Two Ways Bookmakers Set Odds and the Influencing Factors

Two Ways Bookmakers Set Odds and the Influencing Factors

The way bookmakers set odds is something very few people know about, even those with years of sports betting experience. In reality, bookmakers often use similar assessment methods to punters—comparing the relative strength of the two teams to come up with an average figure. In this article, win tips will take you through the details.

Common Methods Bookmakers Use to Set Odds

Bookmakers’ odds-making process usually relies on many comparative factors between two teams. While it’s hard to list every element, they generally fall into two main categories: quantitative information and qualitative information.

Setting Odds Using Quantitative Information

Quantitative information refers to data calculated from measurable statistics, usually generated by specific analytical tools. These factors can be weighed and compared, allowing for a broader and more objective view.

which bookmaker is the best set odds using quantitative data, they rely on available numbers to make unbiased evaluations. This may include:

Recent match results

Win/loss records at home and away

Head-to-head results in the past

From here, bookmakers analyze performance gaps, identify which team has better form, and then estimate suitable odds.

Setting Odds Using Qualitative Information

Unlike quantitative data, qualitative information involves non-measurable factors. Simply put, these could be things like pre-match award ceremonies or leaked reports of internal disputes.

Qualitative information is unpredictable and can appear unexpectedly. Therefore, bookmakers can only incorporate certain pieces of this data when initially setting odds, then adjust them later as new updates come in.

See more: hottest sports reporters

Factors That Can Cause Odds to Change

For major matches, bookmakers often release odds early. But for games with limited data, they wait longer and make a more careful assessment. Sometimes, due to changes in unpredictable factors, bookmakers adjust the odds right before kickoff to keep them accurate.

1. Latest Match Results

If a favored team suffers a heavy defeat in their most recent game, doubts about their upcoming performance can lead to changes in the odds—even if the opening odds were released early.

2. Injury Updates

Injury lists have a significant impact on a team’s performance, especially for clubs dependent on a single key goalscorer. If that player suffers a serious injury, it can drastically reduce the team’s perceived strength and cause odds to shift.

3. Off-the-Pitch Issues

These qualitative factors can have a strong psychological impact. Internal disputes in the dressing room, for example, often result in a noticeable dip in performance.

4. External Conditions

Weather, poor pitch quality, and other environmental factors can affect players’ ability to perform at their best. Bookmakers always take these into account when adjusting odds.

Choosing the Right Time to Place a Bet

Bookmakers may set odds long before a match, but punters should only bet close to kickoff—when they have full information on both teams, match conditions, and other external factors.

Many experts recommend betting 5–10 minutes before or after the match starts. This short window allows you to assess the players’ mindset on the field and make a more precise betting decision.