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Is that so? The USA Today article clearly mentioned Pacquiao as an 8-5 favorite over Mayweather.Quote:
Originally Posted by killersheep
You are misinterpreting the odds that is the payout.Quote:
Originally Posted by fanjohn
PAC @ +160 (8/5)
PBF @ -160 (5/8)
means Floyd is the favorite.
"Pacquiao, coming off his dominating win over Miguel Cotto, opened as an 8-5 favorite at sports books operated by Station Casinos"
Source link: Fight not made, but betting line is - USATODAY.com
Don't think thats right. They open based on the most likely outcome, they are then adjusted over time based on changing factors and on the money wagered on each man.Quote:
Originally Posted by Kirkland LaingBetting odds reflect how much money is going on each fighter, that's it. The odds aren't designed to reflect the actual odds of victory of a person/horse/whatever, they're designed to make the person offering the odds a profit no matter what the result.Quote:
Originally Posted by JazMerkin
That's a horrible opening line. That probably explains thisQuote:
Originally Posted by fanjohnIs that so? The USA Today article clearly mentioned Pacquiao as an 8-5 favorite over Mayweather.Quote:
Originally Posted by killersheepYou are misinterpreting the odds that is the payout.Quote:
Originally Posted by fanjohn
PAC @ +160 (8/5)
PBF @ -160 (5/8)
means Floyd is the favorite.
"Pacquiao, coming off his dominating win over Miguel Cotto, opened as an 8-5 favorite at sports books operated by Station Casinos"
Source link: Fight not made, but betting line is - USATODAY.com
Station Casinos Loss Balloons On Bankruptcy Effects; Rev Down - WSJ.com
But let's just make it clear that they really installed Pacquiao as the early favorite to defeat Mayweather.Quote:
Originally Posted by killersheepThat's a horrible opening line. That probably explains thisQuote:
Originally Posted by fanjohnIs that so? The USA Today article clearly mentioned Pacquiao as an 8-5 favorite over Mayweather.Quote:
Originally Posted by killersheep
"Pacquiao, coming off his dominating win over Miguel Cotto, opened as an 8-5 favorite at sports books operated by Station Casinos"
Source link: Fight not made, but betting line is - USATODAY.com
Station Casinos Loss Balloons On Bankruptcy Effects; Rev Down - WSJ.com
They open with the odds most likely to take as much of the initial money as possible at odds that most favour the bookmaker. That may or may not coincide with most likely outcome, but what it always coincides with is potential profit maximisation. There's a good book about oddsmaking and how Las Vegas works that was written by a guy called Jimmy the Greek, who was a famous Vegas oddsmaker back in the day. It's a cracking book for anybody interested in this kind of thing if you can still find a copy. I don't bet a lot myself but I know people who do and I've learnt quite a bit about how the betting game works one way or another over the years.Quote:
Originally Posted by ryanmanDon't think thats right. They open based on the most likely outcome, they are then adjusted over time based on changing factors and on the money wagered on each man.Quote:
Originally Posted by Kirkland LaingBetting odds reflect how much money is going on each fighter, that's it. The odds aren't designed to reflect the actual odds of victory of a person/horse/whatever, they're designed to make the person offering the odds a profit no matter what the result.Quote:
Originally Posted by JazMerkin
The reason he's favourite is because he's big in Asia and well over half of the biggest individual gamblers in the world are Asian, particularly Chinese. These are guys who are guaranteed to drop at least a million dollars a time when they visit Vegas, guys who get free room, free butler service, free everything when they visit Vegas. Free private flights to and from in some cases. People who bet serious money year after year, and they love Manny, so Vegas welcomes these guys with open arms. The bookies are protecting themselves with those odds as they're going to be deluged with Asian money on Manny to win when the fight is made. The Asian betting money will make a nonsense of the odds altogether. If betting hadn't become globalised due to the internet I'd bet money that Mayweather would be favourite with British bookies, but seeing as they're all global players based in Gibraltar now they probably attract plenty Asian money too. All the way up to the fight the Asian money will distort the odds.Quote:
Originally Posted by fanjohnBut let's just make it clear that they really installed Pacquiao as the early favorite to defeat Mayweather.Quote:
Originally Posted by killersheepThat's a horrible opening line. That probably explains thisQuote:
Originally Posted by fanjohn
Station Casinos Loss Balloons On Bankruptcy Effects; Rev Down - WSJ.com
That could be possible tho Asian money didn't made a dent in the Pacquiao-DelaHoya fight since Pacquiao remained a 2-to-1 underdog on fight night.Quote:
Originally Posted by Kirkland LaingThe reason he's favourite is because he's big in Asia and well over half of the biggest individual gamblers in the world are Asian, particularly Chinese. These are guys who are guaranteed to drop at least a million dollars a time when they visit Vegas, guys who get free room, free butler service, free everything when they visit Vegas. Free private flights to and from in some cases. People who bet serious money year after year, and they love Manny, so Vegas welcomes these guys with open arms. The bookies are protecting themselves with those odds as they're going to be deluged with Asian money on Manny to win when the fight is made. The Asian betting money will make a nonsense of the odds altogether. If betting hadn't become globalised due to the internet I'd bet money that Mayweather would be favourite with British bookies, but seeing as they're all global players based in Gibraltar now they probably attract plenty Asian money too. All the way up to the fight the Asian money will distort the odds.Quote:
Originally Posted by fanjohnBut let's just make it clear that they really installed Pacquiao as the early favorite to defeat Mayweather.Quote:
Originally Posted by killersheep
British odds for Pacquiao-Mayweather is already posted in this thread and Mayweather is the early favorite in British betting odds. Isn't it odd that Mayweather, an American is favored in Britain/Europe while Pacquiao, a Filipino is favored in America?