Modern oddsmaking involves a huge share of computer-based work. The process became a much-complicated one involving both mathematicians and statisticians processing centuries of data and altering it with the ongoing trends.
As the industry attracts more and more people, the need for a more accurate product gets bigger than ever. More and more specialists are getting involved in creating those numbers. Well, do the modern oddsmakers still use the power ranking? Yes, however, it looks way more sophisticated than it used to. The data taking into the formula is enormous. The process of creating odds became for quantifiable and precise. Nevertheless, the industry still trying to sharp the process by diversifying. What it means, bookies hire more people from completely different fields in order to shape the best and most efficient odds.
Another modern trend in nowadays' oddsmaking is outsourcing. The process of creating the odds is quite complicated, time-consuming and requires sufficient funding. Most of the bookmakers either do not have it or do not want to spend much. The reason for that is increasing costs. By overspending or just spending the needed amount on oddsmaking operators would need to impose a higher margin, as it would require such a measure to stay profitable on the long-run. This will lead to low customer satisfaction and so on.
Because of this, many betting operators are getting the odds from other companies that specialise on oddsmaking. This not only saves time but also allows room for a better marketing campaign that bookies usually opt-in to.
Though, do not get it twisted. Every top online bookmaker most definitely has a person or even a whole department of them. Even if they outsource the data, someone still has to approve the final decision and/or make a call.
It is hard to see which bookmaker is copying the odds and which creates them in-house. The reason for that is that odds are considered a trade secret and are not up for disclosure. However, there is a way to see which company has put in more work by monitoring their offered lines and/or odds themselves. If you see that the sportsbook has a unique line or even the whole market, chances are that it was created by their own oddsmakers.