How do you calculate a writer’s odds?

At the very start, when we put our list together, we have people for the shortlist and we have an in-house expert who uses lots of things on the internet — forums and social media — and who is quite a big literature fanatic himself, and he puts the list together. Then he puts the odds together based firstly on who he thinks has a chance and secondly on who represents the current thinking of the panel and wider world. And obviously, as soon as people start betting, that’s also when things will change.

Excerpt from an interview with a staff member at Ladbrokes, the London-based company responsible for pitting Haruki Murakami as this year’s leading Nobel Prize in Literature contender with odds of seven-to-one.

Source: wp.me

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