red devil Wrote: ------------------------------------------------------- > Bookmakers don't solely predict as such, their > odds are also a reflection of what's already been > bet, so for instance if a series of large bets > were placed on a Labour win today, the odds would > immediately be shortened to limit their pay out on > a Labour win... This is indeed the case. Once up and running and assuming a level field of information dissemination, the bookmakers has no interest in the actual outcome of a wager, he crunches numbers and reflects this in the price. To suggest that a bookmaker is somehow ahead of the curve is erroneous. He has no skin in the game if he chews his numbers correctly.