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Floyd Mayweather vs Conor McGregor is August 26th 2017
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Robin
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Post: #94
RE: Floyd Mayweather vs Conor McGregor is August 26th 2017
(06-16-2017 10:50 PM)Teutatis Wrote:  This is fascinating, so the initial odds are created by the experts (who no doubt make tons of money for doing this) and then as people start betting the odds change to reflect how people are betting?

Let's say for argument's sake that the initial odds were -100 for Floyd and +100 for Conor and I made a bet on Floyd, but then as time passed the odds changed for the -709 +500 we see today, would my bet still reflect the -100 (the odds at the time I placed my bet) or would it be -709 (the current odds)? How often are the odds updated, weekly, daily, hourly? And are the odds changing depending on the number of people that bet on one side or the other, or are they changing with the dollar amount?

Yeah, and the odds can change instantly. If you ever go to a sports book, you'll see odds being updated constantly (mostly for active events though). The dollar amount is more important because everyone will place different sized bets.

Any bet you place is locked in, so if you happen to get favorable odds that later change, then consider yourself lucky. But it cuts both ways: imagine you placed a bet on Mayweather thinking he's a sure thing, and then he ends up getting food poisoning an hour before the fight.

That goes to show how much power you'd have if you knew something that other people didn't know or if you could somehow influence the outcome of the event without anyone finding out.
06-17-2017 10:25 AM
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RE: Floyd Mayweather vs Conor McGregor is August 26th 2017 - Corollary - 06-17-2017 10:25 AM

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