The Bookies Odds Thread

[bixieupnorth]

shes gone off to york races today, picked out a horse in all 7 races and managed five winners, 10/1, 3/1, 3/1, 5/6 and 8 /1, hopefully she backed them all!

[bixieupnorth]

bookies early prices seem to favour the millers

rotherham clear favourite
then fleetwood
gas oxford chesterfield
southend
wycombe
then us northampton argyle and bradford on 20s

barnet huge favourites for the drop

[Gullscorer]

If you want to work out how fair the bookies' odds are, this post by RussJulieG (for which, acknowledgements) on the brfcforum site, explains how:

"OK, say, for example, I'm a bookie and I am laying odds on a horse race where there are three runners.

I determine that Horse #1 has an evens (50%) chance of winning; Horse #2 has a 1 in 3 chance of winning (33%); Horse #3 has a 1 in 6 chance of winning (17%). My odds would be:

Horse #1 = Evens
Horse #2 = 2-1
Horse #3 = 5-1

The percentages of 50, 33 and 17 percent all add up to 100%, so an entirely "fair" book.

But, I'm a bookie and I want to add a "house percentage" to make me a profit. I'm going to offer the following odds:

Horse #1 = 6-4 on = 60% chance of winning
Horse #2 = 7-4 = 36% chance of winning
Horse #3 = 4-1 = 20% chance of winning

That means the overall total is 116%, so my overround, or percentage above 100%, is 16%.

In other words, the odds I have given you on this race is 16% different from totally fair odds.

Using the odds given for winning League 2 next year, at the top of the post, I was able to calculate that the odds added up to 128%......which I thought particularly unfair.

Once you know how to calculate betting odds it relies on simple multiplication, division and percentages. It's fun to do now and again, just to check how fair the odds are that are being offered. Part of how bookies make money is relying on people not knowing whether they have been offered fair odds."

To find the better value odds, go to http://www.oddschecker.com" onclick="window.open(this.href);return false;, and/or Betfair.

[AustrianAndyGull]

Good stuff Gullscorer. Why are we 20's anyway? The bookies can **** off with that one! I'm going for Germany to win EUROS as i back them every tournament regardless and although i think Holland will win it would just be my luck to bet on Holland and Germany win.

[AustrianAndyGull]

I'm getting on Greece to beat Poland today in EURO2012 at 10/3. £150 on that one to get me £500, job done and i can buy my new drum kit.

[Plymouth Gull]

Haha did an accumulator for every group game earlier. Put a quid on and if i have all 24 right I get £164m.

Would be nice.

[happytorq]

If you want to work out how fair the bookies' odds are, this post by RussJulieG (for which, acknowledgements) on the brfcforum site, explains how

I'm bloody offended- I must have posted an explanation at least as good as this - probably better - at least 3 times on this damn forum!! And you go and get something from another website?
you have to be kidding me.
I don't know why I bother.

[AustrianAndyGull]

Bloody Greeks! I,m glad your economy has bombed!!! Arggggghhhhh!

[AustrianAndyGull]

I like the Greeks philosophy of going into a major tournament intent on playing like England. Boo hoo and bye bye money.

[Plymouth Gull]

I know Andy. I wanted that £165m!!

[Gullscorer]

I'm bloody offended- I must have posted an explanation at least as good as this - probably better - at least 3 times on this damn forum!! And you go and get something from another website?
you have to be kidding me.
I don't know why I bother.

Don't doubt that you did happytorq, but how long ago was it, we must have forgotten, or newcomers to the forum perhaps not even read your stuff at all. Anyway, what's the odds on somebody posting the same thing again next year?

[happytorq]

Don't doubt that you did happytorq, but how long ago was it, we must have forgotten, or newcomers to the forum perhaps not even read your stuff at all. Anyway, what's the odds on somebody posting the same thing again next year?

Basically, it's all about my ego. Me, me, me!

[adinojones]

it's better to stick to a very experienced handicapper....you will get better bets and complementary tips also.

[AustrianAndyGull]

Gulls are 3/1 tomorrow with Leeds at 4/6. I know it's only a friendly but who in their right mind would part with any hard earned at only 3/1?!! We should be 6 at least.

[cambgull]

Betting odds are awful now. They just offer terrible odds and mugs bet on it. 10 years ago, the odds would've been 2/1 for Leeds and around 8/1 for us. Odds on bets were solely for games where it was pretty much a guarantee that the team would win.