it doesn't really work like that for most markets
UK bookies (even the biggest like bet365 or the markets on betfair) base their odds on the Asian bookies, which are taking in bets worth many millions even for relatively small markets (if they didn't then there would be arbitrage opportunities snapped up in minutes).
The main players on the Asian markets are betting syndicates (e.g smartodds), which have vastly complex forumlas and algorithims, taking into account thousands of factors. So these are effectively driving the UK odds and are very accurate.
The only exception is on really big markets (e.g. Man Utd v Liverpool or World Cup winner), where the money taken from 'high street' bookies will come close to matching that placed by the syndicates.
Posted By: Mecagoenti on May 6th 2013 at 14:46:18
Message Thread
- FAO Pit - Rele-Con 1.75 (NCFC) - duke of york, May 6, 14:14:40
- 0.5 (n/m) (NCFC) - wolfio, May 6, 18:05:39
- doesn't 5 mean you don't think there's any chance we will go down (n/m) (NCFC) - earlydoors, May 6, 15:16:42
- I'm still a 5. (n/m) (NCFC) - Chris Peacock, May 6, 15:13:39
- you dont think there is the remotest chance we'll go down (n/m) (NCFC) - earlydoors, May 6, 15:17:42
- I'm not blind. I can see we are not mathmatically safe. (NCFC) - Chris Peacock, May 6, 15:26:57
- not a 5 then (n/m) (NCFC) - earlydoors, May 6, 15:45:44
- Yes. 5. Five. (n/m) (NCFC) - Chris Peacock, May 6, 16:42:13
- so you have no thoughts of relegation and dont check other results? (n/m) (NCFC) - earlydoors, May 6, 17:02:07
- No. I look at the results. (NCFC) - Chris Peacock, May 6, 17:13:51
- so you have no thoughts of relegation and dont check other results? (n/m) (NCFC) - earlydoors, May 6, 17:02:07
- Yes. 5. Five. (n/m) (NCFC) - Chris Peacock, May 6, 16:42:13
- not a 5 then (n/m) (NCFC) - earlydoors, May 6, 15:45:44
- I'm not blind. I can see we are not mathmatically safe. (NCFC) - Chris Peacock, May 6, 15:26:57
- you dont think there is the remotest chance we'll go down (n/m) (NCFC) - earlydoors, May 6, 15:17:42
- I'm still a 5. Wish the bookies would have the same fear as on here (NCFC) - pants, May 6, 14:23:56
- The bookies aren't Norwich fans... (n/m) (NCFC) - duke of york, May 6, 14:25:22
- also, bookies get to change their minds (NCFC) - Sugbad The Bad, May 6, 14:33:26
- True, they adjust a market according (NCFC) - pants, May 6, 14:39:54
- Doesn't the fact we were 16/1 to go down and we're now 3/1 (NCFC) - mrleelee, May 6, 14:42:34
- No not really, because 3/1 is still a big price. 16/1 was massive (n/m) (NCFC) - pants, May 6, 14:43:24
- Well we won't be 3/1 tomorrow, so lump on would be my advice (n/m) (NCFC) - mrleelee, May 6, 14:44:10
- I want to put money on us staying up (n/m) (NCFC) - pants, May 6, 14:44:49
- But surely the odds wont ever be decent enough for you to lump on that? (NCFC) - mrleelee, May 6, 14:47:43
- The odds on it, aren't decent, for good reason (n/m) (NCFC) - pants, May 6, 14:50:22
- if Wigan don't win tomorrow (NCFC) - Mecagoenti, May 6, 14:48:58
- if they lose will be quite big (NCFC) - SCC 28, May 6, 14:51:51
- But surely the odds wont ever be decent enough for you to lump on that? (NCFC) - mrleelee, May 6, 14:47:43
- I want to put money on us staying up (n/m) (NCFC) - pants, May 6, 14:44:49
- Well we won't be 3/1 tomorrow, so lump on would be my advice (n/m) (NCFC) - mrleelee, May 6, 14:44:10
- No not really, because 3/1 is still a big price. 16/1 was massive (n/m) (NCFC) - pants, May 6, 14:43:24
- yebbut that's only cos other fans haven't bet on us. Yet. (n/m) (NCFC) - Sugbad The Bad, May 6, 14:40:25
- it doesn't really work like that for most markets (NCFC) - Mecagoenti, May 6, 14:46:18
- interesting, didn't know that. Ta. (n/m) (NCFC) - Sugbad The Bad, May 6, 14:56:32
- 2nd favs is fairly in the frame lol (NCFC) - SCC 28, May 6, 14:43:04
- it doesn't really work like that for most markets (NCFC) - Mecagoenti, May 6, 14:46:18
- Doesn't the fact we were 16/1 to go down and we're now 3/1 (NCFC) - mrleelee, May 6, 14:42:34
- True, they adjust a market according (NCFC) - pants, May 6, 14:39:54
- anyway we're 1.3 to go down (NCFC) - SCC 28, May 6, 14:27:52
- sorry 1.3 to stay up after 4.3 to go down (n/m) (NCFC) - SCC 28, May 6, 14:28:45
- Well I'm still well confident we'll stay up (n/m) (NCFC) - pants, May 6, 14:26:25
- I'm merely hopeful (n/m) (NCFC) - duke of york, May 6, 14:27:06
- counting so much on wigan fucking up tomorrow (n/m) (NCFC) - SCC 28, May 6, 14:30:19
- I'm merely hopeful (n/m) (NCFC) - duke of york, May 6, 14:27:06
- also, bookies get to change their minds (NCFC) - Sugbad The Bad, May 6, 14:33:26
- The bookies aren't Norwich fans... (n/m) (NCFC) - duke of york, May 6, 14:25:22
- 1.01 from 4.99 (n/m) (NCFC) - SCC 28, May 6, 14:19:15
- lol (n/m) (NCFC) - thebigfeller, May 6, 14:24:29
- A man of extremes (n/m) (NCFC) - duke of york, May 6, 14:21:04
- 4 now (n/m) (NCFC) - Mecagoenti, May 6, 14:18:13
- I'm still a 5 (NCFC) - Yellalee, May 6, 14:16:34
- I spot a flaw in the mechanism here (NCFC) - duke of york, May 6, 14:17:50
- Certainly haven't heard much from AB recently... (NCFC) - duke of york, May 6, 14:16:29
- I think the 5's will be in hiding ! (n/m) (NCFC) - Pit, May 6, 14:15:52
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