As I've said many times, posters seem to have a stereo type outlook of Bookmakers and Bookmaking and assume certain rules apply. Rather than carry on guessing or being under the wrong impression, I'm sure Posters other than myself with Bookmaking experience will answer any questions about the more finer points.
One thing that stands out is the different mentality of American and European Betting, this is because American Bookmakers and Bettors have generally been brought up on Two way Events where Europeans have been fed 3 and upwards due to Soccer and Horse Racing being the main attractions. Technically and Mathematically there shouldnt be any difference in the approach to either but its almost a mirror image. Because Americans play exclusively Two way games its Human nature to lean to one side be it Bookmaker or bettor and act accordingly, the British on the other hand are always wary of other pitfalls, especially as the number of contestants goes up. This leads to American betting being more competative and Bettors seeing the best price as an advantage to be taken, whereas the British mentality is whatever the worst price is, is probably where it is going.
Neither of these are wrong but its nice to know why certain Books do certain things as opposed to the general thinking that slow Books dont know what their doing. This leads to another difference where Americans see betting very fluid as in line movement creating a different scenario whereas the british see it the same as it started only a cost added. For example, Americans see a slow book as being on the wrong side of a price but the Book sees it as the Bettor paying a premium on the original view.
Its worth posting any questions on Bookmaking ETc as its more important to the majority on here than whether Beantown Jim gets a Job or not. Plus there are plenty of good experienced Posters who can answer specific questions. :drink:
An example of this is when a Book is going +100 and -110,
One thing that stands out is the different mentality of American and European Betting, this is because American Bookmakers and Bettors have generally been brought up on Two way Events where Europeans have been fed 3 and upwards due to Soccer and Horse Racing being the main attractions. Technically and Mathematically there shouldnt be any difference in the approach to either but its almost a mirror image. Because Americans play exclusively Two way games its Human nature to lean to one side be it Bookmaker or bettor and act accordingly, the British on the other hand are always wary of other pitfalls, especially as the number of contestants goes up. This leads to American betting being more competative and Bettors seeing the best price as an advantage to be taken, whereas the British mentality is whatever the worst price is, is probably where it is going.
Neither of these are wrong but its nice to know why certain Books do certain things as opposed to the general thinking that slow Books dont know what their doing. This leads to another difference where Americans see betting very fluid as in line movement creating a different scenario whereas the british see it the same as it started only a cost added. For example, Americans see a slow book as being on the wrong side of a price but the Book sees it as the Bettor paying a premium on the original view.
Its worth posting any questions on Bookmaking ETc as its more important to the majority on here than whether Beantown Jim gets a Job or not. Plus there are plenty of good experienced Posters who can answer specific questions. :drink:
An example of this is when a Book is going +100 and -110,
I'm off to bed now, played Detroit in running at a nice price but bottled out just after HT, still a small profit is better than a big loss. :drink:
