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Post by dorothy on Jul 2, 2007 15:22:05 GMT
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Post by dorothy on Jul 2, 2007 15:24:27 GMT
Question for Dazza. How can two teams, playing each other, both be odds on to win? Stalybridge V Nuneaton on the 18th.
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Post by andy on Jul 2, 2007 16:36:42 GMT
That has absolutely nothing to do with the fixtures.
It is an opportunity to bet on who will finish higher at the end of the season - Worcester or Workington - with the odds being valid until before kick-off on 18th Auguest.
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Post by darrellbutler on Jul 2, 2007 22:05:45 GMT
Question for Dazza. How can two teams, playing each other, both be odds on to win? Stalybridge V Nuneaton on the 18th. As Andy says, these aren't the fixtures but the same applies; To try to ensure a profit the Bookmakers will bet 'over round'. Example: The chance of rolling a particular number on a die would be one in six. This would generate fair odds of 5/1 on each number. To try to ensure a profit the bookies will reduce the odds to, say, 4/1. The probability of rolling a one is 16.67...%, but with odds of 4/1 the bookie is suggesting that the probability is 20%. If you add this up over the six possible outcomes you get the true probability being, obviously - 16.67% * 6 = 100% The bookies' odds suggest that the overall probability is 20% * 6 = 120%. In this case the book is over round by 20% - that is to say that the bookie would expect to make a twenty per cent profit on turnover. In the case of Nuneaton - Stalybridge, the bookies clearly believe the chances of one finishing higher than the other are even but if they were to offer odds of evens on both teams they would make no profit, therefore they have reduce the odds on both teams to 5/6, this generates an over-round of 109.09%. i.e. for every £1 a bookie pays out, he would expect to take £1.10. A classic example of this is the pathetic book Corals open every time England play a cricket match: WHO WILL WIN THE TOSS: England 10/11 Other team 10/11 Why anyone would ever bet on that I don't know. |
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