{ "id": 344653, "title": "Question : Are the odds decided by the officials or by the people ? ", "url": "/competitions/big-data-derby-2022/discussion/344653", "author_name": "", "post_date": "2022-08-16T05:32:22.878110500Z", "votes": 4, "comment_count": 3, "views": 0, "content": "

I noticed that some jockeys have absurdly high winning chances, so while browsing i found this article where it says that the odds of winning are calculated by the people. Can someone please clarify ? \"\"

", "messages": [ { "id": "1900554", "postDate": "08/16/2022 05:32:22", "content": "

I noticed that some jockeys have absurdly high winning chances, so while browsing i found this article where it says that the odds of winning are calculated by the people. Can someone please clarify ? \"\"

", "rawMarkdown": "I noticed that some jockeys have absurdly high winning chances, so while browsing i found [this article ](https://ontarioracing.com/betting-101/understanding-odds) where it says that the odds of winning are calculated by the people. Can someone please clarify ? ![](https://www.googleapis.com/download/storage/v1/b/kaggle-forum-message-attachments/o/inbox%2F5826739%2F2c8decd95927470d35902c915941d82b%2Foutput.png?generation=1660627739730733&alt=media)", "votes": null }, { "id": "1901405", "postDate": "08/16/2022 16:17:59", "content": "

The odds are decided by how much money is wagered on each horse - its called a parimutuel system. The more money wagered, the lower the odds and the converse also holds less money wagered by the public, would show higher odds. Parimutuel wagering is essentially a crowdsource system.

", "rawMarkdown": "The odds are decided by how much money is wagered on each horse - its called a parimutuel system. The more money wagered, the lower the odds and the converse also holds less money wagered by the public, would show higher odds. Parimutuel wagering is essentially a crowdsource system.", "votes": null }, { "id": "1902865", "postDate": "08/17/2022 01:16:44", "content": "

The odds are determined by the public wagering on the individual horses. The best jockeys ride the best horses, as such will have a much higher win percentage than others. The top jockeys will typically win 15-25% of the races they ride. You will find that, in general, the horses with the lower odds (the public believes, based on their wagers, they are more likely to win) will have the best jockeys riding them.

", "rawMarkdown": "The odds are determined by the public wagering on the individual horses. The best jockeys ride the best horses, as such will have a much higher win percentage than others. The top jockeys will typically win 15-25% of the races they ride. You will find that, in general, the horses with the lower odds (the public believes, based on their wagers, they are more likely to win) will have the best jockeys riding them.", "votes": null }, { "id": "1913529", "postDate": "08/25/2022 10:54:42", "content": "

Maybe the public thinks this jockey has more chances of winning so they bet more on him, as others before me said

", "rawMarkdown": "Maybe the public thinks this jockey has more chances of winning so they bet more on him, as others before me said", "votes": null } ], "comments": [ { "id": 1901405, "author_name": "nythanyra", "author_url": "", "post_date": "08/16/2022 16:17:59", "content": "

The odds are decided by how much money is wagered on each horse - its called a parimutuel system. The more money wagered, the lower the odds and the converse also holds less money wagered by the public, would show higher odds. Parimutuel wagering is essentially a crowdsource system.

", "votes": null, "replies": [] }, { "id": 1902865, "author_name": "stevenr59", "author_url": "", "post_date": "08/17/2022 01:16:44", "content": "

The odds are determined by the public wagering on the individual horses. The best jockeys ride the best horses, as such will have a much higher win percentage than others. The top jockeys will typically win 15-25% of the races they ride. You will find that, in general, the horses with the lower odds (the public believes, based on their wagers, they are more likely to win) will have the best jockeys riding them.

", "votes": null, "replies": [] }, { "id": 1913529, "author_name": "nurielreuven", "author_url": "", "post_date": "08/25/2022 10:54:42", "content": "

Maybe the public thinks this jockey has more chances of winning so they bet more on him, as others before me said

", "votes": null, "replies": [] } ], "raw_markdown_by_id": { "1900554": "I noticed that some jockeys have absurdly high winning chances, so while browsing i found [this article ](https://ontarioracing.com/betting-101/understanding-odds) where it says that the odds of winning are calculated by the people. Can someone please clarify ? ![](https://www.googleapis.com/download/storage/v1/b/kaggle-forum-message-attachments/o/inbox%2F5826739%2F2c8decd95927470d35902c915941d82b%2Foutput.png?generation=1660627739730733&alt=media)", "1901405": "The odds are decided by how much money is wagered on each horse - its called a parimutuel system. The more money wagered, the lower the odds and the converse also holds less money wagered by the public, would show higher odds. Parimutuel wagering is essentially a crowdsource system.", "1902865": "The odds are determined by the public wagering on the individual horses. The best jockeys ride the best horses, as such will have a much higher win percentage than others. The top jockeys will typically win 15-25% of the races they ride. You will find that, in general, the horses with the lower odds (the public believes, based on their wagers, they are more likely to win) will have the best jockeys riding them.", "1913529": "Maybe the public thinks this jockey has more chances of winning so they bet more on him, as others before me said" }, "source": "meta" }