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Can Bookies’ Odds Prove a Useful Fantasy Football Tool?

Last week I asked myself the question ‘Can the bookies be used as a tool for FPL?’ Well, Gameweek 2 has finished, and here are the results.

Gameweek 2 Games

Liverpool vs Bournemouth

Liverpool were the clear favourites for this game and although the game turned out to be a low-scoring one, Benteke repaid those who put the armband on him. Just like the bookies predicted. Verdict: Backing the proven goalscorer proved accurate.

Aston Villa vs Manchester United

The bookies had this down as a tight, low scoring affair with a 1-0 United victory and they had this absolutely spot on. Playing but not captaining your United options was the right choice and those with Villa’s Micah Richards were rightly advised to play only if they had to. Verdict – Spot on

Southampton vs Everton

The bookies had this down as a 1-1 sort of match, a tight affair but not a lot of people saw this result coming. Having said that, because of the predicted tightness of the match (beforehand) the bookies suggested not to captain Graziano Pelle or Sadio Mane. Verdict – wrong result but right advice for Fantasy managers. 

Sunderland vs Norwich

A tight affair was predicted but Sunderland just cannot defend right now, something that the bookies didn’t factor in. Verdict – wrong result.

Watford vs West Brom 

You almost felt it was the wrong time for Watford to be playing against West Brom, after the Baggies’ 3-0 defeat to Manchester City. West Brom would surely tighten up and the betting reflected this with poor odds offered on this being a high scoring clash. Verdict – Spot on with a drab 0-0 game.

Tottenham vs Stoke

Tottenham were the favourites but the over/under market was split down the middle; this suggested a high-scoring affair and a punt with your captain could have worked in this match. With the ensuing 2-2 thriller, those backing Nacer Chadli were rewarded.  Verdict – The bookies again, were spot on this one, although Harry Kane owners remain miffed.

Swansea vs Newcastle

Swansea were the rightful favourites and the bookies had the first goal as the most important. Once the Swans hit first, the result never looked in doubt. Newcastle’s Daryl Janmaat was sent off, which you could argue may skew things, but even with 11 v 11, it was very likely to be the same outcome as the bookies predicted. Verdict – Bookies were spot on again.

West Ham vs Leicester

Every market in this game was split down the middle; flip a coin was the suggested option. It was hard to predict, which meant Fantasy managers would have been advised to play their attacking assets from each team but perhaps avoid captaining them. Verdict – Bookies hedged their bets for this and with a narrow Leicester victory they were proved right to do so.

Crystal Palace vs Arsenal

Arsenal were the favourites with a 1-0 or 2-1 victory, coming in a tight affair. Verdict: The bookies had this game down to a tee. This type of clash with a heavyweight against a team known for conceding is a great example of how following bookies odds can reap dividends. Verdict – Another gold star for the bookies.

Manchester City vs Chelsea

City were favourites to win, with the overs/under market fairly split down the middle. Verdict –  Bookies did well here, City won the game, convincingly in my opinion.

Conclusion

Let’s be realistic, the sample size is small, maybe it was a fluke, maybe it’s a sign of what’s to come this season, who knows. But consider this, of the results that the bookies got right: Liverpool game, Manchester United game, Swansea game, Arsenal game, City game and the Tottenham game, these are arguably the fixtures with the best captaincy options. Fantasy managers looking for a strong armband selection are advised to keep a close eye on the odds ahead of the weekend.

59 Comments Post a Comment
  1. J0E
    • Fantasy Football Scout Member
    • Has Moderation Rights
    • 14 Years
    8 years, 8 months ago

    I must admit I did look at the odds when deciding on captaining Benteke. They are usually pretty good when it comes to backing reliable scorers.

    1. Chenku╰☆╮
      • 9 Years
      8 years, 8 months ago

      Common now.. An offside goal was extremely lucky!!

      1. J0E
        • Fantasy Football Scout Member
        • Has Moderation Rights
        • 14 Years
        8 years, 8 months ago

        But that's what odds are about factoring in things like that. Liverpool's main striker at home against a promoted side - the odds of luck being on his side were higher than if he was away to a tough side I'd say.

        1. FPL P0ker PlAyer
          • 9 Years
          8 years, 8 months ago

          Yes and No. I think people need to be able to exercise great care here, as arguably bookies' odds mostly represent a kind of rigged supply and demand market. I say rigged because their job is to build in a profit margin for whatever outcome. This means they have to guard against a 'losing book', which they do by (for the most part correctly) anticipating where the main volumes of betting traffic will be.

          Consequently, we have to be able to use our judgement to factor in for the bias caused by the popular picks, which comes down to how much you trust you have in the 'groupthink' or 'hivemind' versus how much you distrust the 'madness of crowds'! Personally, I think Psychology has well documented how faulty most people's perceptions regarding probability really are, so I tend to filter bookies' odds for the effect of popular delusions!!

          1. Barry Woj
            • 11 Years
            8 years, 8 months ago

            Yeah, a good example is betting on England to win a World Cup (in an English bookies). The odds will be reduced to lower the bookies' risk and compensate for the huge amounts of English fans putting that bet on. The true probability of England winning is therefore not necessarily reflected in the odds.

            1. FPL P0ker PlAyer
              • 9 Years
              8 years, 8 months ago

              Exactly so! I remember profitable years gone by betting against English teams in Europe precisely because of the distorting effect of jingoistic nationalist sentiment on the odds bookies offered. 🙂

              Admittedly, those days have gone now with the advent of much wider coverage of other leagues, together with a generally better informed betting public nowadays.

      2. tokara
        • 9 Years
        8 years, 8 months ago

        look careful, tekkers wasnt offside!

        1. Forza
          • Fantasy Football Scout Member
          • 9 Years
          8 years, 8 months ago

          But Coutinho was; it should never have stood.

    2. Your Mum's Athletic
      • 12 Years
      8 years, 8 months ago

      Cheers Jonty, looking forward to see-ing how it goes down on here. Giggity

      1. J0E
        • Fantasy Football Scout Member
        • Has Moderation Rights
        • 14 Years
        8 years, 8 months ago

        Benteke is a great example of how the bookies are so often right.

        I'll be keeping a close eye on goalscorer odds this weekend.

        1. Your Mum's Athletic
          • 12 Years
          8 years, 8 months ago

          Shall I do it again for GW3 you think?

          1. Woy
            • 10 Years
            8 years, 8 months ago

            I would like you to!

            1. Your Mum's Athletic
              • 12 Years
              8 years, 8 months ago

              I shall Woy

          2. J0E
            • Fantasy Football Scout Member
            • Has Moderation Rights
            • 14 Years
            8 years, 8 months ago

            Yep....looks good.

          3. The Master
            • Fantasy Football Scout Member
            • 11 Years
            8 years, 8 months ago

            Please do, its an interesting study and makes for equally interesting reading!

        2. Sconeaus - The Dude Abides
          • 9 Years
          8 years, 8 months ago

          Let's be honest jonty, you'll captain aguero if wildcard activated 🙂 already checked he's 8/13 to score anytime!

          Was laughing listening to scoutcast, I'd done wc on Sunday eve n have I think 9 of same as your thoughts on transfers 🙂

          Hop in to reach my record rank 922 again, after an abysmal start

    3. Dino
      • Fantasy Football Scout Member
      • 14 Years
      8 years, 8 months ago

      Same here Jonty, when I think it is tight between budget players I'll always check the odds

  2. Tomlette Greggs
    • Fantasy Football Scout Member
    • 12 Years
    8 years, 8 months ago

    Top article.

  3. DanwiseTheBrave
    • 12 Years
    8 years, 8 months ago

    +1 for use of the word miffed

  4. Jaffalicious! #SomosCubanos
    • 10 Years
    8 years, 8 months ago

    Nice read YMA! Who were you using as the bookies?

  5. Goaldigger
    • 12 Years
    8 years, 8 months ago

    Main rival uses odds all the time and finished top 100 in the global ranking last season.

    1. Goaldigger
      • 12 Years
      8 years, 8 months ago

      I do it quite often too and have two top 1k placings to show for it. Bit boring though.

      1. fedolefan
        • 9 Years
        8 years, 8 months ago

        What websites do you use?

        1. Goaldigger
          • 12 Years
          8 years, 8 months ago

          Oddschecker

    2. Your Mum's Athletic
      • 12 Years
      8 years, 8 months ago

      The exact point of the article, if it can be used as a tool to help you with FPL, then anything over the 'casual' should be used in my opinion

      1. df34
        • Fantasy Football Scout Member
        • 11 Years
        8 years, 8 months ago

        Good artice YMA, enjoyable read. However, I would have to disagree with a few of your conclusions.

        Saints were strong favs by kick off. They were Evens, while Eve drifted to over 3/1. ( 16/5 in places)

        The odds suggested that Eve only had a 25%( at best ) chance of winning the match.

        Also the bookies had Arsenal as low as 4/5 and Palace 9/2. Bookies were very confident of Arsenal victory and hence only gave Palace an approx 18% chance of winning the game.

        Also, in the Chelsea game I am not sure how "the bookies did well here"

        However, I agree with your point that we should use the odds as a tool to assist us in making more informed decisions.

        Cheers mate

  6. Cowboy John
    • 11 Years
    8 years, 8 months ago

    It's not a case of the bookies being right or wrong. Those were the correct odds based on a combination of factors such as the individual team, recent and historical form etc.

    The bookies' odds strip away the individual bias and strong opinions that can often rule over our FPL decisions.

    1. Bauerhaus 24
      • 10 Years
      8 years, 8 months ago

      exactly this.

  7. Paracelsus
    • 13 Years
    8 years, 8 months ago

    Keep in mind that bookies are 'right' on calling a game correctly when they even out bets on both sides of the equation (along with the more complicated draws in football). They are not looking to predict but have the money distributed evenly where they can maximize their profit. This is still useful and I use it, too. Maybe it is more interesting on goal scorers although they will be going with public expectations based on past results with some hype, too. That's one I may watch more closely. Thanks.

    1. FPL P0ker PlAyer
      • 9 Years
      8 years, 8 months ago

      ^This. A better and more succinct phrasing of the point I was trying to make.

    2. AB.
      • 14 Years
      8 years, 8 months ago

      Spot on. Well said.

  8. Bøwstring The Carp
    • 12 Years
    8 years, 8 months ago

    Definitely a useful tool for uncertain FPL managers

    Even I was persuaded by the Benteke odds given by the bookies (so much that I put my money where my mouth was)

    I do like a Monday night game also; after every team playing Saturday/ Sunday, the two teams involved know what is expected of them and what result they can't afford to leave with.

    GW1 MNF: 3-0 Man City - Sterling captained and was very unlucky after his failed 1v1 attempts
    GW2 MNF: 1-0 Liverpool - Benteke captained and delivered

    GW3 MNF: Arsenal V Liverpool - if I had Sanchez I would probably (c) him, but now that Aguero is fit I'll be giving him the armband against a Baines-less Everton - which could be dangerous against the quick wing play of Sterling and Navas

  9. Mr. Grv
    • 9 Years
    8 years, 8 months ago

    Nice read

  10. Now I'm Panicking
    • 9 Years
    8 years, 8 months ago

    I agree with some of the other comments - the horribly overused phrase "the bookies got it right/wrong" always annoys me - the bookies make the odds based on the likelihood something is going to happen. So, if a horse wins at 100-1 for example, the fact that the horse one doesn't mean the bookies were wrong, it just means it was the one time in 101 that the horse came first.

    1. Coaly
      • 11 Years
      8 years, 8 months ago

      that's not what it means at all

  11. The Raging Bull
    • 10 Years
    8 years, 8 months ago

    I found the paddy power article posted on this site on Saturday mornings to be very accurate and worked a treat for me last season 🙂

  12. boro_faithful
    • 11 Years
    8 years, 8 months ago

    Top article, Jonty. What website(s) did you use to check the odds?

    It would be interesting to track how the bookies do over the course of the season, or how they've done over the last two or three seasons.

  13. Van Klinkert Delarosa
    • 9 Years
    8 years, 8 months ago

    I like the idea of using odds from bookie to setup my fantasy team sometimes, especially with defensive rotation. But I don't really know how to read the odds sometimes, because there is too many format out there; over/under, fraction, decimal etc etc. And I never do bets.

    By saying that, I would hope this become one of the new weekly article before and after every gameweek, if it is not too much to ask. 🙂

    Top work, YMA.

    1. fedolefan
      • 9 Years
      8 years, 8 months ago

      My problem too.

  14. dgs2
    • 9 Years
    8 years, 8 months ago

    great article, well worth the read... as others have asked, what websites are you using for getting the odds?

  15. PÍE
    • 9 Years
    8 years, 8 months ago

    If I'm undecided between which defender to play, then I might check the CS odds, but I've never really considered it for anything else.

  16. Rhinos
    • 10 Years
    8 years, 8 months ago

    Noce article YMA
    This is way better the other way round though. Finding a bit of value from the bookies when you know a player is playing out of position or you know how many shots or touches inside the box your fancy has had.
    Sorry but if you need the bookies to confirm that Benteke at home to Bournemouth is a good pick then you're in the wrong game

    1. Rhinos
      • 10 Years
      8 years, 8 months ago

      *Nice

      1. Rhinos
        • 10 Years
        8 years, 8 months ago

        Pps I'm happy to do a weekly round of odds if there is a demand for it, this community is about info sharing afterall 🙂

  17. C-Dawgg
    • 9 Years
    8 years, 8 months ago

    bookies predict hundreds of things for each game so of course they will get one right. It's easier to apply this once the game has finished.

  18. Bauerhaus 24
    • 10 Years
    8 years, 8 months ago

    Ive got a massive problem with this. Bookies aren't trying to predict one-off results: instead they work out the probability of each outcome, and the rest is down to luck. The only way you could say if they were 'correct' or not is to play the same game 100 times under the same conditions.

    If a team is 50/1 to win, thats means the bookies estimate that if that match were to be played with the same conditions 51 times, the underdogs could be expected to win once. Whether or not this particular result is the only one that occurs is completely down to chance.

    1. Ruth_NZ
      • 9 Years
      8 years, 8 months ago

      Correct. They don't expect to make a profit on every game. They expect to make an overall profit on 100 or 1000 games.

  19. Ruth_NZ
    • 9 Years
    8 years, 8 months ago

    Bookmakers fixed odds (as here) incorporate 2 things: their estimates of probability and their estimates of popular (punter) support.

    Popular players and teams are usually under-priced as a result and unpopular ones over-priced. That makes players from Liverpool, Arsenal etc look better if you go by the Bookies' odds than the probabilities actually are. Any professional bookmaker will tell you this in private though, wanting to be seen to offer good value, they won't admit it in public.

    In particular the "anytime goalscorer" odds must be taken with a big pinch of salt. If a player doesn't feature then the bet is refunded. So Costa was, for example, a short price to score in games last season when he was actually out injured. If you factored in the injury doubt then his odds to score (and his probability of scoring) were very much longer than the Bookies were offering.

  20. bjorshol
    • Fantasy Football Scout Member
    • 9 Years
    8 years, 8 months ago

    I really want Kolarov in for GW3. The RMT-tool also seems very confident he'll start. What do YOU guys think?

  21. Ginkapo FPL
    • 12 Years
    8 years, 8 months ago

    Does the RMT not incorporate bookmaker odds into the model?

    The whole thing fails on the basis of what Mark feels the chances of each player scoring is if the team scores....

  22. Kalix
    • Fantasy Football Scout Member
    • 12 Years
    8 years, 8 months ago

    Of course bookie odds are useful!

    If there are people out there who question that, then I don't get the logic. Unlike the rest of us...they are literally paid to know these kinds of things.

    1. Kalix
      • Fantasy Football Scout Member
      • 12 Years
      8 years, 8 months ago

      more than that, they aren't just paid to know it...when they're wrong, money is taken away from them.

      If I'd trust anyone, I'd trust the bookies.

    2. Ruth_NZ
      • 9 Years
      8 years, 8 months ago

      No, you evidently don't understand how bookies work if you think their odds represent probabilities.

      Bookmakers' odds represent their punters' view of probabilities which are then adjusted to ensure the bookies always have the percentages in their favour (known in the business as the over-round). If they went about it any other way they would be betting themselves.

      A betting book is market based, not probability based. Fixed odds betting is slightly different but still includes that component as a major feature

      1. Rhinos
        • 10 Years
        8 years, 8 months ago

        you are dead right Ruth but that doesn't mean they are not useful, afterall captain polls are just a round up of 'punters' views too and the bookies will be have a far bigger sample size than we do on here

        1. Ruth_NZ
          • 9 Years
          8 years, 8 months ago

          Yes, and look at how bad the captain poll is. 😕

          But I'm not saying they aren't useful, I look at them myself sometimes. I'm just saying that you have to take them with a pinch of salt and realise that what you are looking at is a way away from being a neutral expression of probabilities.

      2. Ginkapo FPL
        • 12 Years
        8 years, 8 months ago

        So they are usually pretty accurate, except where ManUtd are concerned.... Especially true for their early odds.

      3. Kalix
        • Fantasy Football Scout Member
        • 12 Years
        8 years, 8 months ago

        Thanks for the insight Ruth.

        You learn something new every day! 😛

  23. Sharkytect
    • Fantasy Football Scout Member
    • 9 Years
    8 years, 8 months ago

    Great article. Would be good to see this again over several gameweeks...

  24. Rex Lapis
    • 9 Years
    8 years, 8 months ago

    how to read odds?