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How did bookmaker calculate odds ?

 
 
Reply Wed 1 Aug, 2018 05:54 am
Can somebody give an explanation?
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Type: Question • Score: 4 • Views: 1,206 • Replies: 2
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engineer
 
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Reply Wed 1 Aug, 2018 06:14 am
@CAPABLE2KNOW,
It really depends on the sport. The best documented odds generator is pari-mutuel horse track betting. You can read about it here.
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BillRM
 
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Reply Wed 1 Aug, 2018 09:01 am
@CAPABLE2KNOW,
They do not as a matter of fact calculate odds they instead balance the bettings so no matter who win they can take their commissions

So once more the odds are just the combine opinions of all the betters in the betting pools as near as the bookmakers can figure it.
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