Bookmakers – how do they compile there odds ?

[L plate punter]

This is my maiden post so please forgive me if this has been covered before or is in the wrong section.

It seems to me that in order to win over the long run you have to find Value which I think I grasp in theory. So in order to find value you need to select a price that you feel is to big for the horses chance.

As to an extent it isnt the horse that gives its self a percentage chance of winning but the bookmaker, I wondered what Information does an Odds complier use i.e is "going" there most important consideration? do they use Trainer records etc…

I am just just trying to grasp if there is any edge to be gained over the odds compilers for example do they tend to work there odds out several days before a race having to assume the going for example and not being able to take into account the trainers record in the last 48 hours.

I would really love some advice, or confirmation that I am deluded and the bookmakers/market can’t be beat !!

[davidjohnson]

Have a read of this blog written by ATR’s Sean Boyce.

http://boyciesbettingblog.com/betting-p … mpiler.php

[kasparov]

I always wondered why the odds were so similar across firms. Now we know it’s because they all use the same odds compiler!

The other thing though is that about 5 minutes before each race all the online odds seem to move in unison. I guess there is some sort of oncourse price feed all the firms are using but I don’t know what it is. Can anyone enlighten me?

[Author]

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