Do odds really reflect reality?

[danherbias07]

The odds reflect a lot of things about sport event but it's important to note that they are not always a factor. For example if the odds of a particular team to win keeps on increasing because they are losing maybe with a difference of two goals, the odd shows you that it's almost impossible for that team to win but sometimes things can turn around really fast and the unexpected can happen. It's not always about the odds

In football, that's the case, because it's really tough to score. In basketball, it's different. A 10-point lead will not give a high multiplier in odds if the team is really good. So, it doesn't really say that the opponent will win because the odds are not that far yet. But yes, it tells that the other team is winning even if we do not see the score.
There are cases when heavy favorites are down by 15 points, but the odds are still at x1.9 to x2.0. That could mean they are playing against a weak team and there's a chance of a come back especially if there's a lot of time remaining in the game.

[Mindyspace]

Most of the time, no. Odds represent the value bettors assign to the probabilities of an event, but that doesn't mean they accurately reflect reality. In many cases, perhaps even most, the odds end up being at odds with what might actually happen.

This is precisely where the opportunity comes in: closely following events you know well can reveal situations where the odds don't reflect reality. And it's in this detail that you can take advantage.

[Fivestar4everMVP]

Most of the time, no. Odds represent the value bettors assign to the probabilities of an event, but that doesn't mean they accurately reflect reality. In many cases, perhaps even most, the odds end up being at odds with what might actually happen.

This is precisely where the opportunity comes in: closely following events you know well can reveal situations where the odds don't reflect reality. And it's in this detail that you can take advantage.

You are absolutely right, finding such opportunities and taking advantage of them by betting on such game is what we often refer to as value betting, it is very profitable but not something every sports bettor can utilize because it's often time consuming.

Finding value in odds to bet on is often times very time consuming but also, it's often time a great opportunity to make good wins and as well, good money, odds are never a true reflection of reality as long as its sports betting we are talking about, it's basically more of trying to guess what the reality could turn out to be which as many of us must have seen a several times, it turns out to be wrong sometimes, while other times, it may be right.