book makers

[tallpaul04]

the galway races are just over I don't have much interest in horses but this week has got me thinking about how the bookies operate? they don't just pluck odds from thin air, there must be some mathematical formula they use to insure they rarely ever lose!! can anyone recommend a good website or book where I could research this

 

[Protocol]

Small bookies take the odds straight from larger bookies, e.g. maybe from PaddyPower or a large Irish or UK firm.

 

[Bob the slob]

It is based on loads of different factors like the horses form (how many wins loses falls etc in the last few races, size up the horse against the competition in the race, how many bets are placed on the horse etc.

It isnt just one factor that decides the odds of the horse, its numerous. Google "how bookmakers calulate odds" and you are sure to get something on it.