Majority of the bookmaking companies are hiring team of odds compilers. These are people in charge of setting the lines and odds and are oftentimes, intelligent in what they do. Despite the fact that they are using complex software to assist them, still they need to have deep knowledge of the sports that they’re covering. Bookmaking firms also prefer if odd compilers are mathematically inclined.
Basically, there are several aspects that influence odds compilers as they are pricing their lines and opening odds. As we move further, you are going to find out the most important elements of setting the odds.
Oftentimes, odd compilers already have an idea of their customer’s betting patterns and behavior. They are factoring this as well in making their lines and odds. As a result, it allows them to make the most of the ROI while reducing risks at the same time. If they are expecting more than the average bettors to play, then they are reducing the odds to the favorite.
They know that they are still taking lots of bets on every selection and so, they are making the odds a bit lower to save money in the process. After all, the lower the odds are set, the lower they need to pay if the favorite wins.
Attention to Details
Compilers thoroughly look at the betting activity when setting totals and point spreads. If they are expecting that the betting market will be going strongly on the favorite, then they will definitely increase the spread by more than half point.
On the other hand, if they are expecting that the general public will be behind the over, which they normally do; they’re increasing the totals line by 2 or more points.
Lines and Odds from Competing Market
The introduction of online betting literally changed the way people bet. One noticeable change is on the number of bookmakers used by people. Before, majority of the bettors only have a couple of bookmakers for their betting activities.
But all of this was a thing of the past. Even though some bettors are still loyal to a certain bookmaker, a lot of them go wherever that offers the best deal. The fact that it is fairly simple to create accounts at multiple betting sites, this is extremely easy to do.
This is the thing why many odd compilers need to be extra competitive and keener to details if they want to stay in business and want to lose customers. If they ought to run several promotions such as casino bonus and whatnot, it should be taken into consideration.