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Floyd Mayweather vs Conor McGregor is August 26th 2017
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Teutatis Offline
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RE: Floyd Mayweather vs Conor McGregor is August 26th 2017
Muchos thanks for the explanation, that's far simpler than I thought it was. So if I wanted to make $1000 I'd have to either bet $7090 on Floyd to win or $200 on Conor to win. Basically you have to risk a lot of money to make just a little (compared to the initial bet) on the one that has the highest probability of winning, or risk very little to make quite a lot (compared to the initial bet) on the one with the lowest probability to win, makes perfect sense and these odds tell us the professionals are way more rational than the die hard Conor fans.

Just out of curiosity, who creates these odds, is there a bookie organization of some sort that gets together and decides what the odds are going to be? Are bookies required to take any and all bets? What if it happens that everyone bets on the same guy and that guy wins, who pays for all these bets? Can a bookie go bankrupt and default on payments if a highly unlikely event like this ever happens?
(This post was last modified: 06-16-2017 08:40 PM by Teutatis.)
06-16-2017 08:39 PM
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RE: Floyd Mayweather vs Conor McGregor is August 26th 2017 - Teutatis - 06-16-2017 08:39 PM

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