Why have sports book odds become so terrible as time has passed?

Discussion in 'Sportsbook' started by matrix_rep, Feb 5, 2016.

?

Who wants sportsbook odds back to what they used to be

  1. ME

    78.6%
  2. Hell no

    21.4%
  1. matrix_rep

    matrix_rep Peg City
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    This is a thread basically asking the higher ups in staff why sports book odds have become terrible as of late. I also would like to see if the public even remembers the good old days of sports book.

    April 13th 2015 (Good Days)
    [​IMG]

    April 13th 2015 another good day for the odds.
    [​IMG]

    September 2nd 2015 (Odds slowly decline)
    [​IMG]
    Typical odds today and what have been odds in the past month or 2.
    [​IMG]

    My question is why have odds been on the decline. We all know sportsbook takes a lot of money out of the economy, so why can't the public the same chances they used to have when money was still taken out of the economy, not as much obviously but at least the odds were fair.
     
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    #1 matrix_rep, Feb 5, 2016
    Last edited: Feb 5, 2016
  2. matrix_rep

    matrix_rep Peg City
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    Note the screenshots i posted from above were only bets i won. I also lost a lot of these bets coming out with a negative profit of about 1 million when odds were good.
     
    #2 matrix_rep, Feb 5, 2016
    Last edited: Feb 5, 2016
  3. UnitedStates2

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    You're literally using games with different teams to make your case - Different teams = Different Odds - FC Barcelona would have higher odds facing Real Madrid CF than it would facing Valencia CF, lol. That's not a very good case.

    Anyway, even if odds are lower - I'd say 100% of the time it's because of fears of printing too much money or because vegas lowered them or a mixture of the two. Andrew isn't doing this to be mean, lol.

    @andrewkm is very knowledgeable about sports betting and such. Trust me, he knows what he's doing.
     
  4. matrix_rep

    matrix_rep Peg City
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    I am using games where there are 2 bets on the game, mostly an under/over type bet to show how the odds for under/over. The point of this thread is to ask why, as time with sports book has gone on, have the odds for under/over now spread games has decreased. I know the odds for certain teams are not the same, obviously.
     
  5. UnitedStates2

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    Yeah, but you're using odds from different games to make your case - If you were to make a convincing case, you'd try to use odds with the same teams.

    Anyway, I've already stated possible reasons of why they may have been lowered. Again, andrew knows what he's doing. I don't see the point in making an entire thread about this, as he's explained repeated times how he gets/determines the odds of the games.
     
  6. ChargerBoltz5

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    I have a similar question: why keep on decreasing the odds every time someone goes big?

    As of late, I've noticed the odds will be changed after there is a lot of money on a certain outcome - for example, if PlayerA places 500k on an outcome with 10/14 odds, they'll usually be changed to 10/17 or something soon after.

    I know this is due to the "inflation" that'd be brought into the economy, but sportsbook worked well for months when odds were never changed, even with several million on a single outcome. Really though, is lowering the odds gonna change it that much? We already have plenty of money coming out of the economy with lotto, players going inactive, and even sportsbook (there have been plenty of games lately that have taken millions out of the economy).

    My vote is, for the sake of continuity and fairness for sportsbook players, to not change odds when there ends up being a lot of money on a game. It worked here...
    https://ecocitycraft.com/forum/sportsbook/841/ - no odds were changed despite 4 million on the Orioles
    and here...
    https://ecocitycraft.com/forum/sportsbook/943/ - no odds were changed despite 3.2 million on Estonia
    ...and plenty of other games since the introduction of sportsbook to ECC. I saw two odds changed within half an hour of the Super Bowl odds being posted this morning... I don't see why that is necessary.


    Oh, and for clarity, this is a question, not me getting mad at the way Andrew does things now.
     
  7. UnitedStates2

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    It's due to fears of tons of money being put in the economy - When someone places a huge amount of money on an outcome, other people tend to follow. People essentially jump on the band wagon - People are generally hesitant to make a bet on an outcome until they see some other players betting large amounts, and then they join in. As illogical and irrational as it seems, that's how people think, and that's why andrew lowers odds in case if more players bet.
     
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  8. ChargerBoltz5

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    I see where you're coming from, but what I'm saying is, so what? We've had plenty of money taken out of the economy via sportsbook over time, plus all the other means we have to remove money from the system.

    We also have plenty of ways to put money in - millions of EcoDollars are generated each day via SG, mining, farming, etc. So say people jump on a bandwagon of pretty good odds (which I get, I do that occasionally), it hits, and boom, we have another five million put into the economy. Is that really gonna make a dent in the long run? There's enough input and output of money currently, and as far as I can tell, the economy hasn't shattered into tiny pieces despite several three-million-dollar outcomes over the past months - without any changed odds.

    Pretty sure that if you don't change the odds on a game (other than because of vegas) it won't impact the economy so horribly. Correct me if I'm wrong though.

    Side note - shouldn't this be in sportsbook discussion and not general?
     
  9. UnitedStates2

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    You're forgetting that the said money that could've not been created adds up over time - It's necessary to take as much money out as possible for sportsbook to function properly. This is a tool to take money out of the economy, not just for entertainment.
     
    #9 UnitedStates2, Feb 5, 2016
    Last edited: Feb 5, 2016
  10. andrewkm

    andrewkm ECC Founder
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    I change odds as I see fit.
    Refer to this FAQ for more information:

    https://www.ecocitycraft.com/forum/threads/faq-sportsbook-events-betting.120630/

    Basically: Don't like the odds don't bet. I won't change them. (Unless I'm getting basically close to zero bets, at which point a change must be made to make them more pleasing to potential gamblers). If there are bettors swarming in I see no reason to print more money for them, not until there is a heavy decline in action. Your argument makes absolutely zero logical sense.

    Your thread is simply saying "I want more money"!

    So TL;DR = what did we learn here today? - Revolt and stop betting, then odds may get better. (That is the only way to have an impact on a sportsbook). Continue betting in mass amounts, odds won't change. Welcome to the Casino/Sportsbook industry.
     
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    #10 andrewkm, Feb 6, 2016
    Last edited: Feb 6, 2016
  11. andrewkm

    andrewkm ECC Founder
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    Here's a more simple example to my reply above.

    Tim hortons (a Canadian coffee shop), has non stop drive thru lineups every single morning, and they continue to sell their doughnuts. They went from 85 cents, to 90 cents, to $1.05 now (true story). The drive thru is still packed selling doughnuts like no tomorrow.

    Looks something like this basically 24/7 where I live:

    [​IMG]

    You are on the side lines yelling "It's not fair! We want 85 cent doughnuts."
    No, no, see it is fair, because everyone is STILL in line lol. Perhaps if the drive thru went dead, we'd lower the price again.
     
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    #11 andrewkm, Feb 6, 2016
    Last edited: Aug 1, 2017
  12. andrewkm

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    Moved to Sportsbook discussion.
     
  13. matrix_rep

    matrix_rep Peg City
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    I understand your points, and you make a good case. Thank you for responding.
     
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  14. EMD3000

    EMD3000 I guess I'm a Mayor?
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    The only thing I don't understand is why odds decrease so much due to people betting big. I have won a decent amount of money from people being oblivious and betting 1,000,000+ then the odds being dramatically raised for the other team (that in reality, isn't that bad at all)
     
    #14 EMD3000, Feb 8, 2016
    Last edited: Feb 8, 2016
  15. ScopicX

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    Agreed, Tim Hortons Double Chocolate donuts are sooo good :)