What would a bookmaker say about Malaysia GP 2013?

[AndyL]

I don't think this is necessarily true. Legitimate sports books set odds to entice betting for underdogs as well as favorites in hopes of getting money bet for as many drivers as possible. These odds are stacked in "The House's" favor. Vettel was a prohibitive favorite in Malaysia, and his odds were not very appealing. Plus sports books sell off bets to other books if they have too much bet on one side/event/competitor. These books will continue to change the odds as money goes down on one event/driver untill it is either too prohibative, or they will just take it off the board, (refuse to take bets) before they resort to selling off bets by betting that money at another book/s

Bookmakers do usually have a smile on their face when an outsider wins and a frown when the favourite has come in - that's how it seems from watching Channel 4 Racing anyway

[Tazio]

Bookmakers do usually have a smile on their face when an outsider wins and a frown when the favourite has come in - that's how it seems from watching Channel 4 Racing anyway

It depends on the specific event. Late betting on a heavy underdog that comes in can hurt them much more as Sports Books expect wagering on favorites and apply the odds accordingly. It has been my (extensive) experience at the Books in Las Vegas that they are generally always smiling ; don’t forget most bets include “juice” or house vigorous which is usually 10%.

[Mia 01]

Bizznizz as usual I presume.

[Mintexmemory]

The very interesting thing about Bookies and their understanding of motor sport is that they don't understand that step-wise changes can occur and that previous poor-performance can occasionally lead them to offer very good odds. Cars and drivers are just not as predictable as race horses and football teams. I often peruse the odds to see if there is an offer too good to miss. Renault's first F1 win (and first for a turbo'd car) was at odds of 100-1 - They'd been retiring that season with monotonous regularity and Jabouille had no winning record. However, if there was one GP where the drivers would be inspired and the team had THE engine in the car it was going to be France so I had £1 ew and financed that year's vacation on the procedes
In rallying, despite being advised by a journo or some other 'specialist' (same as in F1) they struggle to see the change points. After day 1 of Rally Mexico they couldn't decide how to set the odds so they had Ogier and Hirvonen at 7/4 joint fav. Now Ogier was clearly quicker than Mikko and the Polo was optimised for high alt - I laid £20 on Ogier and profited £35. Just wish I'd been able to put more on at the time as I suspect they will have Seb at very short odds for the rest of the season

[christophulus]

There's millions of variables. Vettel could've been taken out at the first corner, or blown his engine up on the final turn. A meteor could've knocked off his front wheel etc etc. None of these can be "managed" but can still affect the result.

Gambling is basically educated guessing. Based on previous form I imagine most people would've predicted Red Bull would allow Vettel to win over Webber if they were running 1-2, and if I'd placed money on the outcome before the race I'd have put Vettel ahead.

[Dave B]

The very interesting thing about Bookies and their understanding of motor sport is that they don't understand that step-wise changes can occur and that previous poor-performance can occasionally lead them to offer very good odds.

I'd go further and say that bookies don't really keep up with F1 in general. Several years ago a bookie in town had Barrichello at 10-1 after a run of mediocre form, but he stuck it on pole and they didn't change their odds, so I stuck a tenner on him for fun. Of course, he crashed his Ferrari on lap one... mugs' game!

[wedge]

IIRC after the 1998 Australian GP was void and didn't pay out on Hakkinen's 'win'.

Actually I don't really do any game as it is under any responsibility to gambling marketplaces at all. It's their mistake if individuals or activities don't get the outcomes they're after; they should have cost that in with the danger. I'm fairly sure that they aint spending any due royalties to the main prespective either . . . . . . . .

[jens]

Bookmakers would say nothing, because any person betting on F1 should be fully aware of what Formula One racing contains, including team orders. That's it as far as I am concerned.

It's like asking whether bookmakers should consider a different winner for cycling - the one, who did all the hard work and helped their team leader to get a good tow in the end. It's a natural part of the sport.

Actually I don't really do any game as it is under any responsibility to gambling marketplaces at all. It's their mistake if individuals or activities don't get the outcomes they're after; they should have cost that in with the danger. I'm fairly sure that they aint spending any due royalties to the main prespective either . . . . . . . .

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