quote:
Originally posted by Yellow Rose:
In answer to op's question, no I don't want Bea to go.
I don't really understand betting, so, some people are putting money on HM's, but, what about the GBP who don't bet, how do bookies know who the majority of GBP will vote for
They dont care, they only care if they make a profit or not so they tailor the odds so that they make a profit no matter what happens. Well thats the aim.
I will give a very simple example say its between two HMs and a bad bookmaker.
HM A has odds of 5/1 thats 5 pounds paid out for every 1 bet.
10 people have bet on A at 5/1 , if HM A goes they will have to pay ÂĢ50 out.
HM B has odds of 100/1 thats 100 paid out for every 1 bet.
1 person has bet ÂĢ1, they will have to pay ÂĢ100 if HM B goes.