Rivalled only perhaps by darts’ players, few do mental arithmetic as well as your average punter.
He might have struggled with mathematics at school, but ask him the return from $20 at $2.75 and he’s worked out what to do with the $55 before the cooperative horse has slowed to a gallop.
And yet, ask the same punter how much the bookmaker will make from the same race, and he won’t know what you’re talking about. After all, the bookmaker lost, didn’t they?
If you’re new to betting, or you are the punter described above and you want to become more profitable, understanding how bookmakers decide on the odds they offer punters is crucial to your success.