2006-06-13 14:08:35 · 1 answers · asked by Padmaja S 2 in Sports ➔ Football ➔ FIFA World Cup (TM)
The starting odds are made by a casino professional, based on his best guess of, not necessarily, the winner, but more importantly his best guess as to where the betting public will wager their money.
After the initial odds are posted, they can change based on how much money is bet.
For instance, if Brazil starts out as the favorite and maybe the odds are 1-to-3 meaning that if you bet on Brazil and they win, you will get your original bet back, plus 1 for every 3 you bet. (FYI, rather than 1-3, it would be the same pay out if it was listed as 4-for-3.)
If more people are betting for Brazil to win, then the odds will go up to 1-to-4, meaning that you would get your original bet back, plus 1 for every 4 you bet.
On the other hand, at the beginning, the Czech Republic was around 70-1, meaning that for every 1 bet, you would win 70 if they win. And after they beat USA, many people started betting them to win and now they are 26-1. But that does not change the odds if you had bet them at 70-1.
Hope this helps!
2006-06-15 07:18:34 · answer #1 · answered by norcalirish 4 · 0⤊ 0⤋
They figure out the odds of each game from the betting numbers. For example, if 10 people bet on Brazil and 2 on Croatia the odds of Brazil winning the match is 10 out of 12. They do that for all the matches and figure out the odds of advancing to the second round. and repeat the process for each match in the second round and third round, and so on.
2006-06-13 14:16:39 · answer #2 · answered by edhchoe 3 · 0⤊ 0⤋