This is correct in the special case where all the information that your experts are basing their conclusions off of is independent. Slightly modifying your example, if the prior is 1:2 and you have n experts giving odds of 1:1, they each have a likelihood ratio of 2:1, so you get 1:2 * (2:1)^n = 2^(n-1):1. However, if they've all updated based on looking at the results from the same experiment, you're double-counting the evidence; intuitively, you actually want to assign an odds ratio of 1:1.
The right thing to do here is to calculate for each subset of the experts what information they share, but you probably don't have that information and so you'd have to estimate it, which I'd have to think a lot about in order to do well. Hopefully, the assumption of independence is approximately true in your data and you can just go with the naive method.
Suppose you have a property Q which certain objects may or may not have. You've seen many of these objects; you know the prior probability P(Q) that an object has this property.
You have 2 independent measurements of object O, which each assign a probability that Q(O) (O has property Q). Call these two independent probabilities A and B.
What is P(Q(O) | A, B, P(Q))?
To put it another way, expert A has opinion O(A) = A, which asserts P(Q(O)) = A = .7, and expert B says P(Q(O)) = B = .8, and the prior P(Q) = .4, so what is P(Q(O))? The correlation between the opinions of the experts is unknown, but probably small. (They aren't human experts.) I face this problem all the time at work.
You can see that the problem isn't solvable without the prior P(Q), because if the prior P(Q) = .9, then two experts assigning P(Q(O)) < .9 should result in a probability lower than the lowest opinion of those experts. But if P(Q) = .1, then the same estimates by the two experts should result in a probability higher than either of their estimates. But is it solvable or at least well-defined even with the prior?
The experts both know the prior, so if you just had expert A saying P(Q(O)) = .7, the answer must be .7 . Expert B's opinion B must revise the probability upwards if B > P(Q), and downwards if B < P(Q).
When expert A says O(A) = A, she probably means, "If I consider all the n objects I've seen that looked like this one, nA of them had property Q."
One approach is to add up the bits of information each expert gives, with positive bits for indications that Q(O) and negative bits that not(Q(O)).