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What do bookies base their odds on?


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Old 03-02-2015, 09:51
Sharona68
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I am flabbergasted that KH is favourite to win and am curious as to how bookmakers come up with the odds.

She's a vile excuse for a woman and her arrogance is mind-blowing.

If it's based on public opinion, then I am shocked that anyone (other than her family) would think she was a worthy winner and I would question their own morals. They must be of a similar ilk.
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Old 03-02-2015, 09:55
jojoeno
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Ive always had a suspicion that some Bookies have access to inside info on voting trends and patterns not only on this show but the likes of X Factor,BGT the Voice etc
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Old 03-02-2015, 09:56
jimdan
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The "odds" are simply a reflection of the amount of hard cash that the public are prepared to bet on KH to win.

Lowest odds means that more money changed hands over Katie's success than any other housemate.

Betfair has £267,000 on Katie and just £14,000 on Kavana, for example
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Old 03-02-2015, 10:05
Sharona68
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The "odds" are simply a reflection of the amount of hard cash that the public are prepared to bet on KH to win.

Lowest odds means that more money changed hands over Katie's success than any other housemate.

Betfair has £267,000 on Katie and just £14,000 on Kavana, for example
So presumably they would all start with similar odds until the betting public started placing bets?

WOW - there are a lot of people like KH at large. Scary thought.
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Old 03-02-2015, 10:10
Dave_62
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I am flabbergasted that KH is favourite to win and am curious as to how bookmakers come up with the odds.

She's a vile excuse for a woman and her arrogance is mind-blowing.

If it's based on public opinion, then I am shocked that anyone (other than her family) would think she was a worthy winner and I would question their own morals. They must be of a similar ilk.
They base it on the plans of Malaysian betting syndicates.
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Old 03-02-2015, 14:46
An Thropologist
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So presumably they would all start with similar odds until the betting public started placing bets?

WOW - there are a lot of people like KH at large. Scary thought.
Never fear Sharona. Lots of people betting on an individual or entity does not indicate fondness, approval or agreement.

It just means that a lot of people think she will win (irrespective of it being morally justified) or a few people are prepared to risk a lot of money in the expectation of her winning.

No need to be dismayed it doesn't mean our sense of right and wrong have gone to hell in a hand cart..
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Old 03-02-2015, 14:49
Monty_Brewster
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It's based on watching the show impartially and seeing that Katie is popular in the house, is funny and has contributed to plenty of coverage.
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Old 03-02-2015, 14:54
Sharona68
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It's based on watching the show impartially and seeing that Katie is popular in the house, is funny and has contributed to plenty of coverage.

She might be popular in the house, bizarrely, but the housemates aren't voting are they.

If sensibility prevails with the voters, then neither KH nor Perez will win. So then surely it's a waste of money betting on either of them?

But if either of them do win, then it's a really worrying thought that people would have voted for such an outcome. In my opinion.
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Old 03-02-2015, 14:57
clara28
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It's based on watching the show impartially and seeing that Katie is popular in the house, is funny and has contributed to plenty of coverage.
Word of advice; you'd make a useless bookie.
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Old 03-02-2015, 15:03
An Thropologist
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It's based on watching the show impartially and seeing that Katie is popular in the house, is funny and has contributed to plenty of coverage.
LMSO.

Is it heck as like.
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Old 03-02-2015, 15:06
seansnotmyname@
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The "odds" are simply a reflection of the amount of hard cash that the public are prepared to bet on KH to win.

Lowest odds means that more money changed hands over Katie's success than any other housemate.

Betfair has £267,000 on Katie and just £14,000 on Kavana, for example
Yeah this, it's not that hard to work out, they lower odds on the basis of how much money they'll lose, and they'll push out odds of people that aren't attracting money. That's what bookmaking is.

So presumably they would all start with similar odds until the betting public started placing bets?

WOW - there are a lot of people like KH at large. Scary thought.
Off course they'll all take a stance at the start, based on popularity and fame, it would be called "form" I guess for sports, but it's where the money is going that matters.

Should be said that reality TV is quite an odd case though, because people betting on it, can actually effect the result, by voting, so those that attract a lot of money will have and advantage. Plenty of alleged betting coups have been done on BB in the past.
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Old 03-02-2015, 15:15
joeinpoole
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She might be popular in the house, bizarrely, but the housemates aren't voting are they.

If sensibility prevails with the voters, then neither KH nor Perez will win. So then surely it's a waste of money betting on either of them?

But if either of them do win, then it's a really worrying thought that people would have voted for such an outcome. In my opinion.
A good gambler is looking for odds that in their own opinion do not reflect the actual probability of that outcome.

For example today I placed a bet on Perez at 6/1 with Betfair Exchange. Personally I can't stand Perez but I do think that sufficient of the voting public consider him to be entertaining enough to ensure he will make the final 2 or 3. If so his odds will come tumbling down and hopefully I will then be in position to cash-out at a decent profit.

The dark horse for me is KP. She's been fairly dull to watch as a HM but historically she does have a considerable fan base who avidly watch her and buy her books, perfume, etc.

I think the final 3 will be KH, KP & Perez ... but the odds suggest that Cheggars is well in the mix.
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