Question by John M: How do bookies/bookmakers change odds?
When bookies make their book for example college basketball, and the bookie has all the bets on one team and none on the other and he changes his odds to +4,-4, from +2, -2, wouldn’t he lose all the money in the book if the score was 80-83?
Answer by samstaffen
well they start with certain odds. then some bets are made. if too many people are betting the same side then they change the line to even it up to where just as many people are betting both ways. that way they can consistantly get the ten percent from the losers. this means they take roughly 5% of the total money bet.
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