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Why are bookies' odds so similar?

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poiuyt
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Why are bookies' odds so similar?

Tue Aug 03, 2021 4:50 pm

Say someone puts a 10K on Betfair and the odds change Betfair, then they will also change on Pinnacle. But Pinnacle only cares about balancing its book so why would they change their odds based on a bet in Betfair?
DPG
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Re: Why are bookies' odds so similar?

Tue Aug 03, 2021 7:58 pm

betfair use bots all throughout the exchange and lay off any bets with pinnacle.
DkStyle
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Re: Why are bookies' odds so similar?

Thu Aug 05, 2021 12:39 pm

poiuyt wrote: Say someone puts a 10K on Betfair and the odds change Betfair, then they will also change on Pinnacle. But Pinnacle only cares about balancing its book so why would they change their odds based on a bet in Betfair?
Trying to balance the book is something from 10+ years ago. Today all bookies just buy their odds from a provider that auto feeds the odds into their system. Thats why they all have almost the same odds, and all move within seconds of eachother. This even goes for the exchanges like Betfair, where they pay a provider to provide the odds for markets, so they do not have a lot of markets with no odds.

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