Betting Odds Explained: How Do Bookmakers Set Odds?
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What did a bookie do if he felt liabilities had been in hazard of getting too large on a specific horse? All he needed to do was rub off the displayed value on his chalkboard and put up a much less enticing price. He might then balance his book by pushing out the prices of less fancied runners. The golden age of betting was triggered by the 1960 Betting and Gaming Act - a watershed development that allowed betting on racing and greyhounds to happen in licensed shops around the country. For the first time, punters didn't have to be physically at a racecourse or dog track to legally place a guess. There was still an incentive for large-time punters to go racing as a result of if they have been betting in retailers they needed to pay tax. However bookmakers small and enormous had to be looking out to guard themselves against betting coups in what was now "open season" for big-stakes punters. Each choice in the Combo guess must be at odds of a minimum of 1/2, which is affordable. The way in which the boost works is that for four selections you get four%, for five you get 7% for six it's 10%, and it really works all the way in which up to 77% for 15 selections.
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