Biotic
Hall of Fame
I'm not a sports betting person, but I thought odds were set not solely by who the bookies themselves think will win, but rather to even the overall monetary risk who they think the betting public will place wagers on. So while Djokovic is surely the favorite, players like Nadal (my favorite) and Federer are placed so high because these classic players are who many ordinary people will place a bet on simply because they are known and will cheer for them.
That wouldn't be rational decision making. You're suggesting that bookies take into account non-rational behaving individuals. How could they incorporate such a factor? Ordinary people don't bet every time they favorite plays. It must be very volatile.