The way bookmakers set odds might be unknown to many, even to those with years of experience in sports betting. In reality, bookmakers also use similar methods to assess odds as players do, by comparing the relative strengths of the two teams to come up with an average figure. For more details, please follow the article below from bet win tips!

Understanding Common Methods Bookmakers Use to Set Odds

Bookmakers typically base their odds on various comparative factors between the two teams. While it is challenging to list everything clearly, it can generally be divided into two different groups: quantitative information and qualitative information.

Setting Odds Based on Quantitative Information

Quantitative information is defined as data calculated based on statistics and measurable indicators through certain tools. This type of information implies that it can be measured and weighed, giving us a comprehensive overview.

Thus, setting odds based on quantitative information means objective evaluation based on available data. This data usually includes recent performance, the number of home or away wins or losses, past head-to-head results, etc. From this, online bookmaker offers will consider the relative performance differences between the two teams, who has a better record, and come up with an appropriate estimate.

Setting Odds Based on Qualitative Information

Unlike quantitative information, qualitative data relates to issues that cannot be measured or weighed. In simple terms, factors such as awards given before the match or leaked internal conflicts fall into this category.

Qualitative information is not fixed, can occur suddenly, and is unpredictable. Therefore, bookmakers can only use certain news at the time of setting the odds and then adjust according to the latest updates.

Factors Influencing the Change in Odds

In major matches, bookmakers often set the odds very early. But for matches with less data, the odds will be assessed more carefully and appear later. In some situations, due to the change of non-fixed factors, bookmakers will adjust to ensure the most reasonable odds before the match starts. Here are some factors that significantly affect the rise and fall of odds.

Latest Match Results

For matches that attract a lot of attention, setting odds is usually not too difficult for bookmakers. Odds are set early but are not guaranteed to remain the same until match day. This might be because the higher-rated team lost heavily in a recent match, raising questions about their upcoming performance.

Updated Injury List

The injury list significantly impacts each team's performance, especially for clubs relying heavily on the scoring ability of a particular player. If this player suffers a serious injury, the team will be greatly weakened, reducing the credibility of the odds set earlier.

Off-Field Information

Off-field information is qualitative but severely affects individual psychology. This is why a team's performance often declines when there is internal discord in the locker room.

Passive Factors

Besides the above factors influencing how bookmakers set odds, there are other elements like weather conditions, poor field conditions, etc., that prevent players from performing at their best. Bookmakers will certainly consider these scenarios to reassess the odds.

Evaluating the Right Time to Bet

Bookmakers can set odds on the betting board long before the match takes place. However, players should only place bets when the match is about to start. This is when you have all the related information about the two teams, the match conditions, and other external factors.

Moreover, many experts recommend placing bets 5 to 10 minutes before or after the match starts. This period is considered golden to observe the players' spirit on the field and make the most accurate betting decision.

Through this article, Wintips has explored how betting sites greece set odds and the related factors. We hope this information helps you understand more about football betting odds and choose the most appropriate betting time to bring yourself victory!