Information asymmetry in gambling.

[Findingnemo]

Probably they might have more data in the stats and form of players. Still, it doesn't mean they know better which is why they are winning in long run, it's simply the reason house always got the edge, when it comes to favorite team that wins the game then rewards are lesser means they are paying lesser amount even when more players won the bet. Still, it's vice versa when the odds are high for the underdog and they managed to win.

[aioc]

So, does information asymmetry exist?

I recommend that you simplify your topic or wording so that we do not have different interpretations of the word or topic, which could make the topic lose its meaning. I have to check online or use AI to find the correct meaning of the word 'asymmetry' and connect it to the topic we're discussing.

The term asymmetry (or asymmetrical) refers to a lack of equality, balance, or correspondence between parts of something. It describes situations where two sides or halves are not identical in shape, size, arrangement, or value.

I believe it exists because bookmakers and tipsters have different approaches to how they process the information they share with their subscribers and followers. So yes, not all tipsters or bookmakers share the same tips or guides, and it's up to the gamblers to check the value being offered.

[mcdouglasx]

Let's talk about information asymmetry in gambling. Many believe that the information asymmetry between bookmakers and players is so enormous, even insurmountable, that players have no chance of winning long-term in sports betting. In other words, gamblers attribute long-term losses to information asymmetry. But let's consider whether this asymmetry is truly so great. Does a bookmaker really know so much more about upcoming sports matches than players today that it's almost impossible for a player to win?
Yet, we live in the age of free neural networks, and we have access to a fantastic amount of free and relatively high-quality information. So, does information asymmetry exist?

The asymmetry exists, but not because bettors lack free access to information or because neural networks can't be used as you mentioned. It's because it involves technical areas (very technical for most) that give the bookmaker an advantage, since they have all these tools. However, I also believe it's not that it can't be overcome, but rather that few have the knowledge and time to try, and prefer to use readily available information in a traditional way.
In any case, the only advantage where the bookmaker perpetuates this asymmetry is in the betting odds, which are set by them or specialized third parties and can be manipulated live to balance them and guarantee long-term profits.

[Fortify]

Let's talk about information asymmetry in gambling. Many believe that the information asymmetry between bookmakers and players is so enormous, even insurmountable, that players have no chance of winning long-term in sports betting. In other words, gamblers attribute long-term losses to information asymmetry. But let's consider whether this asymmetry is truly so great. Does a bookmaker really know so much more about upcoming sports matches than players today that it's almost impossible for a player to win?
Yet, we live in the age of free neural networks, and we have access to a fantastic amount of free and relatively high-quality information. So, does information asymmetry exist?

A bookmaker is not a standalone agent, if there was a single bookmaker out there and we had no way to compare their conclusions, we would be entirely in the dark about whether it is a good value bet or not - simply basing it on this information asymmetry that you mention, with the average person having much less analytical resources at their disposal. However we live in a world where bookmakers are competing against other bookmakers, if it is seen that one has calculated much higher odds than another then they are eventually going to lose all business. There are also peer to peer marketplaces out there, which are a form of crowd sourcing information, but they do actually come in surprisingly close to bookmaker odds most of the time, often holding a tighter margin but requiring fees paid by the player.

[Raflesia]

What does the bookmaker know better than us? Does it just start with the odds that are created? Or some other factors?

The only real advantage of that bookmakers over us, players, is they can see the market very clearly. They can see that bettors have flocked over to a specific team which we won’t be completely sure because sports fans have different opinions. We can only see that most fans think x is the favorite but how much money has actually been placed? Only the bookmakers know.

By looking at this condition, it is indirectly the same between the gamblers and the bookmakers, it's just that the bookmakers are more subjective where they see several probabilities in it but for some gamblers it is more objective where only a few clubs they see as a reference.

On the other hand, making it an advantage of the bookmakers, it is certain that the excess information that the bookmakers have is actually irrelevant because we also as gamblers can do the same thing because it is a choice. The difference in this case is that the bookmakers make this a demand for the work and business they do while for us gamblers make this a condition where we only prioritize emotions and pleasure.

[Agbamoni]

Football is a real life occurrence that is determined by players qualities, determination and consistency in teams performance and not by any tool except there is an act of  manipulation on the game.
What tool do you think can predict accurate life occurrence as the OP just mentioned, as for me I think the only thing they do is use the advance technology to analysis the teams quality and performance which i know gives them an edge to predict what the out come of the game would be at last, although at times there analysis never ends as expected just to justify that there is know accurate tool used to predict real life occurrence

We were not talking about machines that can predict the actual result of a sport gambling. I think you misunderstood us here.
Football is not predictable. And wit that being said, the sportsbook make us of advanced machine to predict odd..not the actual result of a game. They have been using this to stay ahead of bettors. The advanced technology update the odds in real time, if not sports bettor will see opportunities they can take advantage of, especially in live games.

[bubilas]

I don't understand people who can't figure out what this asymmetry in gambling is. It's simply a term meaning that the casino knows what its long-term advantage is. For example, in American roulette, it's five percent, and in blackjack, half a percent. Over time, this shift generates revenue for the casino and takes money from the players. Therefore, casinos don't cheat; they simply let bettors keep playing, increasing the long-term value. It's very simple, and this is something we've discussed many times, because the casino makes all its money over the long term.

[Dunamisx]

Every gambler has their own developed strategy here, because they know that in sport bet, the bookmakers understand the whole the technique applies to favour each party, that is why even at some game, you will discover that some gamblers will have to make a combination to build the odds and risk higher, some may stake big and some uses smaller amount, but it's of no doubt the house has more upper edge, but we also have to smartly play our bets to stand a better chance of winning of all odds.

[danherbias07]

I think they have better knowledge than us.

What I do is always compare myself to Adrian Wojnarowski. That dude was one of my idols when it comes to sports analysis, and he has so much intel and deep analysis that he might win every game that he bets on.
Back to the topic. The comparison between him and a normal sports bettor is far. He has so many connections to ask if one player will really play or not, even if it's not yet game time, and then other stuff that might be crucial and is not informed to the public or the internet. Then there's his pure knowledge about the game. Stats, histories, records, he is like a walking sports wiki, and I doubt anyone could achieve that unless they get serious about doing it.

It's a job for him. It's not for us. We are gamblers. We would rather use the time for something more productive than reading all that, and I think the bookies do have that intel too.

[Hewlet]

Does a bookmaker really know so much more about upcoming sports matches than players today that it's almost impossible for a player to win?
Yet, we live in the age of free neural networks, and we have access to a fantastic amount of free and relatively high-quality information. So, does information asymmetry exist?

The bookmakers are not even making any prediction to assume that if they have enough information about a game before it even starts that it is going to give them any sort of greater advantage than the gambler. they have there own information, no doubt but what places them at a more advantageous position far ahead of the gambler is just because  the gambler is the one that is taking the risk while they on their own end are just setting the odds. most of the games are even luck based game to even start with and so, neither the gambler nor the casino has an obvious edge.

[YOSHIE]

So, does information asymmetry exist?

If you look at it normally, yes, it is very likely that the bookie has information asymmetry in the world of sports, the bookie could collaborate with certain parties, I mean those who are responsible for the sport, the chances of the bookie's information and knowledge are a greater percentage than the gambler himself.

The point is that bookies don't want them to lose, they will create maximum profits possible, that's what asymmetry applies, so that the bets they place are always imbalanced between gamblers. If you say that information asymmetry for bookies does exist, it's not just a myth.

[robelneo]

..So, does information asymmetry exist?

It does exist; not all gamblers have access to the correct information about competing teams or matches. Some gamblers have insider information, making it accessible to a few; there is early information accessible only to a few.

One example is horse betting. The information coming in will give an edge to those who got early information before the race starts, like the favourite horse not being in tip-top shape because of a slight injury.
Or one boxer going to the fight with an injury, but only a few know about it, and it is leaked to a few bettors, giving them an edge in betting.

[Orpichukwu]

Probably they might have more data in the stats and form of players. Still, it doesn't mean they know better which is why they are winning in long run, it's simply the reason house always got the edge, when it comes to favorite team that wins the game then rewards are lesser means they are paying lesser amount even when more players won the bet. Still, it's vice versa when the odds are high for the underdog and they managed to win.

The house always wins; that's why they are still in business. Whatevermeans they are using to determine odds in favour of both them and the players is something that has not been discovered yet. In all matches there will always be a set of gamblers who will be winning, and we also have those who will be losing, which means that no matter how much they will have to pay to winners, there is still enough balance to keep them in profit.

[Findingnemo]

~ In all matches there will always be a set of gamblers who will be winning, and we also have those who will be losing, which means that no matter how much they will have to pay to winners, there is still enough balance to keep them in profit.

That's what I am saying and the system is designed in a way that if more people win the bet then the total payout will be lesser because the favorite team will have lesser odds and when a higher odd team wins then it must be less number of people bet on them which makes them sustainable as a business and their revenue will be enough to cover the profit and loss on most occasinos and there can be an exception that is why they try to limit the maximum winning amount by having a cap value.

[rakebit]

Information asymmetry is real, especially in live betting or niche sports where odds don’t update fast enough. Sharp bettors use early data, injury leaks, or odds tracking tools to find value before markets balance.

Do you think small bettors can ever match that level of edge?