- Mar 14, 2009
- 2,209
- 2,601
- AFL Club
- Geelong
Yep, it's a combination of encouraging betting and then balancing the books. With odds of 1.81 and 2.04, the betting agency has a 4.3% margin built in.No they don’t lose money when favourites win.
The bookies will set the odds to try and encourage as much action (on both teams) as possible. For a team like Geelong who the betting public are sick of, they need to inflate the odds to encourage more people to bet on them.
If the bookies find themselves over exposed to either result they will lay off their potential losses with other books. They will rarely be exposed to a losing position of any magnitude.
Because of the small premium built into both sides of the bet, and their ability to lay their losses off, the bookies sole goal is to increase betting turnover. They clip the ticket on every bet.