Moxie629 said:
GameSetAndMath said:
Moxie629 said:
^ I'm sure you copied that from somewhere to make a point, but it doesn't make any sense to me. Feel free to illuminate, though. I don't really put much stock in those that make betting odds, because I don't think they really pay attention to the individual sports. For example, are they taking into account the emotional bump that Murray gets from winning Wimbledon? And that he did beat Djokovic - in straights - to do it? These things have emotional value. What about the fact that Djokovic hasn't won a tournament since Monte Carlo? And Del Potro...I'm not sure when. But therefore, I don't see how that would put either of them clearly above Murray. I would say all 3 are at the top in contention, but I don't think it's unreasonable to say that Murray may have an edge, given recent history and momentum.
Of course, I did not make up those numbers.
It was a cut and paste for the odds of winning USO in betting houses.
So, you came down from "I don't think how anyone...." position to
"Murray may have an edge ...." position.
The point was to show to you that "Anyone could" position that you
initially took was an extreme position and is not really shared by
many people.
My point is that a) for folks who know nothing about odds, like myself, those numbers mean nothing, so a little help an analysis wouldn't go astray, and b) I still don't think that those that make betting odds pay enough attention to the finer points of tennis to be the last word on how things might go.
Those numbers represent the return that you get, if you bet on that
person. For example, if you bet $1000 that Murray will win USO and
if he indeed actually wins it, you will be paid $2000. On the other hand,
if you bet $1000 on Nadal and if he actually wins, you will be paid
$7000. So, the larger the odds for a player, it means the betting
house estimates their chances of winning to be smaller. Hope it
explains.
There had been times when the odds for Fed was less than 1.
It the odds were say 0.75, then it would mean that if you bet
$1000 on Fed, and Fed actually wins, you will be paid $750.
If he loses, of course you will get nothing. Obviously, nobody
will spend money on that kind of bet.
While nobody can predict what will happen in the future,
as these bets involve real money, these betting houses will
be putting in lot of time and effort in coming up with these
odds and would consider all kinds of factors.
Finally, these odds will be dynamically changing also.
As more and more people are willing to put their money
on a particular player, that player's odds will come down
irrespective of that person's rankings and his chances of
winning as per the experts. This is because the betting
house cannot afford to disburse huge amounts of money to
lot of people even in a situation that has small probability of
happening.