The book price is the general term for any odds on any bet that your chosen bookmaker is running.
This applies to all sports that a
sportsbook
is running and can also be used to describe the overall price of an
accumulator
or any special bets such as
Super Yankee.
The book price moves as punters lay bets on a specific event. The bookmaker sets the initial
starting price, but then adapts to how the market is betting.
For example, the book price of a football match between Manchester United v Huddersfield may have the away side’s starting book price at 20/1, but if that price sees plenty of action, a bookmaker will often reduce those odds.
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How is Book Price used in Sports Betting?
The book price in sports betting is the first step to placing any bet as whatever price you see on a bet, is that bookmaker’s book price.
For example, in horse racing, prior to an event, the starting price and book price are essentially the same thing. However, as the bets get laid on the horses in the field, the book price will adapt to market value whereas the starting price will not.
It’s important to remember that quite often the initial book price will often be the best and it is said that if you can, get on a book price earlier before punters laying down bets start to effect and often reduce the book price.
Did you know…
When UFC fighter Conor McGregor and boxing great Floyd Mayweather announced they would meet in a boxing super fight in Las Vegas, naturally McGregor was a huge underdog.
To begin with, the book price was anywhere from 12 to 20/1 on a McGregor win. However, as most punters backed McGregor as it offered value, in the run up to the fight, the book price had shortened to roughly on average 5/1.
See also
Fixed Odds Betting
Hedging
Multiple Bet
