What Online Bookies Can Learn from Tennis Wagering
The latest major tournament in tennis yielded unforeseen results. The less than even money chalk, Novak Djokovic, lost before the final, seriously changing the odds for the Men’s Singles 2016 Wimbledon Championship. Andy Murray, a 3 to 1 shot before 2016 Wimbledon started, suddenly became an even money shot. What are the lessons for online bookies from the most recent, huge, upset in tennis history?
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Setting Betting Limits
By working with a pay per head company, those bookies who took action on Murray before Djokovic’s inexplicable loss, could have controlled how much action they wanted to take on Murray. It was a given that Murray was going to be the second choice in the betting to win the 2016 Wimbledon. He had finished as the runner-up at both the Australian Open and the French Open to Djokovic.
Murray’s best game is when he is playing on a grass court. He was a lock to garner the most wagering money after Djokovic. Those bookies who failed to set betting limits on Murray are likely to have taken a hit and can definitely learn from this and avoid having this situation happening again.
Sometimes the Chalk Wins
A big problem with 2016 Wimbledon tournament for online bookies was the fact that Serena Williams was going off at +125 before the tournament started. While Djokovic lost, Serena practically waltzed to the championship at Wimbledon.
She played perfect when taking home yet another 2016 Wimbledon trophy. There are a couple of things that bookies could have done to make sure that they didn’t end up paying too much money out on Serena’s Wimbledon victory.
First, online bookies could have set odds lower on Serena than what was coming from Las Vegas. Just because Serena was at +125 at the beginning of the tournament, it doesn’t mean that bookies couldn’t have offered her at odds of +110 or even +100. That’s an advantage of working with per head software, being able to set specific odds on events.
Second, bookies should have definitely set a betting limit on Serena to win 2016 Wimbledon at +125. A betting limit on Serena to win any tennis tournament makes sense. This could have been a general betting limit of $100 dollars on any tennis player to win 2016 Wimbledon.
The latest major tennis tournament provides some lessons to online bookies. Always set betting limits and consider changing the odds out of Las Vegas. This is particularly true when it comes to favorites and second choice tennis players in major tournaments.
Now that you’ve had a quick lesson on tennis wagering, you’re ready for the 2016 U.S. Open Tennis tournament starting in late August 2016.
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