If you are new to the world of online sports betting, you may have experienced seeing the odds change without even any kind of notice. You place your bet on a certain player or team because of the good odds that would yield better profit should you win, only to see that
Bettors who do not have a deeper understanding of how odds work may get caught off guard when they see odds suddenly changing. Some even end up thinking that bookmakers cheat on them by suddenly changing the odds. However, it is not like that, and the changes in odds is a common practice in the world of sports betting.
Before you can understand why odds change, you must first understand the role of bookmakers and how they make their money from the world of sports betting. As you may have probably guessed, bookmakers are not charities–they also need to earn money by being the means to from people to bet on sports.
In the world of gambling, the revenue that is obtained by bookmakers is called the “juice.” This is the amount that they earn for every weather that a player makes. Thus, the more players bet on their site or app, the more they make money.
Each bookmaker works differently. One bookie may work for you, but it may not work too well for another. To find the best bookie for you, it is a good practice to read from good review sites like Efirbet. You can see reviews and recommendations for the best bookmakers from this site.
Here are some of the reasons why odds and lines change from time to time.
Setting the line
One of the reasons for the odds changing is that they need to “set” the line. Normally, there may be a team or player where people are expected to place their bets no matter what. Take, for example, a supposed boxing match between Floyd Mayweather and Justin Beiber. Anyone in the right frame of mind would place their bet on Mayweather winning, no matter how much of a big fan of Beiber you are.
Now, bookies will approach this situation like this: since it is evident that most bets would be for Mayweather, what they need to do is balance the odds by having players earn a way bigger profit if they bet on JB, and extremely less profit if they bet on Mayweather. This means that even if people bet on Mayweather more, the amount that they will give out is significantly less and thus the bookies still win at the end.
The casuals and the “sharps”
There are two kinds of bettors. One is the casual, a bettor who bets for the sake of betting, without nay pre-game study, without considering the odds, and without any expert knowledge of how things in sports betting works. The other one is called the “sharps,” or the people who are invested in sports betting that they research and consider all the factors before placing a bet.
The casuals are known to make smaller and less frequent bets, while the sharps are the one who influences the behavior of the odds a lot since they are the one who bet big and roll big on every game.
Player injuries (and other emergencies)
Another factor that changes the odds even at the last minute is the sudden changes in the playing condition of a team or an individual player. A top player can get injured and end up being benched for an entire game, therefore changing the chances for the team to win or lose the game.