I read the news today oh boy! Page 1,660

Quote: Paul Wimsett @ 9th September 2014, 12:25 AM BST

Maybe you just don't understand betting odds, Lofthouse.

An outsider (on an accumulator for instance?) coming in would give a huge amount of money to a small number of people.

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But it rarely happens. Most accumulators involve favourites because the idea is to increase your odds with a greater number of surer bets. Sorry but Lofty is right for once, Bookies don't want favourites to win, that's why they discourage you with poor odds from the start for the strongest player ie. the favourite.

Quote: Hercules Grytpype Thynne @ 7th September 2014, 1:13 PM BST

If it goes yes, will this be the Union Flag?

'Cos surely the flag of St Andrew will have to be removed.

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I could get used to that, it's not a bad design.

Bookies do not want favourites to win. Fact. Which is why you get so low odds on them. It's called running a book. I take it you don't gamble Paul?

No, but I still think the poor odds is to discourage betting on the favourite, which surely it's all about. The favourite isn't the "way to bet".

The favourite is always the horse most likely to win.
It's just the odds don't reflect that likelyhood in pure percentage terms- rather they reflect the number of people who believe, and are willing to put money on that likelihood.
Similarly the outside shot is the one least likely to win - but 100/1 isn't the actual chances of it winning - it's there to draw the punters in to put money on a horse the bookie believes is highly unlikely to come in.
A 'balanced' book is one where the bookie wins - whatever the result of the race.

That's right Lazzard and 'odds' change before a race to reflect the betting and to balance the books. Bookies lay money with other bookies to try keep their books as balanced as possible.

Used to be one of the joys of track-side betting, literally 'chasing the odds' down the row of bookies as the odds came in.
Which of course was the reason for all those funny hand-signals in a time before mobile communication.

That's right it's called making a book. The bookies adjust odds so that the favourite has less return for the punter if it wins - in an odds on bet very significantly so! So if most people are betting on a horse rather than others that horse becomes favourite and the odds on the others increase so as to attract punts on horses other than the favourite. Six favourites winning in a row at the races for example is catastrophic for the bookmakers. Bookies by definition never want favourites to win because they only become favourites by having the most money wagered on them. It really is quite simple. Schoolboy gambling 101.

Judge finds Oscar Pistorius not guilty of murder but says athlete 'negligent' in shooting Reeva Steenkamp.

Negligent? Weird verdict.

RIP Richard Kiel

Quote: Gordon Bennett @ 11th September 2014, 2:21 PM BST

RIP Richard Kiel

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Gonna need some strong pallbearers

Ladies Day at Doncaster Races.

Has her hat just exploded?

Quote: Oldrocker @ 11th September 2014, 8:40 PM BST

Ladies Day at Doncaster Races.

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I was born (long) after 1960 and have neither a mobile phone or tattoos.

Is there anyone else in the country who could now say the same?

To please the Irish we could always use this for our Union Flag.

https://www.flickr.com/photos/16498755@N07/7320973550/

Quote: Chappers @ 11th September 2014, 10:16 PM BST

To please the Irish we could always use this for our Union Flag.

https://www.flickr.com/photos/16498755@N07/7320973550/

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Ah.....I much prefer it to the current one.

It feels nicer.