How do bookies set odds?

How do bookies set odds?

Most punters worldwide wonder how betting sites like Nairabet arrive at 1.60 or 2.50 odds on a particular event e.g. find below odds on 2019 UEFA Champions League final between Tottenham Hotspurs and Liverpool (at the time of writing this piece). We always receive a lot of question regarding how bookies set their odds and find the edge to the market.

  • 2.75 Tottenham
  • 3.20 Draw
  • 2.55 Liverpool

Questions like “who set the odds at a betting site?”, “how do bookies set odds?”, “how they arrive at the odds?”, etc. pops up in the mind of prospective punters. AfricaCasinos.com‘s expert lifts the lid on who sets the odds and how bookmakers arrive at the odds. The following questions will be answered during the course of this article:

  • Who sets the Odds?
  • How does he set odds?
  • How do betting sites make money?

Who sets the Odds?

A team of experts employed by betting companies, usually known as Traders, Odds Compilers, or Risk Analysts sets odds at betting sites. Their primary job on a daily basis is to produce odds that represent the chance of a probable occurrence.

It must be said that it is extremely difficult to correctly account for the variables in any sporting event. If a punter decides to take the chance of Tottenham Hotspurs winning on home soil, for example, the Odds Compiler or Trader must first account for the following: current form of the two teams, notable injuries or suspension of key or influential players, impact of fan support, record of officiating officials and lot more.

How does he set odds?

The trader must also account for the value that is likely to be placed on the event. In the Tottenham example, most football fans would back Spurs to win at the Tottenham Hotspurs Stadium, therefore the price or odds will be relatively shorter than the exact victory chance.

The traders also have it at the back of his mind while setting the odds that a betting site’s main aim is to make a profit notwithstanding the eventual outcome, in other to make a profit he follows these simple steps:

  • He will first research and try to determine the correct odds of any possible outcome.
  • The eventual odds offered to betters will be based upon those correct odds which have been downwardly adjusted so as to provide the betting company with a ‘margin’.
  • If bets are placed in a manner divergent from the expectations of the betting company, odds will be adjusted to maintain that ‘profit’ margin.

How do betting sites make money?

The aim of every business venture is to make money and maximize profit, and for a betting site to make a profit, the trader will add a little percentage to the true odd so as to generate profit for the betting company, notwithstanding the eventual outcome.

Let examine a match between Tottenham and Liverpool – two teams that are evenly matched playing on a neutral ground in the City of Madrid, the odds will look like this: Tottenham to win at 2.75 (36.36%) draw at 3.60 (27.7%), Liverpool win at 2.75 (36.36%), which equals 100%. To make a profit, betting companies will then skew the odds a little to favour them: Tottenham to win at 2.50 (40%) draw at 3.40 (29.4%), Liverpool win at 2.50 (40%), which equals 109.4%, leaving the bookmaker with a profit margin of 9.4%.


Final matchday in the Premier League

Final matchday decided it was going to keep fans thrilled with all the twists and drama when Vincent Kompany struck his 70th-minute thunderbolt against Leicester to return Manchester City back to the top of the Premier League. This is not the first time Kompany would perform such heroics, he had been saviour before in the 2011/2012 season. City headed into their clash with Manchester United, 3 points behind and with two more games to go.

Cometh the hour, cometh the man, Kompany powered a first-half stoppage time header past De Gea in goal for United to secure victory and propel City above United on goal difference. Manchester City would eventually go on to claim the title with Sergio Aguero’s stoppage-time heroics of his own against QPR. Seven years on, Kompany and Aguero are still in the business of heroics, one more against Brighton on final matchday would land City the title.

Manchester City

Manchester City has a clear cut task, match Liverpool’s final matchday result and be crowned champions. They would, however, want to save themselves any drama by going for a win and not worrying about what Liverpool are up to in their own game. Their single point advantage going into the final matchday ensures they are fully in control of their own destiny. They have had to do this the hard way, chasing down a seven points deficit to Liverpool.

A gutsy victory against Liverpool on matchday 21 prevented the gap from becoming ten and have gone on to lead by a point. Since a 2-1 defeat at Newcastle in January, they have put together an incredible thirteen game-winning run. A 14th victory on the bounce against Brighton on final matchday would secure the second of what is a domestic treble challenge.

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Liverpool

Liverpool has 94 points, with one match to go and they are not sure that even if they win that and get to 97 points, they would be crowned champions. It is only in two seasons that their present points tally wouldn’t have crowned them champions, the 2004/2005 and 2017/2018 seasons. If they win their final matchday fixture against Wolves and still fail to win the league, their 97 points tally would have won every Premier League season bar the 2017/2018 season.

It is easy to feel sorry for Liverpool, but they would be kicking themselves for letting a seven points advantage at the top of the table slip. A win against City on matchday 21 could have extended it to ten and they would have been out of sight in the title race. They now must do it the hard way and hope fortune favours them in the final round of fixtures.

Who blinks on the final matchday

The final fixtures of the season are played simultaneously across the country. Both clubs would go into their contests with zest and the optimism that the other team would slip up to help them coast to title triumph. Manchester City looks like the ones with the easier job, just win and retain the title, Brighton whose own relegation fears have been eased may not just be the team to stop them from achieving such a simple objective. I wouldn’t be betting against a City win in the fixture.

Liverpool would have to battle on grimly and gamely against the odds on the final matchday. Fans at the match would be on the radio and social media following results from the City game. The players would have to steel themselves against any sign of resignation in their fans’ reaction to the news from the City game. However, what would be left in the tank after the midweek attempt at overturning a 3-0 first leg loss to Barcelona in the Champions League would determine how far they would go.

Betting on Premier League

There are still a lot of chances for Naijans to bet on the final matchday in the Premier League. A lot of the sports betting sites in Nigeria are offering some really good odds on the last season bets. Therefore, players who monitor the market is likely to find some great odds. As the final matchday in the Premier League is one of the last big events of the season competition is fierce among the sports betting sites. We have selected three sports betting sites that stand out in both terms of odds and range of betting possibilities in the final matchday in the Premier League.

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Manchester City set to clinch title as relegation could be decided this weekend

It’s the penultimate round of matches in England with promotion tickets and relegation places not yet fully decided.

While defending Premier League champions Manchester City and second placed Liverpool battle it out for the top flight title, there is a lot more to be decided further down the log and the English football tier.

Manchester City’s Pep Guardiola could clinch the coveted Premier League title on Monday evening, while struggling Cardiff could join the relegated duo this weekend.

Further down English football pyramid, there’s still a lot to play for in the second tier – The Championship, the third tier – League One and the fourth tier – League Two.While relegation battling Cardiff City must beat London club Crystal Palace on Saturday afternoon to at least boost their chances of escaping the drop.

However, the same Cardiff could still go down, if Brighton and Hove Albion beat North London giants Arsenal, Neil Warnock’s men are down to the Championship.

We take a look at what to expect this weekend in England.

Premier League

The Premier League title will remain at Etihad Stadium if Merseyside club Liverpool suffer an unexpected defeat in the hand of Newcastle and the Citizens manager to defeat former Champions Leicester City on Monday night.

While 18th placed Cardiff City with 31 points from 36 games must defeat 12th placed Crystal Palace the same day hand them a major hope of escaping the drop.

Should Brighton beat 5th placed Arsenal, Cardiff could still go down.

Skybet Championship                                                         

With Sheffield United and Norwich already handed promotion tickets back to the Premier League for the first time in so many years, and financially handicapped Bolton Wonderers, Rotherham and Ipswich sent down to the third tier of English football, only the play-offs spot remain to be decided.

Former Premier League side’s West Brom, Aston Villa and Leeds make up the top six in this Pyramid, with Leeds requiring a single point to clinch third position ahead of West Brom while Aston Villa will surely end up in fifth position.

Another former premier League side Derby lead the race for the final spot as they play the Baggies a point ahead of Middlesbrough. Boro will trade tackle with Rotherham in the afternoon of Sunday, while another team with an outside chance is Bristol City but will have to triumph at Hull City and for match results elsewhere to favour them.

English League One

Barnsley and Luton were handed promotion tickets on Tuesday thanks to defeats for rivals Sunderland and Portsmouth. The title decider holds on Saturday, with Bristol Rovers facing the Tykes and Luton playing host to Oxford.

Charlton Athletic are sure of the play-offs spot while Doncaster are in the sixth position. Should Coventry force Rovers to drop points, rivals Peterborough can capitalize by defeating Burton.

Bradford’s relegation is confirmed but other bottom placed teams like Walsall, Scunthorpe, Southendand Plymouth are separated by just one point, meaning theirs no margin for error. AFC Wimbledon are also not completely safe if three out of those four teams listed above win.

English League Two

Two teams have also been promoted here – Lincoln and Bury, focus shifts to the vital tie between MK Dons and Mansfield, tagged winner-takes-all. The victor will be handed the promotion ticket, while Mansfield will need only a draw to pick up the promotion ticket as a result of their far superior goal difference.

Forest Green and Tranmere will welcome the unsuccessful team to the play-offs, with Newport current sitting in the final spot after their win over Oldham on Tuesday. Their match against Morecambeis a must win to avoid gifting Exeter, just one point behind going into their tie with Forest Green.

Should both team slip, Stevenage, Colchester, and Carlisle retain an outside chance.

Confirmed relegated is Yeovil and the could welcome Notts County unless they defeat Swindon and fellow strugglers Macclesfield suffer a loss against Cambridge – County would need at least an eight-goal victory should Sol Campbell’s men draw.


Europa League Semi-finals: Arsenal vs Valencia

Arsenal manager, Unai Emery would square off against a Valencia side he managed between 2008 and 2012 in what promises to be a feisty semi-final clash in the Europa League. For both clubs, the UEFA Europa League represents a chance at salvation and a chance to get into the lucrative Champions League if they fail to make it through their league placing. Arsenal is placed fifth in the Premier League, two points off Chelsea in the last Champions League qualifying spot with three games to go. The extra incentive of winning the Europa League and making the Champions League would make this encounter gruelling and exciting. Both clubs have history between them, Valencia has trumped Arsenal thrice in their five previous European encounters leaving the Gunners with a solitary win. Shkodran Mustafi, Gabriel Paulista and Francis Coquelin have played for both clubs, with Valencia’s Coquelin missing this encounter through suspension.

Arsenal

Arsenal steamrollered their way through their Europa League group stages in impressive fashion, winning five out of their six games. However, the going has been a little rougher in the knockout rounds with first leg losses to Bate Borisov and Rennes in the round of 32 and 16 respectively. Their brilliant home form, featuring comfortable home wins got them into the quarterfinals. A devastating display both home and away subdued Napoli in the quarterfinals to set up the clash with Valencia. Arsenal will be without influential midfielder, Aaron Ramsey for this encounter and for the rest of the season through injury. Pierre-Emerick Aubemeyang, with 4goals in 9games in this year’s competition and Alexandre Lacazette, provides the firepower in attack for the Gunners. They will be supplied by the creative genius of Özil and Mikhtaryan, not forgetting that they are tinkered by a three-time winner of the competition.

Valencia

Valencia dropped out of the Champions League group stages into the Europa League this season. In a tough group featuring European giants, Juventus and Manchester United, tough losses against Juventus and a damaging draw against Young Boys of Switzerland did them in. They acquitted themselves quite well against English opposition, Manchester United in the group, drawing in England and winning in Spain. Their record since dropping into the Europa League has been excellent, rolling over Celtic, Krasnodar, and Villareal in impressive fashion. Managed by the tactically astute Marcelino, and studded with such dazzling talents like Goncalo Guedes, Ferran Torres, Rodrigo, and Dani Parejo, this Valencia team can cause Arsenal plenty of problems.

arsenal valencia

Current form

Arsenal is in a rut presently on the domestic scene, they have lost their last three games which have left them marooned in fifth place and out of the Champions League positions. Their form in Europe has been the only solace for their fans this season, the home and away demolition of Napoli in the quarterfinals is a pointer to how devastating they could be on their day. Valencia is also struggling domestically, two losses on the bounce have consigned them to the sixth position on the log. However, they have been devastating in the Europa League too. A comprehensive victory over Villareal in the quarterfinals should send an alarm in the minds of opponents.

This game is full excitement. Both teams are committed to attacking football. Therefore we expect goals to flow in this game. Arsenal would be counting on home support to carry them to a resounding victory, while Valencia would be banking on their resilience and doggedness to earn a favourable result.


Champions League semi-final – battle of the underdogs

Battle of the underdogs is the aptest description of the Champions League semi-final clash between Ajax Amsterdam and Tottenham Hotspurs. When the UEFA Champions League group stages kicked off in September 2018, no self-respecting football aficionado would have predicted this semi-final pairing. Ajax was a side whose glory days were deemed to have been behind and which had been reduced to the subsidiary role of a nursery for Europe’s better-resourced sides to pick promising talent from.

Tottenham, on the other hand, had never progressed beyond the quarter-finals of the UEFA Champions League before, coupled with the financial strains of the construction of a new home ground which prevented the acquisition of new talent to revitalize and strengthen the squad. It was expected that they were just making up the numbers this time around. Both clubs have however risen above expectations and are expected to clash in this fascinating semi-final clash. Visit https://africacasinos.com/ng/betting-sites/ for more information on how to bet on the games!

tottenham ajax champions league

Tottenham Hotspurs

Manager, Mauricio Pochettino has masterminded the terrific feat of pushing Tottenham to the verge of European glory in what was expected to be a subdued season for the London side. Going into this tie however, his tactical nous would be stretched to the limit by the loss of two of his most influential players to injury and suspension. Harry Kane (injury), and Heung Son Min (suspension) have contributed nine of Tottenham’s 17goals in the Champions League this season. Christian Eriksen, Lucas Moura, and Fernando Llorente would have to step up in the absence of the duo to fill the goalscoring vacuum they leave behind. The trio of ex-Ajax defenders, Toby Alderweireld, Jan Vertonghen, and Davinson Sanchez would also have to be on their toes to keep the rampant Ajax attack quiet if they are going to stand any chance of progressing to the final.

Ajax

The Champions League delights in throwing up that plucky underdog that would seize the hearts of all and sundry with their skill, ability, fearless attacking football, and youth. Ajax, under the guidance of the astute Eric Ten Hag, exemplifies such a team in this season’s Champions League. Their 19goals make them the team with the fifth most goals in this season’s competition. Starman, Dusan Tadic with six of those 19goals has been very pivotal in the achievement of such a feat. Assisted by the marvelous talents of captain Matthijs de Ligt, midfield marvel Frenkie de Jong and Hakim Ziyech, they will be hoping to recreate the feat of the 1996 Ajax side that last won the Champions League.

Current form

Ajax are riding a wave of stunning form presently, gunning for a treble of titles in all competitions. They top the Eredivisie table on goal difference to PSV and are in the KNVB Cup final where they will square up against Willem II on the fifth of May. They have scored an astonishing 160 goals in all competitions so far and have won 7 of their last 8 away games including the stunning triumphs to European giants, Real Madrid in the second round and Juventus in the quarterfinals of the Champions League. Donny van de Beek has scored in 5 of those away games including the equalizer against Juventus in the previous round.

Tottenham Hotspur is having a rough ride presently as crippling injuries and suspensions start taking a toll on the team. A first loss at their glittering new home ground at the weekend in a league game against West Ham was their fifth loss in their last ten games. However, they have been imperious on their new home patch and the goal in the loss was the first they would concede there. They would be banking on the vociferous support of their home crowd to see them through in this tie. I fancy Tottenham nicking this by a slim margin to use as a cushion for the crucial second leg coming up in a week’s time at the Amsterdam Arena.


Manchester Derby

The Manchester Derby

Manchester United face one of the trickiest dilemmas a club of such magnitude could ever be subjected to as they head into a derby against Manchester City. Facing the prospect of their two biggest rivals locked in an intense title race and being in a position to serve as a deadlock breaker wouldn’t be such an appealing prospect for the Mancunian giants. Should it be the traditional foe, Liverpool, a club they share an enduring rivalry with or derby rivals, Manchester City. The choice that is to be made is akin to what is referred to as a choice between the devil and the deep blue sea. Sandwiched in this dilemma is Manchester United’s own desperate bid to salvage what is left of what has been the wreck of a season in which they would be finishing without silverware for a second season running.

Punters for today’s game will have a tough time finding the best odds and betting sites. There are so many factors that need to be weighed into consideration when placing a Manchester Derby bet. Everything can happen. Africacasinos has made an analysis for what to expect, so continue reading below!

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The Rivalry

The Manchester derby is a hotly contested match between Manchester’s biggest sides, a match that splits Mancunian loyalties right down the middle. Manchester United have been the more successful of the duo, with a claim of success that extends beyond the confines of their city. Twenty English championships (thirteen won under the legendary Sir Alex Ferguson), and a smattering of continental titles bolster their claim to be the biggest side in Manchester. However, the present fortunes of the club are in stark contrast to this storied past, failure to win a league title since Alex Ferguson retired in 2013 leaving a sour taste in the mouth for supporters used to success. Manchester City’s blue moon, in contrast, is on the rise, with no storied past to rely on, recent successes are driving the narrative that the title of Manchester’s torchbearer has shifted to the blue half of the city.

What’s at stake in the Manchester derby

Manchester United are not in contention for the title, but they want to make the top four to guarantee qualification for the glamorous and money-spinning UEFA Champions League. Presently marooned in sixth place but within touching distance of the top four, as they are just three points off the top four spots, a win in this encounter would go a long way in their push for that coveted top four finish. Standing in the way of this aspiration is a must-win encounter against derby rivals Manchester City. Manchester City battling with its own exigency of winning all its remaining four games to be sure of retaining its title would be in no generous mood in this encounter. Starting from their own Champions League heartache in dramatic fashion to Tottenham Hotspur, they will want to salve the hurt by winning and furthering their own bid to win an unprecedented domestic treble.

The Protagonists

Leading the charge for both clubs are battle-hardened and seasoned campaigners in this fixture. Sergio Aguero is tied for most goals in this fixture with eight goals, and the smart money would be on him to be on the scoresheet again. Paul Pogba notched two goals when United won at City last season and with thirteen goals already this season with seven coming from the spot, it wouldn’t be inconceivable to stake that if United win a penalty, he would take it and score. Both teams have tended to score when they butt heads in this fixture, so putting money on both teams getting on the scoresheet is the smart thing to do. Manchester City has won four of their last seven fixtures at Old Trafford, losing only twice, staking on a win for them in this encounter makes perfect sense.

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UEFA Champions League Quarter-Finals

Barcelona vs Manchester United

Manchester United would have to put in an effort of herculean proportion if they hope to progress into the semi-finals of the UEFA Champions League this season. Having lost the first leg by a single goal at home, they would have to produce a performance of true grits and guts to overcome the deficit at the Nou Camp. They would be heartened by similar stirring performances achieved in Turin against Juventus and in Paris against PSG that got them to advance to this stage of the tournament. The principal gladiators of their Paris heroics, Lukaku and Rashford would have to be firing on all cylinders to offset the loss to suspension of influential defender, Luke Shaw.

Barcelona on the other hand would have the cushion of their victory away from home and the support of their vociferous fans to bank on as they hope to advance to the semi-finals for the first time in four years. Led by the talismanic Messi who has already racked up eight goals and three assists in seven Champions League games so far this season, they would be hoping to prevent the sort of improbable comeback that they and today’s opponent have mounted against PSG in the Champions League. Messi would have the competent supporting cast of Suarez, Coutinho, Rakitic and Busquet to aid him in the quest of surmounting the hurdle posed by Manchester United in today’s epic Champions League clash. Read about the Juventus vs Ajax game below.

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Juventus vs Ajax

Juventus, boasting arguably the greatest player that has ever competed in the Champions League in Cristiano Ronaldo would go head to head against another traditional European powerhouse, Ajax, in their quest to add to the solitary European title in their kitty. Ronaldo, having almost single-handedly led Real Madrid to three consecutive Champions League triumphs would be looking for an encore with Juventus to cement his status as the most potent weapon deployed by teams in the Champions League. He has already produced the sort of virtuoso performance that brought glory for Real with his devastation of Atletico Madrid in the previous round, dragging Juve back from the precipice of elimination. His first leg goal in a draw against a plucky, young Ajax side ensure that Juventus go into this one as favourites to progress to the next round.

However, they have to be on guard against a dangerous Ajax side that have already proved their mettle in this year’s competition by eliminating Real Madrid with a virtuoso display that downed the reigning champions right on their own home patch. Similar gritty showings against the likes of Bayern Munich and Benfica, European giants in their own rights should keep Juventus on guard all through the encounter against this promising Ajax side. Led by the exciting talent of Dusan Tadic who has already plundered six goals and three assists in the Champions League, and with the able supporting cast of Frenkie De Jong, Mathias De Ligt, and Hakim Ziyech, Ajax would not roll over easily in this tie.

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Paul Onuachu scores after 10 seconds (NEW RECORD!)

Something unbelievable happened in the game between Nigeria and Egypt this Tuesday. For the first time in his career, Paul Onuachu scored a goal for Nigeria. It all happened within the first 10 seconds and is a Nigerian record. The fastest scoring for Nigeria in an international game. The game also finished 1-0 to Nigeria so it was a very important goal for the team. Check out the goal here:

About Paul Onuachu

Paul Onuachu is born on the 28th of May in 1994. He plays for the Danish club FC Midtjylland and is a striker. He came to this club already in 2012 on a scholarship and tried a few different clubs before ending up in FC Midtjylland where he has been a consistent scorer. In March this year, he was for the first time in his life call-up to be a part of the Nigerian National Team. After this new record score, many eyes are on this extraordinary striker. Some rumours say that a team in Belgium is very interested in him. He could at this point be worth already 8-10 millions of euros which is about ₦3200-4000 millions or Naira.

The 10 Second Score

After the kick-off, there was one pass back before a long pass from John Ogu reached Paul Onuachu. With combined skill and luck he made his opponent and was able to score from just the outside of the penalty area. The commentator had not even introduced his co-commentator and some of the visitors had not yet arrived. It was truly an extraordinary goal and records are always fun. But as they say, records are made to be beaten. So how long do we have to wait until Nigeria beats this amazing 10-second record? Many of the teammates, managers, fans and journalist for very exciting about this new player that shows himself to be very promising. It was not just the goal that makes people talk about him. He was good throughout the game and according to his teammates also at practice.

The fastest score in the World

The fastest goal ever is in 8,1 second and is made from Christian Benteke when scoring against Gibraltar back in 2016. The second fast score is 0,2-second slower (8,3 seconds) and took place in 1993. So it can take a very long time until this record taken by someone else.


Women in Sports Nigeria

Not a long time ago there was the international women day. We think that women in sports Nigeria should get more celebrated. Of course, it has to be put into the circumstances that so far male athletes are bringing more spectators and more sponsor money. But could it be that we are slowly seeing a change? Check out this article to find how who is our most successful female athletes in Nigeria. You will also find useful information on what it takes for women to be more acknowledges in sports in Nigeria.

Famous Nigerian Athletes

The first medals were won as late at 1992 at the Olympics in Barcelona. It was at 100 m x 4 so it actually brought in 4 medals. It was celebrated as it was a gold medal.

Four years later it was time again Chioma Ajunwa won a gold medal as the first black African women in an individual OS field event. It was in the long jump and it was 7.12m. Nigeria also won a silver medal in 400 m x 4 as well as Bronze in 200 m.  In this Olympics in Atlanta, all the medals for Nigeria were accomplished by Nigerian women.

Another four years later in the 2000 Olympics in Sydney the popular Glory Alozie came in second place in hurdles and won a silver medal.

The OS in 2004 was not a successful year for the Nigerian women athletes but in 2008 in Beijing again the women accomplished to get a silver medal in 100 m x 4 as well as a silver medal in long jump.

What to do to increase the awareness

What can we do to increase the awareness for female athletes in Nigeria and women in sports in general? One thing that is the first step is for the athletes themselves to make the sport more fun to watch. Make interviews, talk, open up yourself to the people. Become popular so in that way you are able to have many people that cheer for you and to get sponsors. To become a role model for other athletes there should be plenty of opportunities for athletes to get sponsorships. Especially now when there are many online casinos in Nigeria there are even more possibilities.

But it could also be a good idea to talk to the national sports committee. They have some money that they can sponsor athletes with. The Nigeria Olympic Committee can be found at nigerianoc.org. Hope you learned something from this article and do not forget to appreciate your women in sports Nigeria. They are doing a fantastic job representing our country and putting it on the map for other nations to learn about Nigeria.


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