In this video the bettingexpert academy explains how betting odds work and how bookmakers set odds. To the bookmaker, pricing up an event correctly is the key to his long term profitability, and to him this is purely a numbers game. A bookmaker will first of all price up the “real” chance of an event i.e to 100% and then alter the prices for the in-built margin he has established for the type of event. Be sure to check this video and find out more about this topic.
Find out more about how bookmakers set odds here 👇
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