Sports odds, where they come from? - page 4.

Popkon6

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Quote from: seoincorporation on January 30, 2025, 09:26:19 AM

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?

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.

Jawhead999

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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.

Fivestar4everMVP

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Quote from: ? on January 30, 2025, 09:35:42 AM

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.

danherbias07

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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?

ajiz138

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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.

Awaklara

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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.

_act_

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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.

?

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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.

seoincorporation

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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?

Topic: Sports odds, where they come from? - page 4. (Read 529 times)