Therefore, it is better to 'play safe' and follow the neighbour than risking a loss on a song. If a neighbour suddenly lowers odds on a particular song, it can either mean that the neighbour's customers have bet more on this song, or maybe the neighbour has some insider information that you don't have. Both to be competitive, but also to read trends.
The bookmakers look a lot at the other competing bookmakers' odds. Therefore, the bookmakers will automatically lower this song's odds so that the bookmakers do not lose money. If a lot of customers bet on a specific song, it is a hint that customers consider it a good bet – or in other words: the odds of the song are too high, compared to the customer's expectation of payback. This even happens completely automatically. They constantly analyze which participants their customers place their bets on.
And they try everything they can for not risking losing money on improperly priced odds. Money is the most important factor for a bookmaker. Wisdom of the crowds will drive the odds to the true price
