it doesn't really work like that for most markets

UK bookies (even the biggest like bet365 or the markets on betfair) base their odds on the Asian bookies, which are taking in bets worth many millions even for relatively small markets (if they didn't then there would be arbitrage opportunities snapped up in minutes).

The main players on the Asian markets are betting syndicates (e.g smartodds), which have vastly complex forumlas and algorithims, taking into account thousands of factors. So these are effectively driving the UK odds and are very accurate.

The only exception is on really big markets (e.g. Man Utd v Liverpool or World Cup winner), where the money taken from 'high street' bookies will come close to matching that placed by the syndicates.

Posted By: Mecagoenti, May 6, 14:46:18