How do Sportsbooks get live odds when they have live betting ?

[bitllionaire]

They have people controlling odds and they have automatised systems controlling huge amounts of stats

[abcdave]

I don't think people are manually updating the odds in real-time, more likely there is a central server using sophisticated algorithms that is taking care of the live sport events.

They actually use elves and wizzards  . It will be all automated with fancy algorithms but how do they get the odds from the live games is what I'd like to know. Say if there's a minor league game or a womens football playing a friendly who is updating the odds or stats as it can't be automated especially if its not on tv. It is quite fascinating how it all works and would love to know more.

[Wendigo]

I don't think people are manually updating the odds in real-time, more likely there is a central server using sophisticated algorithms that is taking care of the live sport events.

They actually use elves and wizzards  . It will be all automated with fancy algorithms but how do they get the odds from the live games is what I'd like to know. Say if there's a minor league game or a womens football playing a friendly who is updating the odds or stats as it can't be automated especially if its not on tv. It is quite fascinating how it all works and would love to know more.

Every sport event is getting recorded as it is playing out by the officials and all the stats are getting uploaded in real time that's why Flashscore can update the livescores because they are receiving the feeds and aggregating them. Now the odds providers simply attach the odds to this and voila.

[vendetahome]

I don't think people are manually updating the odds in real-time, more likely there is a central server using sophisticated algorithms that is taking care of the live sport events.

They actually use elves and wizzards  . It will be all automated with fancy algorithms but how do they get the odds from the live games is what I'd like to know. Say if there's a minor league game or a womens football playing a friendly who is updating the odds or stats as it can't be automated especially if its not on tv. It is quite fascinating how it all works and would love to know more.

Every sport event is getting recorded as it is playing out by the officials and all the stats are getting uploaded in real time that's why Flashscore can update the livescores because they are receiving the feeds and aggregating them. Now the odds providers simply attach the odds to this and voila.

well if you would watch it in real time on the tennis court or something like that and do as fast bets as you can wouldnt it be possible to get some profit?

[Wendigo]

I don't think people are manually updating the odds in real-time, more likely there is a central server using sophisticated algorithms that is taking care of the live sport events.

They actually use elves and wizzards  . It will be all automated with fancy algorithms but how do they get the odds from the live games is what I'd like to know. Say if there's a minor league game or a womens football playing a friendly who is updating the odds or stats as it can't be automated especially if its not on tv. It is quite fascinating how it all works and would love to know more.

Every sport event is getting recorded as it is playing out by the officials and all the stats are getting uploaded in real time that's why Flashscore can update the livescores because they are receiving the feeds and aggregating them. Now the odds providers simply attach the odds to this and voila.

well if you would watch it in real time on the tennis court or something like that and do as fast bets as you can wouldnt it be possible to get some profit?

Some pro bettors actually are sitting in the stadiums and betting on their phones as the events are happening so they have an edge over the books because the tv and online livescores are getting a slight delay.

[bitbaby]

Don't know how they do it, if I had to guess I'd say they have experience bookies who read stats and other factors and provide their odds based on those.

But I do agree that there is a central server because I mostly see the odds are almost the same on all the sporting sites.

[shanem]

I don't think people are manually updating the odds in real-time, more likely there is a central server using sophisticated algorithms that is taking care of the live sport events.

They actually use elves and wizzards  . It will be all automated with fancy algorithms but how do they get the odds from the live games is what I'd like to know. Say if there's a minor league game or a womens football playing a friendly who is updating the odds or stats as it can't be automated especially if its not on tv. It is quite fascinating how it all works and would love to know more.

Every sport event is getting recorded as it is playing out by the officials and all the stats are getting uploaded in real time that's why Flashscore can update the livescores because they are receiving the feeds and aggregating them. Now the odds providers simply attach the odds to this and voila.

well if you would watch it in real time on the tennis court or something like that and do as fast bets as you can wouldnt it be possible to get some profit?

Some pro bettors actually are sitting in the stadiums and betting on their phones as the events are happening so they have an edge over the books because the tv and online livescores are getting a slight delay.

In the past, it may be possible to exploit using this method.
Nowadays, there is a delay in sports betting so that people cannot exploit delays in sportsbook.

[Light]

Don't know how they do it, if I had to guess I'd say they have experience bookies who read stats and other factors and provide their odds based on those.

But I do agree that there is a central server because I mostly see the odds are almost the same on all the sporting sites.

I'd highly doubt that the odds are entirely determined by people. I'd be inclined to believe that most odds for most major sporting events and general world events are calculated using statistics through computer algorithms (using historical data/correlation + current information as future predictors). Then they may be adjusted marginally by hand to try and attain even action on both sides (and thus guarantee a profit) rather than give odds that are truly indicative of the real likelihood.

As to the odds themselves, they would likely be sold by odds providers and possibly just copied by competitors.

[sherbyspark]

Some pro bettors actually are sitting in the stadiums and betting on their phones as the events are happening so they have an edge over the books because the tv and online livescores are getting a slight delay.

In the past, it may be possible to exploit using this method.
Nowadays, there is a delay in sports betting so that people cannot exploit delays in sportsbook.

There aren't really people sitting in the stadiums doing the bets these days. The odds for live update really fast, and its not like in a tennis game if score is 40-15 , and the first guy wins another point, then the odds wouldn't really change dramatically.
If this was the case, sports books would shut down as it could become really exploitable even for small odds.