How Bookmakers Make Money The Ugly Truth About Sports Betting

Mar 25, 2022 Others

For the reason that the bookmaker is one that takes the pixbet, sets the odds, and takes the money from losing bets; the thought of the bookmaker being the enemy is straightforward to understand. This is the reason many individuals working with bookmakers adopt an adversarial perspective, “beating the bookmaker” and so on. However, this can be a completely mistaken impression in relation to a misconception of how bookmakers work and what their goals are.

When someone makes a bet with a bookmaker, the target is to win the bet and make some money. However, the target of the bookmaker is never to win any particular bet, but to help keep his books balanced ensuring that each bet is offset having an opposing bet of equal value. The bookmaker makes his money through fees and commissions, not through winning or losing bets, which means bookmaker’s goal is altogether different than that of the person bettor.

A “perfect win” for a bookmaker is a predicament in which every bet made is offset by a bet of equal value going the other way. So ideally, for every single bet the bookmaker wins, he also wants to get rid of another bet of the exact same value. Since the bookmaker charges fees and commissions, so long as the books are balanced the bookmaker is assured of a tiny profit on every bet made. This means the bookmakers don’t have any vested curiosity about seeing any individual win or lose a certain bet; their interest is in making sure that all money paid out is evenly offset.

In order to make this happen, the bookmaker has to have a whole group of rather complex factors into account. His odds and point spreads have to be designed in this way he will attract bets both ways, he must be sure that his odds are reasonable enough to attract business, and he has to ensure that he is able to cover every one of the bets taken. A bookmaker that adopted a confrontational attitude toward his customers would quickly walk out business because no bettor within their right mind would conduct business with him.

Even though that the bookies take the bets, set the terms, and will collect the money from losing bets; they’re not the enemy. They’re playing an entirely different game than the person bettor is with totally different aims and definitions of success. How well a person bettor does is based on his skill and knowledge, not on the bookmaker’s efforts to take his money. A legitimate bookmaker is equally as happy to cover out fairly won winnings as he’s to take the amount of money from fairly lost bets. In his ideal scenario every bet won can be lost, so he doesn’t have prejudice regarding individual wins or losses. Viewing the bookmaker being an enemy is silly and shows a lack of understanding about how exactly the device works.

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