If you were a bookie and thought that Fred elliot had no chance of being bfc boss you might for a laugh (to entice silly punters) offer what... 1000/1. But as time went on and said punters started chucking 10 and 20 quid at it. You'd think oh **** and reduce the odds "in case" That's all that's happening
"Bookies" is short for Bookmakers, thats what they do, they make a book on bets taken, they make the odds to reflect bets taken, in horse racing the opening odds normally follow form, then when betting starts the odds will alter with bets taken. In this case nobody has a clue whats happening except the club so the odds reflect money laid, in other words they make a book in order to minimise loss and enhance their winnings.
They slash the odds of someone to make people think someone knows something and back him, then they do the same again a few days later with someone else that's not going to get the job pillocking mug putters out of a few quid
In a market like bfc next manager they may occasionally dangle a carrot (amend price without money being placed) to get people betting too. They do have no idea who it'll be though.
