eli5: How do professional betting houses determine the gambling odds for games and fights?

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Im not a gambler so this is foreign to me. But i’ve always been fascinated with the business of setting odds. Is this pure subjective from professional odd setters or is there complex math attached to each odds?

In: Mathematics

3 Answers

Anonymous 0 Comments

The goal of the spread is to get people betting one both sides with some room it the middle for the house to make a profit.

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