Changing the odds.

tommylizard

just a quick question for those who know such things. how much money does it take to change the odds? before kicking king ran last thursday he was around 25's on PP for the gold cup. after a good run his odds were cut right down to 14's. i assume a lot of people (like yours truly) waited to see how he ran before they took the ante-post odds and was wondering how much would have been put down to warrant such a cut? a friend of mine said it was in the region of 10,000 to move 1 point - is he right?

meriwether

Not a single penny would have been laid on KK to cut him from 25-14/1.
The Gold Cup market would have been suspended pre-race, and re-introduced once the race over.
New odds of 14/1 were then available. This was a price change by bookmakers, because quite reasonably, they were unwilling to offer 25/1 on a Gold Cup and twice Kinf George winner who had just ran a very good race.

Now, prices changes down to money depend on the bookmaker.
Boylesports, for instance will probably cut a price from 5/1 into 5/4 favoutite upon receiving €6.89, a button, and a packet of furry fruit loops.

In theory, Ladbrokes lay 100k per price cut.
This is highly unlikely in practice however, unless its a huge market, i.e. World cup/Grand National.

knighted

there is no specific amount of money that will cut odds -a bookmaker will adjust odds on horses in a race when the money put on any particular horse will affect the percentage outcome or the overround of the book -as each race run has a totally different amount of money wagered on it ,its impossible to say an exact figure that will shift the odds -in theory for every price cut in a race ,another horse will have to be lenghtened in price to compensate or even the book -

now adays you arnt betting against the bookies ,all they want now is a percentage of turnover ,like the tote who make 20% of everything wagered -

bookies are all hooked up to exchanges and have there own trading rooms etc so if pp turnover 100k a day and they want a 10% return ,and you stroll in with 10k on a 10/1 shot obviously theier odds will be cut but the cut is more noticable thru out the market because they pass the bet on to try to protect thier percentage (business margin)

punchestown

meriwether wrote: »

Now, prices changes down to money depend on the bookmaker.
Boylesports, for instance will probably cut a price from 5/1 into 5/4 favoutite upon receiving €6.89, a button, and a packet of furry fruit loops.

That would be €6.89, a button and a packet of furry fruit loops win only! No each way bets!

Tried having an average sized e/w wager on a 7 runner race today (not even a bad e/w race by their standards) and was told win only. Could have gone to any number of other bookmakers who would have accomdated but was in the area near the time so stuck around. Horse was unplaced! Thanked the girls on counter as I left!

Colonel Sanders

Boyles are a joke, wouldn't even class them as a bookmaker.

Leon Blance should be gelded.

meriwether

Colonel Sanders wrote: »

Boyles are a joke, wouldn't even class them as a bookmaker.

Leon Blance should be gelded.

They are a slot machine company minus (as of now) the slot machines.