How do sports betting companies come up with the betting odds for the different sides?

[adamtomson]

For most operators who run their betting website, they receive the odds from their platform provider, or data feed solutions. let’s say you want to run your betting website, it will be expensive and very hard for you to get your own sportsbook and odds. That’s why there are providers in the industry who provide odds and live odds, such as feedconstruct.com .

Now where does this provider get the odds, that’s a question which is pretty hard to answer, they have an entire team who deals with statistics, another team who works on the odds. However, the odds are decided by different parties, such as, big players, global situation, stock market, and accurate markets, such as the Asian market. The odds can change based on the bets made, because bookmakers want to keep their profitability.

 

[A_Skywalker]

My understanding is that the companies that make the odds have huge statistics and they compile some odds. After that odds are posted in the bookmaker online the odds start to change according to people's bets. If a lot of people bet on certain outcome the odds for that outcome will drop for example.