Dave & louis211 vs Tobes

Nothing to do with a hell of a lot more people putting money on "their team"...? Man Utd have a lot more fans than Everton so it is much more likely for money to be put on them than the toffees

History obviously plays a part too. Odds are developed using statistics, show me a statistic that isn't formed using history.

 

What are you trying to say Sir Gerrez.You mean Toffees supporters beleive they cannot win the league?

 

Not in the compiling of the odds no.

The bookies work on probability & their odds reflect how likely they calculate the outcome to be.

If they take a lot of cash on a particular outcome & they're left with a large liability on their overall book on that event, then they'll shorten the odds in order to make the bet less attractive. However that's the punter having an impact on the compiled odds, not being the sole factor, which is what Dave was trying to make out.

 

Are you really as thick as you are displaying today?

That is NOT what I said and if you had even half a brain cell you would be able to define that for yourself. I SAID that the bookmaker used consumer behaviour - eg what odds were likely to attract a response, previous betting habits, etc. etc. into consideration when setting his odds. Hence, the odds are not set without consideration of the punter.

You are a tiresome dickhead!

 

Maybe your age is responsible for your memory lost, or maybe it's just the fact that you're just an argumentative bell end, who realises he's painted himself into a corner. As this is the post that I originally responded to, you helmet.

Which you posted in response to Gerrez;

 

Let me spell it out to you pea brain. You can use any mathematical tool you like to assess likely outcomes but they are absolutely no use whatsoever to a bookmaker if he cannot make them attractive to a likely punter. Therefore the consumer behaviour is an essential element of the odds that are set. But then I suppose you believe that prices are based solely on total cost!

 

You can't claim that punter behaviour is involved at the opening of the book you dolt, as you might be pricing a market that has no previous direct comparable.

The bookie works his odds on the probability, it's only after he's opened the book that punter behaviour can affect the odds, either by shortening them if he's becoming over exposed, or lengthening them if there's no takers.

 

****ing hell lads. Is this still going on?

 

Just leave the room RHC, they are happy with each others company

 

Do you think they're lovers?

 

There's a fine line...

 

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So who decides the odds, Dave or Tobes?

 

Me

 

What are the odds on it carrying on for a while yet?

 

What a complete and utter ;oad of bollocks!!!!!

No bookie worth his salt would bother opening a book if he did not believe that a punter would be tempted by the odds offered. Hence the odds are directly related to the punter behaviour.

In the unlikely event that the bookie had no previous direct experience then he would look at the of his competitors that did have the experience he lacked and how they had responded to consumer behaviour. If that experience was not available then he would build-in a safety margin until such time as he felt more confident that the had a 'handle' on the behaviour.

 

probably it is odds-on as there's very little to do tonight!

 

Lol, well we've found another subject that you know absolutely jack **** about Dave. Your idiocy is seemingly boundless.

Bookies calculate odds based on probabilities. They have reems of data, algorithms & huge spreadsheets. Their entire reason for existence is to ensure that they understand the variables in the market better than the punter. They adjust their prices based on market movement but that doesn't factor into how they compile the initial prices.

I know this how? Because my mate owns a bookies, so your opinion doesn't matter a ****ing toss as it's wrong - the end.

 

What is the odds of HRC daughter marring Gerrez?

 

You truly are a complete and utter imbecile. Go and ask your mate if after all that work he came up with odds that wouldn't tempt a flea he'd even bother opening a book. So he's got to consider what he knows about the reaction of his target audience if he's to make a profit.

If you are an example of the level of intelligence that exists with the IOD then no wonder this economy is in the mess it is!!!