Betting Tissue - How To Form Odds For A Race Or Event
A Betting Tissue:
Is the starting point for a bookmaker on any race or event for which the bookmaker is constructing a book.
The tissue consists of all the runners or opponents and their prices for that event. The prices are usually worked out by
the bookmakers odds compilers who have many years experience of putting together odds for this purpose. From this starting point the bookmaker
will shorten or lengthen prices depending on the bets placed.
A Bookmakers Book:
On constructing a book the bookmaker will aim to make a profit. So although all the percentage prices (see the section on percentage odds for a
ready reconner) should add up to 100 percent for a betting tissue, with a built in bookmaker profit the bookmakers book will often total 110
percent or more.
Punter's Point Of View:
In our quest for value, as this is the pre determinate for us having a bet, we will need to master the art of producing a betting tissue. The better we
are at doing this then the better we become at spotting value and ultimately having a bet. (see the section on this website about value). Our experience
of following races or events will give us the tools to do this job. As with all things practice will improve you so that you can master this art.
How To Construct a Betting Tissue:
A football match consists of three possible results. A win, a loss or a draw. These three possible outcomes mean that there is a one in three or 2/1 chance
for all three results if everything is equal (such as the strength of the teams) . 2/1 is a 33 and 1 third (33.33) percent chance of winning. So with three
33.33 percent chances we have our 100 percent book. For a match that we may see as one sided such as Man Utd v Hull City then the odds may be
1/4 (80 %) Man Utd, 6/1 (14.29%) draw or 16/1 (5.88%) Hull City giving a book of 100.17% although the bookmaker will cut the odds to make more of a profit
on the book.
For an 8 horse race - If all 8 horses were of equal ability then they would have a one in 8 chance or odds of 7/1 (12.50%) chance to win. So to create our tissue we
know that some horses are better than others. A lot of factors will come into play such as official horse rating, current form, track, jockey, weight given
and so on. So to form our tissue we must identify a horse that has an average chance of winning and this will be our starting point and we could allot this
horse odds of 7/1 as this horse is the mid point of our calculation. from here we might have a book that looks like this:
So experience will tell us what odds a horse should be after factoring in all the known ponderables (form,jockey, weight, rating, speed etc). This will take
practice and by having a go yourself and comparing it to the bookmakers odds you can build up your skills over time.
When To Bet !:
Although we may not be experienced in forming a book such as this, the priciples involved are such that if we have been betting for a long time
then we can spot a team, horse, dog or situation where the price is bigger than it should be. These situations occur when things change at the last minute
such as players dont play because of injury, the team is in poor form and their opponents are in good form or the horse has been running in better company and this hasnt been factored in by the bookmaker. Experience
will tell you that the odds are bigger than they should be. This is the time to bet because if we bet when the odds are bigger than they should be over time
we will win because the true odds are shorter and by aquiring the bigger price we win more often than the prices we have bet on says we will.
If you dream of making an income from your expert knowledge in sports then Successful Sports Betting is the website for you.
We aim to help you beat the bookmakers with sound expert advise and ideas so that you can make better choices when you are
gambling. Whether you like betting football or another sports bet we will help you to improve your choices. From a football bet
to any sportsbook odds betting, even spread betting, we will help, explain and advise. We discuss bookmaker incentives like free
bets and for the novice there are details on how to sign up to online bookmakers. Click on any bookmaker advert on this website
to access that bookmakers website. Happy successful sports betting and good luck !
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