How bookies come up with football betting odds

I always find it astonishing that most football bettors don’t even know how the bookies come up with their odds. So, here’s a quick explanation: Odds are basically a reflection of probabilities. Each bookie employs hundreds of statisticians to come up with these probabilities. So, imagine FC Barcelona playing away at PSG. For this match, statisticians have come up with the following outcome probabilities.

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