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The price of an event is another way of referring to the odds of something happening. As not every bookmaker offers the same odds, bettors will compare what they are showing and make their selections accordingly. This is known as price comparison.
Finding the best value is most important in sports betting. Although many online bettors will stick with the same bookmaker for ease, experienced customers will shop around for the best value odds.
There are now many price comparison websites devoted entirely to presenting the latest and best odds of each bookmaker so bettors can see where they would get the most money for a winning pick.
The odds can vary from bookie to bookie for a variety of reasons and the online sites will introduce special promotions such as price boosts to attract more customers – and to keep their existing customers happy. The experienced bettor will know that their will be what might seem like small differences to the outsider could make all the difference when it comes to the winning returns.
If a bettor makes relatively small stakes then price comparison may not make such a difference to the outcome. But with bigger stakes it can mean so much more. For example, two bookies might offer 13/4 and 3/1 on West Ham winning a match. That doesn’t seem like much of a gap – but if the stake is £1000 the difference in the returns would be £250.