a kick in the balls, on 18 June 2017 - 09:11 AM, said:
Surely the starting point for the odds is based on the club, the squad, the signings etc
Correct.
The traders will look at current squad, signings, last seasons performance and educated guesses when compiling odds. Anyone on here could price up next seasons PL and not be far off what the bookies have.
Generally traders from different bookies will check with each other before releasing prices. You can move the market with decent sized bets on outsiders but generally as the market is so massive there won't be much movement from 1 or 2 bets. Horse racing is much different, a handful of bets on a 50/1 shot at Wolverhampton on a Wednesday night will get the prices shortened as generally the knowledge / info available to traders isn't as clear or accurate so better safe than sorry. You'll see more fluctuation on oddschecker in horse racing than you will in the PL for that reason..