The methods bookmakers use to set odds are perhaps not widely known, even among those with years of sports betting experience. In reality, bookmakers also employ similar methods as players do to determine odds, through comparing the strengths of the two teams to arrive at an average figure. Specifically, let's explore good soccer tips the following article by Wintips!
Understanding Common Methods Bookmakers Use to Set Odds Nowadays
Bookmakers typically base their odds on many different correlating factors between two football teams. It's challenging to categorize them distinctly, but they can generally be divided into two groups: quantitative information and qualitative information.
Quantitative Information-Based Odds Setting
Quantitative information refers to data calculated based on statistics, measurable indicators through certain tools. Quantitative factors here imply things that can be measured or counted, helping us gain a more comprehensive and holistic view.
So, the method bookmakers use to set odds based on quantitative information is an objective evaluation based on available data. This data often includes recent performance records, the number of wins or losses at home/away, past head-to-head results, etc. From this, bookmakers assess the disparity in form between the two teams, who has the better record, and provide an estimated appropriate figure.
Qualitative Information-Based Odds Setting
In contrast to quantitative information, qualitative data relates to issues that cannot be quantified or measured. It includes factors such as pre-match rewards, or internal rumors and news leaks.
Qualitative information is not fixed, it can arise suddenly and is difficult to predict when it will happen. Therefore, bookmakers can only use some news at the time of setting the odds, then adjust accordingly based on the latest update trends.
Factors Influencing Odds Changes
In major matches, bookmakers often set odds very early. But for matches with less data, odds will be analyzed more carefully and appear later. In some situations, due to changes in non-fixed factors, bookmakers will also adjust to ensure the most reasonable odds before the match kicks off. Here are some factors that significantly influence odds fluctuations:
Recent Match Results
For highly anticipated matches, bookmakers' odds setting methods usually don't encounter many difficulties. Odds are set early, but it's not guaranteed they will remain the same until the match day. This could be because in the most recent match, the higher-rated team suffered a heavy defeat, raising doubts about their upcoming performance.
Maybe you should know : what's an asian handicap bet
Updated Injury List Injuries can significantly impact the performance of each team, especially those relying heavily on individual goal-scoring abilities. If unfortunately, a key player suffers a serious injury, the team might find itself in disarray, greatly reducing the confidence of bettors.
Sidebar Notes Sidebar notes provide qualitative information but have a significant psychological impact on individuals. This is often the reason why a team's performance declines when there's turmoil in the locker room.
Passive Factors In addition to the factors influencing bookmakers' odds mentioned above, there are other elements such as weather conditions, poor pitch quality, etc., that prevent players from giving their 100% during matches. Bookmakers certainly consider these situations when reassessing their odds.
Score manipulation, player bribes, influence from officials, referees, sponsorship influence... However, bookmakers seldom engage in such activities as they fear losing control to underground organizations involved in match-fixing. Not all bookmakers have the capability or willingness to do so.
For the most part, bookmakers aim to create a fair playing field for everyone. Therefore, such situations often require intervention from the teams themselves and sometimes other invisible hands. You probably already know whose hands those are.
Setting Traps to Lure Bettors (Trap Odds) These are called ODDS: A sneaky way for bookmakers to set football odds.
Players will notice attractive virtual odds almost immediately. Most of the time, these odds contradict the bookmakers' predictions, aiming to lure players into seemingly unbeatable bets. This affects the players' psychology.
You might think Team A is a sure winner. But if you see that the odds for Team B winning are much higher than usual and the bet amount required is less, you might hesitate and change your decision to bet on Team B.
As the match approaches, bookmakers will adjust the odds to lure players in. By the time you reconsider, you've already lost some money. This type of odds setting happens over a long period and often yields significant profit.
Timing Your Bet Appropriately Bookmakers may set the odds well in advance. However, players should only place their bets when the match is about to begin. This is when you have all the relevant information about both teams, match conditions, and many other external factors.
On the other hand, many experts advise placing bets either before or within 5 to 10 minutes after the match starts. This is the golden time to observe the players' mentality on the field and make the most accurate assessment of the odds.
So, you've just explored best betting tips app with Wintips how bookmakers set odds and the related factors. Hopefully, this information will help you understand more about football betting odds and choose the most suitable timing to place your bets for your own success!
