Quote: PopTart "I've worked in betting industry too.
The starting odds are not worked out by the traders. They are sorted by central companies that distribute to most big gaming companies like Bet Fred or Bet365.
The traders then adjust those odds depending on how much has been bet on that team.
Also Rugby isn't a bit money earner for them so focus on it less.
If you want to see the odds change, put a £1000 on Wakefield. They'll change the odds to cover the potential loss but not by much as it's a real outside bet.
So the odds are worked out by 3 things
Likelihood of the win
Likelihood of someone betting on it
......and then changes in circumstances like a key player being injured.'"
You are right that any large bet (or a run of smaller stake bets) would change the price as the liquidity in these markets is small . However , in the case of RL , bookies won't buy into a central feed as the interest is too low to make it financially viable . They do this type of business on the higher profile sports , football being the prime example . In the case of RL they will use in house compilers as mentioned above . Some of the smaller bookies may use a public site , such as an odds comparison site , to set their lines for the week , and then change , as you mention , with weight of money/team news.