youtor.org
How Bookmakers Make Money
>> YOUR LINK HERE: ___ http://youtube.com/watch?v=UymP39GFm_E
We look at how bookmakers set their odds so that they would make money off the bettors. • A bit more on decimal and fractional odds: https://support.skybet.com/app/answer... • If you're too lazy to watch the whole thing, you can go to; • 0:00 for dice analogy (introduction), • 1:53 for dice analogy (trying to make money), • 3:08 for dice analogy (adjusting odds), • 7:12 for start on part about bookmakers, • 9:20 for implied probability and over-rounding, and • 13:25 for why bookmakers have to adjust odds. • Sources I used: • https://en.wikipedia.org/wiki/Mathema... • http://www.pinnacle.com/en/betting-ar... • http://www.oddsportal.com (where I took sports odds from) • http://www.mirror.co.uk/sport/row-zed... • https://en.wikipedia.org/wiki/2015%E2...
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