? Is It based in the current betted amount on the past games on that team? Or its based on the chance that the team has to win the match?
Choosing the odds is playing with provability, but some times we see weird odds, like the past fight with Mike Tyson VS Jacke Paul, that one should be a x1.1 on Jacke Paul, but It wasn't that way, that's why I start this topic with the question of Where does odds comes from?
I have asked this question before but I just guess this is programed in such a way that the more people select more of a particular club then the odd reduces. while the lesser they selected a particular game the odd increase l. That is to say the higher the chances of win the smaller the odd. And vise versa the lesser people select a mach the higher the odd increase or the lesser opportunity of win. Choosing the odds is playing with provability, but some times we see weird odds, like the past fight with Mike Tyson VS Jacke Paul, that one should be a x1.1 on Jacke Paul, but It wasn't that way, that's why I start this topic with the question of Where does odds comes from?
How does casinos selecto the odds of each game/event? Is It based in the current betted amount on the past games on that team? Or its based on the chance that the team has to win the match?
Choosing the odds is playing with provability, but some times we see weird odds, like the past fight with Mike Tyson VS Jacke Paul, that one should be a x1.1 on Jacke Paul, but It wasn't that way, that's why I start this topic with the question of Where does odds comes from?
The odds come from possibility, speculation, analysis and hope, and this can be created if in a regulated match, but if you look at it naturally then we will speculate with the calculation of the data received so as to create a possibility that will finally be poured into odds in numbers including how much risk will be taken by a casino to provide odds to a match either ball or anything else that is match betting. Choosing the odds is playing with provability, but some times we see weird odds, like the past fight with Mike Tyson VS Jacke Paul, that one should be a x1.1 on Jacke Paul, but It wasn't that way, that's why I start this topic with the question of Where does odds comes from?
Odds are calculated based on many variables which includes the team/players stats, recent performance and the opponent and these are done by the Bookmakers not just by the casino platforms. You may also find different odds for a same game on two different betting platforms which is just due to the different bookmakers.
I think the odds are adjusted based on the gambling providers, they're not adjusted based on the bookies' profitability. Because when I gamble on different bookies and I see they're using the same providers, the odds are almost same.
But, when you compare it to other providers, the odds can be different, although not really far.
It's an exception if the bookie create by themselves from scratch, so they can adjust based on their bankroll.
But, when you compare it to other providers, the odds can be different, although not really far.
It's an exception if the bookie create by themselves from scratch, so they can adjust based on their bankroll.
danherbias07 said something similar. In your opinion, they odds are not calculated by each platform, but they all rely on some provider with authority to calculate them.
Maybe very big companies don't rely on third parties for that. Other users like dansus021 but not only him think that each platform calculates their own odds themselves.
I'll keep an eye on this thread. It is interesting to know where these odds come from, and I think that many of us may be wrong about their origin.
How does casinos selecto the odds of each game/event? Is It based in the current betted amount on the past games on that team? Or its based on the chance that the team has to win the match?
Choosing the odds is playing with provability, but some times we see weird odds, like the past fight with Mike Tyson VS Jacke Paul, that one should be a x1.1 on Jacke Paul, but It wasn't that way, that's why I start this topic with the question of Where does odds comes from?
Choosing the odds is playing with provability, but some times we see weird odds, like the past fight with Mike Tyson VS Jacke Paul, that one should be a x1.1 on Jacke Paul, but It wasn't that way, that's why I start this topic with the question of Where does odds comes from?
I just do quick google search and the Google AI said something like this "Sports odds in gambling come from a combination of statistical analysis, expert opinions, historical performance, and market forces."
or in a simple way is the casino need some data, betting action from the user and public opinion all of that gather by the casino and the odds is born
The odds on betting amounts are adjusted to ensure the casino or bookmaker maintains a built-in profit. For example, if more people bet on B in a competition between A and B, the odds for B decrease, and the odds for A increase. This system works like a scale to balance the betting action and ensure the casino's profitability.
Exactly I think the bookmakers are responsible for this actions because everything is mastermind in such a way that it'll definitely boil down to making the casinos generate more profit from it but I wonder why they make their scale for calculating the odds so fair, so this is why it's all game of luck cause in this case now if it's been adjusted and favours your odd then you just won a jackpots.
I remember researched about it in the past and AFAIK the odds are given by combining a mix of past results with what people bet on. If the past results of a match of X vs Y give odds of 2 to 1 but people are betting more money on Y, the odds are adjusted. Other factors can also be taken into account such as if the best player on the team is injured or suspended and will not play. But those odds are given by computer programs and nowadays AI intervenes.
How does casinos selecto the odds of each game/event? Is It based in the current betted amount on the past games on that team? Or its based on the chance that the team has to win the match?
Choosing the odds is playing with provability, but some times we see weird odds, like the past fight with Mike Tyson VS Jacke Paul, that one should be a x1.1 on Jacke Paul, but It wasn't that way, that's why I start this topic with the question of Where does odds comes from?
Choosing the odds is playing with provability, but some times we see weird odds, like the past fight with Mike Tyson VS Jacke Paul, that one should be a x1.1 on Jacke Paul, but It wasn't that way, that's why I start this topic with the question of Where does odds comes from?
Usually the odds vary depending on the bookmaker, but the events are related to the size of the bet and the number of bets varies depending on the bettors. However, here Tyson is old so fewer people bet on Tyson because he has been less aggressive on the field due to his age.
But the opposing player Jacke Paul was young and bettors bet more on him, so we can assume that the bettors bet on the stronger side. However, I don't think bettors are underperforming and can bet on a less aggressive player to lose.
I think the odds are adjusted based on the gambling providers, they're not adjusted based on the bookies' profitability. Because when I gamble on different bookies and I see they're using the same providers, the odds are almost same.
But, when you compare it to other providers, the odds can be different, although not really far.
It's an exception if the bookie create by themselves from scratch, so they can adjust based on their bankroll.
But, when you compare it to other providers, the odds can be different, although not really far.
It's an exception if the bookie create by themselves from scratch, so they can adjust based on their bankroll.
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The odds on betting amounts are adjusted to ensure the casino or bookmaker maintains a built-in profit. For example, if more people bet on B in a competition between A and B, the odds for B decrease, and the odds for A increase. This system works like a scale to balance the betting action and ensure the casino's profitability.
Absolutely right and exactly what I was going to include in my comment since this does not exactly answer the op's question, I believe he meant how the odds are initially formed and assigned from the very beginning of listing a game that is coming up and available for gamblers to bet on.On this i would say that the casino or sportsbook assigned with this responsibility simply decide odd to assign to team based on their previous performances and the chances they have at winning the game, after the odds has been assigned at that very beginning, as bettors start betting, the odds changes based on team that are getting more bets, their odds decrease while the team getting less bets enjoy a bigger odds.
I believe that first, the sportsbook comes up with what should be the total odds in a game, and then divide it between the team playing based on which team stand a better chance of winning the match and as well as getting more bets.
I always think that sports bookies rely on something like default odds given by a group of oddsmakers which could be the reason why they are not that much different from other sports bookies. We don't know though who this group of people are. I read in Google that stats makers are involved in these things and I bet it came from them.
Now since that is difficult to answer, the difference in each bookie is what I am more curious about. Is it from weighing the number of bets from Player A so that even if Player B wins the bookies won't have anything to lose?
Now since that is difficult to answer, the difference in each bookie is what I am more curious about. Is it from weighing the number of bets from Player A so that even if Player B wins the bookies won't have anything to lose?
Perhaps the casino has data on where these odds come from as well as from winning matches, including in this team's squad in football.
But if from boxing I don't know because I don't follow many bets there only occasionally.
So maybe the match statistics are important for the bookies to change the odds for them.
But if from boxing I don't know because I don't follow many bets there only occasionally.
So maybe the match statistics are important for the bookies to change the odds for them.
The odds offered by bookmakers will continue to change, perhaps it is related to the amount of bets on the event. Likewise, when the match is in progress, it changes based on the chances of winning,g and even dominance during the match also changes the odds offered.
no one knows for sure how bookmakers make the odds offered for each event. it is possible that they are adjusted for a certain amount of profit the bookmaker will have on each event.
no one knows for sure how bookmakers make the odds offered for each event. it is possible that they are adjusted for a certain amount of profit the bookmaker will have on each event.
Casino use expected value to calculate what will be the odd in a way that gamblers will have most chance to lose more as the continue to gamble.
You can read about expected value in casinos to understand more about it.
Jacke Paul odd can not be 1.1x. That is not possible. Mick Tyson is old. Although some people thought the game is manipulated between the two of them.
You can read about expected value in casinos to understand more about it.
Jacke Paul odd can not be 1.1x. That is not possible. Mick Tyson is old. Although some people thought the game is manipulated between the two of them.
The odds on betting amounts are adjusted to ensure the casino or bookmaker maintains a built-in profit. For example, if more people bet on B in a competition between A and B, the odds for B decrease, and the odds for A increase. This system works like a scale to balance the betting action and ensure the casino's profitability.
How does casinos selecto the odds of each game/event? Is It based in the current betted amount on the past games on that team? Or its based on the chance that the team has to win the match?
Choosing the odds is playing with provability, but some times we see weird odds, like the past fight with Mike Tyson VS Jacke Paul, that one should be a x1.1 on Jacke Paul, but It wasn't that way, that's why I start this topic with the question of Where does odds comes from?
Choosing the odds is playing with provability, but some times we see weird odds, like the past fight with Mike Tyson VS Jacke Paul, that one should be a x1.1 on Jacke Paul, but It wasn't that way, that's why I start this topic with the question of Where does odds comes from?
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