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Here's the mechanics of how payouts and odds are calculated, short version is that the opening odds are a best guess by the bookie and then as the wagers flow in they're automatically shifted around as a function of how much money is on each outcome as a fraction of the whole. This used to be accomplished by enormous shaft & gear clockwork computers which were a marvel of engineering in their day. https://en.m.wikipedia.org/wiki/Parimutuel_betting http://www.computerhistory.org/atchm/racetrack-betting-mechanized/
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Jun 21, 2017 21:13
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| # ¿ May 2, 2024 21:00 |
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