Assertion: bookmaker | /r/CapableOf | lose a lot of money.they
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text: the on course bookmakers at the relevant meeting.this is why there can be horses that go from 20/1 to 16/1 to 10/1 to 6/1 in a few minutes.also if there are horses which no one is backing then the bookies will increase the odds to entice the punters to back it knowing full well that these horses wont come anywhere.this is whats known as spreading your bets.one last thing.bookies will bet with other bookies to cover themselves if they have had large amounts bet on a particular horse.this is called laying a bet.basically,they are trying to cushion the blow if they lose a lot of money.they can then recoup the majority back from other bookies.the bad thing about this is that it is extremely unfair on the general public because the bookies will put vast sums on and that in turn reduces the odds for the rest of us.