The main reason for the existence of bookmaker organisations is that people make money here. A person who wants to receive any income from his bets should have a good understanding of what he is doing and plan his strategy carefully. Despite this, most people lose money in the long run. There are also several tricks that bookmakers use to remain profitable in the long term.
Successful bets result from a strategy that allows to overcome professional bookmakers. You should do your best to understand the way these professionals make money.
This article covers one of the methods that provides a good winning strategy.
In general, bookmakers make money due to the following tricks:
- they set the right prices;
- they set and change lines;
- they always maintain a balance to minimize risks;
- they make use of the emotional condition of their clients as well as lack of special expertise.
The basic principles of bookmakers’ activity are simple and fairly obvious. Bookmakers take money from people making bets and use the funds until the moment they have to pay their clients. The main idea is to earn more than spend and the very art of bookmaking is all about ensuring such situations to arise as often as possible. Of course, bookmakers cannot control sports events. Instead, they can control the time they stay with specific teams to create a situation with a potential to earn money.
Bookmakers use a technique that allows to create chances in their favor to earn a larger margin, i.e. the commission received from making bets.
To understand the way bookmakers do this, let’s review an example of predicting the advent of heads or tails. Obviously, the probability is 50%, so if the bookmaker offered real bets, i.e. those corresponding to real probability, he would not have earned anything. Therefore, bookmakers overestimate the probability of one of the options in 2 times, therefore, they get +100% in case of winning situation. But if the real probability is 50% and the bookmakers bet 100%, they still will not earn anything, because they have to return all the money earned. So, the bets are formed not only depending on the bookmakers’ desire to earn but also based on real chances. When it comes to sports games, it is necessary to develop a strategy that will provide at least 5% profitability, which is considered normal for bookmakers. In order to understand the real chances, one needs to know more than other people. For example, follow the history of sports.
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