4. Understanding how sportsbook businesses work

07 Mar, 2018

Before choosing a betting company, look at what bookmakers do to win.

For better understanding, let's choose an event equal in probability, such as a draw. The usual betting odds for such an event are 1.9 out of 1.9.In other words, the player who bet 1 dollar, will win 90 cents. The company will take $2 and will pay the lucky winner the sum of $1.9, that is to say, that the winnings of the bookmaker will be 10 cents. In such conditions, to really increase his capital, the player must at least be winning with 1/ 1.9.

When the odds offered by the bookmaker are good for the player, let's say 1.92 or 1.95, then the profit of the bookmaker will become consequently lower.

But in general, many bookmakers use different manipulations in order to generate more profits from the players. In that case, by winning you do not beat the bookmaker, but other players who bet on an opposite result to yours. 

In order to be victorious, you should be able to better analyze a match than an average player.