It’s no surprise to see how important the odds are for frequent punters, as they’re an indication of how likely each bet is to land, and they’re also a way of determining how much money your bet could win. There’s no way of knowing what exactly will happen in any sporting event but these bookmaker odds are formed through an extensive array of attributes, all with the intention of working out what chance each outcome has.
The chance to gamble in any capacity is based around the odds provided on each betting market and every outcome that you might be placing money on. It even helps when choosing the right bookmaker out of the many options, as most punters are likely to go with the one who offered the biggest price on the bets that they were originally looking to make.
Fluctuations in the market lead the daily odds for sports to changing drastically in either direction, so it can be hard to know whether you’re betting on something which became more or less likely to happen than when the bookie first priced it up. This is where websites like Oddschanger specialise, with an emphasis on how the odds have changed on all available australian sports betting markets and how it affects your chances. Through keeping tabs on the changing odds, you’ll boost your hopes of taking big odds for potential winners, but there’s no way of working out what will happen for definite, or everyone would do it.
How are odds decided?
There are a lot of different variables that play a part in deciding the odds on each market. Bookmakers will look into the record of both sides in the competition they’re playing in, their current form at home and away, and how they’re expected to perform against the side they’re facing. This is important, as an expected winning result for the home side will be far less likely if they’re playing host to a far superior side. Daily odds are available several weeks – sometimes even months – prior to the fixture getting underway, so the odds can get larger if the team you’re looking to back play poorly in the run-up.
After assigning the daily odds for each market based on reasoning and statistics, the prices can change just as easily. This happens not just due to each team’s form, but also any other attribute which has a clear influence, like if a key player is sold or out injured for the team you’re backing, or if the team you’re backing only played a couple of days earlier. A lot of bookmakers will share a similar price, so it’s rare that you’ll see a few bookies with a 4/6 price but one with a far larger 9/1 price for the same market without it being an enhanced offer.