Keep schtum when you fancy a flutter
Posted: Friday 26 October, 2012
Most people know how great Twitter is for individuals who want to keep on top of up-to-the-minute news and for businesses to reach out and engage with target audiences, but did you know it’s a bookie’s best friend too?
People with large follower numbers can be hugely influential, which is why brands often enlist or try to persuade celebrities and thought-leaders to endorse products or services by tweeting about them. However, it seems that you too could be classed as an influencer, even if your follow count reaches no more than a handful.
When the nominations for The Man Booker Prize 2012 were being reviewed on The Culture Show a couple of weeks back, a representative from a UK bookmaker said they often take Twitter activity into account when deciding odds. For odds on this year’s Man Booker, Twitter was used to understand what the eminent voices in literature thought about the books on the shortlist and also as a tool to identify what the crowds thought.
Analysing the amount of positive chatter surrounding the runners, whether it’s for a literary prize or the Grand National, indicates the sway of the masses, which in turn signposts where the most bets could be placed. The bookmaker can then use the intelligence to help set the odds… in their own favour perhaps?
Whilst many other factors are considered, if you’re planning to place a few pounds on the Christmas number one or on the position of your team at the end of the football season, I’d suggest you keep predictions to yourself or it’s odds on to lose out!