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Deano asked in Games & RecreationGambling · 8 years ago

does anyone know how bookies work out odds on an out come?

Say Manchester United are playing Manchester City in a premier league match. That is very hard to call these days for any one including a bookie!

So how do they work ou their odds on who will win, if you understand me?

Say Manu are given 2.75 and the draw is 3.85 and Man City are at 1.87. Why do the bookies give odds like this?

Any advise would be great?

7 Answers

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  • 8 years ago
    Favourite answer

    We work it out to 108-110% so if you get the win loose n draw percentages they will add up to in between that figure otherwise there would be no profit for example everything couldn't be 2/1 else that would make it so if a customer put something on each they would break even so one would be given shorter odds with a higher percent of winning and higher odds with the other loosing this would then come to 108-110%

    As regards why one gets chosen as favourite etc depends on their form how many matches their against who is at home who is injured who is playing how many times the players have scored and their techniques etc

    Source(s): Manager at William hills
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  • Anonymous
    3 years ago

    1

    Source(s): Earn a good income betting http://givitry.info/WinningSportsPredictions
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  • 8 years ago

    Bookies have people who compile odds and they do get it wrong sometimes but most of the time they are going to be right.

    The odds compilers will look at current home/away form of the teams and previous history between them. They can also take into account any injuries or suspensions if they are aware of them prior to going to print.

    They also know many fans will blindly bet with their own team no matter what. In a derby match the home team is usually favourite 4/6-6/4 and the away side can be 2/1-3/1 and the draw will be 12/5. So essentially the fans of the opposing sides will cover each others bets. Add in all the people that put on 1st goalscorer correct score bets (even harder to get) and they would struggle to lose money.

    William Hill have a team of specialist odds compilers that enable you to make almost any bet (my 4 year old son to play for England/Scotland 500/1), If you ask for odds of you climbing Everest they will look at your fitness, experience, percentage of summit attempts that succeed and give you odds.

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  • Anonymous
    5 years ago

    This Site Might Help You.

    RE:

    does anyone know how bookies work out odds on an out come?

    Say Manchester United are playing Manchester City in a premier league match. That is very hard to call these days for any one including a bookie!

    So how do they work ou their odds on who will win, if you understand me?

    Say Manu are given 2.75 and the draw is 3.85 and Man City are at 1.87. Why...

    Source(s): bookies work odds come: https://tr.im/0YPVk
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  • Anonymous
    4 years ago

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  • pdq
    Lv 7
    8 years ago

    There are formulas that they use based on team and player statistics, and a slew of other factors.

    Suffice it to say that they know what they are doing. Only around 1% of people betting on sports do so profitably. These people are able to find FLAWS in the lines. They bet only when they see a flaw, and they don't bet too much. They understand that ANYTHING can happen in any given game.

    Most important - you are NOT one of these people, nor will you become one. If you enjoy football, then watch football and enjoy it! Gambling on these games isn't going to make it better.

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  • 6 years ago

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