New Posts For Thread: How do Bookies price up their Football Match Market odds?https://community.betfair.com/general_betting/go/thread/view/94082/29381737/how-do-bookies-price-up-their-football-match-market-oddsI know that this has been mentioned on endless threads prior to this one, but i was wondering, how do Bookmakers price up their odds?.I realise that there are statistiians working for these Bookmakers but does anyone know how they actually price up t1) The computer ratings system will give them the prices. 2) They will then have a small range for variation as to which price they put up based on experience of how they expect bets to come in.3) Quick check to make sure there are no arbitrage opporhttps://community.betfair.com/general_betting/go/thread/view/94082/29381737/how-do-bookies-price-up-their-football-match-market-odds?post_id=524200383#5242003831) The computer ratings system will give them the prices. 2) They will then have a small range for variation as to which price they put up based on experience of how they expect bets to come in.3) Quick check to make sure there are no arbitrage opporSun, 16 Sep 2012 16:29:15 -0500why Kenhttps://community.betfair.com/general_betting/go/thread/view/94082/29381737/how-do-bookies-price-up-their-football-match-market-odds?post_id=524197963#524197963why KenSun, 16 Sep 2012 15:02:19 -0500obermory 16 Sep 12 02:09 Yes it will be done on ratings and as Max says 2.26 Home means they rate those 2 teams as equalsSo you can work out a rating table starting with the 2.68 3.65 2.68 Max gives for a match between equals at a neutral venuehttps://community.betfair.com/general_betting/go/thread/view/94082/29381737/how-do-bookies-price-up-their-football-match-market-odds?post_id=524197823#524197823obermory 16 Sep 12 02:09 Yes it will be done on ratings and as Max says 2.26 Home means they rate those 2 teams as equalsSo you can work out a rating table starting with the 2.68 3.65 2.68 Max gives for a match between equals at a neutral venueSun, 16 Sep 2012 14:58:46 -0500One ingredient most people miss...experience.https://community.betfair.com/general_betting/go/thread/view/94082/29381737/how-do-bookies-price-up-their-football-match-market-odds?post_id=524197477#524197477One ingredient most people miss...experience.Sun, 16 Sep 2012 14:48:34 -0500TOTGA - Sorry for being a bit cryptic but unfortunately I wouldn't particularly like to point it out to the type of person who already considers themselves expert enough to write on a site called bettingexpert when they're probably nothing more thanhttps://community.betfair.com/general_betting/go/thread/view/94082/29381737/how-do-bookies-price-up-their-football-match-market-odds?post_id=524194615#524194615TOTGA - Sorry for being a bit cryptic but unfortunately I wouldn't particularly like to point it out to the type of person who already considers themselves expert enough to write on a site called bettingexpert when they're probably nothing more thanSun, 16 Sep 2012 13:29:53 -0500And what is that then Silverback?....https://community.betfair.com/general_betting/go/thread/view/94082/29381737/how-do-bookies-price-up-their-football-match-market-odds?post_id=524194425#524194425And what is that then Silverback?....Sun, 16 Sep 2012 13:22:23 -0500That article is just about on the right track but the author is missing a blindingly obvious and far superior way of approaching it which is in fact far less complicated and subjective.https://community.betfair.com/general_betting/go/thread/view/94082/29381737/how-do-bookies-price-up-their-football-match-market-odds?post_id=524193703#524193703That article is just about on the right track but the author is missing a blindingly obvious and far superior way of approaching it which is in fact far less complicated and subjective.Sun, 16 Sep 2012 12:52:19 -0500Not sure about bookies and I'm sure forumites would disagree with a lot of it but there's an entire book on the subject, the racing post guide to football betting or something like that.https://community.betfair.com/general_betting/go/thread/view/94082/29381737/how-do-bookies-price-up-their-football-match-market-odds?post_id=524185879#524185879Not sure about bookies and I'm sure forumites would disagree with a lot of it but there's an entire book on the subject, the racing post guide to football betting or something like that.Sun, 16 Sep 2012 08:09:34 -0500There is a very well written series on pricing football matches over at this site;).http://www.bettingexpert.com/blog/how-to-calculate-probabilities-for-football-betting-using-poisson-part-1https://community.betfair.com/general_betting/go/thread/view/94082/29381737/how-do-bookies-price-up-their-football-match-market-odds?post_id=524184287#524184287There is a very well written series on pricing football matches over at this site;).http://www.bettingexpert.com/blog/how-to-calculate-probabilities-for-football-betting-using-poisson-part-1Sun, 16 Sep 2012 06:55:36 -0500Cheers for your comments guys,,, very interesting read.Thankshttps://community.betfair.com/general_betting/go/thread/view/94082/29381737/how-do-bookies-price-up-their-football-match-market-odds?post_id=524181089#524181089Cheers for your comments guys,,, very interesting read.ThanksSun, 16 Sep 2012 02:57:06 -0500