It is not about limits to certain places, it is also about limits to what one person can play until there is a bigger pot. So let me explain it this way, if there is a total pot of 200 dollars, they can't just allow someone to gamble 120 dollars into one side, that would make it just too heavy for one side and that is the problem, if they do allow that then where will they stop? So they allow max of let's just say 50 bucks? Could be any small number, and then next person gets to gamble 60, then the other 70 but if it keeps being on just one side then it will start to go lower again as well.
It doesn't work that way on most bookies. Bookies take the risk and adjust the odds on the market to hedge their exposure. In your example they would just lower the odds on favorite and incentivize players to take underdog bet.What you wrote is absolutely correct on bookies which work on pool system (no central authority to cover bets, player betting directly against other players), but I don't know any major bookie which operates in that way. I tried several and liquidity was always a major problem. This type of bookies will change the odds for your bet until the match starts. So you can place bet at @1.8 and end up getting paid out @1.3 or@2.5, no guarantees.
I'll take sites like Sportsbet over those bookies every day of the week. I need my odds to stay the same after placing the bet
