Very precise betting odds.

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Leodian
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Very precise betting odds.

Postby Leodian » Fri 07 Dec, 2018 11:47 pm

I don't bet so I rarely ever notice betting odds for sports events. On looking at a preview in the YEP today (Dec 7 2018) of tomorrow's Leeds United v QPR match I happened to notice that the odds for QPR to win were 96/19. Even the 31/10 for a draw looked odd to me and also the 8/13 for a Leeds win. Are mathematically simpler calculable odds such as say 2/1 or 5/2 used nowadays? :o
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tyke bhoy
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Re: Very precise betting odds.

Postby tyke bhoy » Sat 08 Dec, 2018 8:19 am

The simple answer is yes they do. However the most prominent display of those is about disappear as advertising during games, and I assume that means half time too, is being voluntarily removed by the industry (before it was enforced).

I think the "simple set" of odds was probably developed on racecourse to restrict the tic-tac signals required. Originally of course betting shops probably stuck with them to reduce the risk of misunderstanding over telephone conversations. Now even the racecourse bookies will be wired up to computers that calculate odds so no need for the limit. You will also see odds displayed as decimals rather than the ratio/fractions in places.
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Leodian
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Re: Very precise betting odds.

Postby Leodian » Sun 09 Dec, 2018 3:06 pm

Thanks tyke bhoy for your help which is appreciated :).

Apologies for going somewhat off thread but taking of odds reminded me of something from 1967! My mum used to occasionally place an each way bet at Fred Scholey's bookmaker on Osmondthorpe Lane. There was a football match at Elland Road that day and as I was going out my mum said she was going to do a 1/- (1 shilling, now 5p) each way bet on Foinavon (she said she liked the name :)) in what became the famous Grand National race that day. On hearing at the football game that Foinavon had won at 100 to 1 that was great news. Alas, on getting home I found she had changed her mind and put the 1/- each way bet on another horse (I don't recall which).
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volvojack
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Re: Very precise betting odds.

Postby volvojack » Sun 09 Dec, 2018 5:35 pm

"Bookmaker" just by the very name means to take peoples money on events, mainly Horse Racing and whatever the result they did not lose. Years ago you could go to Race Courses I.E. York, Pontefract or Doncaster and there would be 20 or more Bookmakers stood on their stands with a list of the forthcoming race.As the time approached they would offer odds to entice you to bet. They would give out a ticket with every bet you placed and they would also call out that bet/odds and amount of money taken to his clerk. He was extremely important as his job was not only to record the bets but balance them as well. That is why you ( The Punter ) could sometimes go up and down the line, maybe get a fraction more odds on a Horse from a Bookie than another. That would be because he would be looking for a few more quid to balance his book, on the advice of his clerk.
Once the "Big Boys" got in, the Fred Scholeys, the Jim Windsors and the Denis Burton etc, had their day. Nowadays you cant even go in to and ask to place more than about £20 without the person behind the counter having to phone Head Office before they can accept it.
As for the ludicrous offers as Leodian quoted they have become quite common


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