Question by hit_man1: how do bookmakers come up with odds for sports events?
how do they decide who is favored to win and by what odds? also, what do the odds mean? For example, if you say theyre 3/1 favorites, what does that mean?thanks!
Answer by Rhiannon T
first 3/1 favorite means that if you bet 3 dollars and you win you will win one dollar. and if you lose you lose 3 dollars. book makers work different in different countries. in the states casinos hire people to figure the odds, and as things change so does the line, in England it all depends the number of bets, if more people are favoring one then the line changes to represent this.
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