Why are the odds on Paddy Power different on-line?

Freiheit

Placed a bet on Muchael D yesterday,on-line he is 1/2,was yesterday and still is. In the office he was 4/9. Is this difference normal and if so why?.

jor el

Online Buying & Auctions? Thread moved to Gambling.

premierstone

Freiheit wrote: »

Placed a bet on Muchael D yesterday,on-line he is 1/2,was yesterday and still is. In the office he was 4/9. Is this difference normal and if so why?.

Probably offer the better odds online because the likes of oddschecker will show this price whereas someone just going into the shop wont bother comparing with other bookies

the groutch

hoe long between when you checked? that is quite a volatile betting market

padraig_f

I don't know anything about PP's internal operations but there is generally an incentive to set different prices in street bookies compared to online.

Bookmakers set their prices to balance the action rather than the expected result. So if they're expecting a lot of action on a particular entrant, they'll reduce the odds on that entrant below the true odds, to balance the action and reduce their exposure.

People going into street bookies tend to be older on average than online punters, Michael D Higgins attracts older supporters. So it makes sense that he'd be at a shorter price in the street bookies. Even though it's the same company, I'm presuming their using some kind of franchise model, which would mean their street bookies would have slightly different interests to the online branch.


Another example of this effect: Bob Dylan was bookies favourite to win this year's Nobel prize for literature. But it didn't mean he was the true favourite, it's probable that his price was reduced below the true odds because he's a very well-known name, compared to some of the other writers. A Swedish poet named Tomas Transtroemer won the prize today.

okidoki987

4/9 against 1/2?
I'd say it was a mistake.
They wouldn't bother enhancing an odds shot in a thing like that.