How do Bookmakers monitor and change odds with so many games?

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barnstorm
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barnstorm

How do Bookmakers monitor and change odds with so many games?
« on: October 31, 2016, 01:49:24 PM »

How do Bookmakers monitor and change odds with so many games? No way a human ,even with a staff could stay on top of all the changes and money flow.

Is it done automatically with software to balance their action?

Maybe some just monitor Pinnacle and let them do the work? Although their handle may be quite different and they might have to manually adjust accordingly?
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dejected
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dejected

Re: How do Bookmakers monitor and change odds with so many games?
« Reply #1 on: October 31, 2016, 04:42:43 PM »

I think most sports prices come out of mathmatical models these days, change the inputs to the model and all the prices update automatically.
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Zizou79
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Zizou79

Re: How do Bookmakers monitor and change odds with so many games?
« Reply #2 on: October 31, 2016, 06:16:39 PM »

They use various tools, both to monitor as well as change the odds. With regards to monitoring, there are services offered by companies like Betradar, Betgenius, etc or like the previous users said, using Pinnacle or other Betfair as their main reference point. Also, depending how much money they see, they would change the odds accordingly without looking at what other bookies are doing.

Also, like the previous users said, most submarkets are basically in the form of a spreadsheet. For example, in soccer, each submarket is a formula (mainly Poisson) which is generated by the Goal Supremacy which creates the odds for correct scores, and this in turn creates the odds for all the other submarkets. In short, through a set of algorithms, by changing the 1x2 and/or Under Over odds, all other submarkets re changed automatically.
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maletaja
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maletaja

Re: How do Bookmakers monitor and change odds with so many games?
« Reply #3 on: October 31, 2016, 08:27:45 PM »

I think its quite easy you have some basic model. 2.5goals per match,10 cards per game,0.2 red card per match etc. All that numbers are covered some Poisson distributions+specific adjustments. Bookies probably are buying data from betradar,betgenius or watching manually pinnacle for reference
At first you add 10% juice and monitor betsizing. And you control nicely all data
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