HomeStrategiesSports Betting Strategies -- How Bookies Ensure Their Profits(2021)

Sports Betting Strategies — How Bookies Ensure Their Profits(2021)

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There are several questions about sports betting here:

  • Do you have questions about how bookies make their profits?
  • The bookies are just trying to make money out of you in any way possible?
  • Are you worried that you will lose money due to the tricks of the Bookies?

If you have ever encountered these problems, in this article we will solve these questions for you.

profit model of the bookies

In order to try not to leave money on the table, it is best to understand the profit model of the bookies.

In fact, what bookies do is try to get an equal amount of bets on each side of the race and then take a small percentage of that as profit.

Sports Betting
sports betting

Let’s use team A and team B as an example.

Suppose these two teams are exactly equal in strength. Would you expect the bookmaker to set the odds at -100 for both teams if they both had a 50/50 chance of winning?For every $100 wagered, the bettor would reap a $100 profit on a win.

“House Juice”

Then in fact, the bookies would set the odds like this.

Sports Betting

In this case, no matter which team you bet $100 on, you will only get a bonus of $87 when you win. The bookmaker will take 13% of the profit on each winning bet.

This is known as house juice.

What happens if the bookmaker doesn’t get the same amount of bets from both sides of the game?

Suppose in the event that team A gets a $1,000 bet and team B gets an $800 bet, then two outcomes may occur: team A wins or team B wins.

Sports Betting

The betting bookmaker is profitable only if teamB wins.In this case, the bookmaker cannot guarantee that it will make money. Profits are only sure to happen if both teams have the same amount of bets.

Suppose both teams receive $1,000 in bets.Then the situation would look like this:

Sports Betting

In other words, in this case, no matter which team gets the final victory, the betting company is always the final winner.This is how the bookies ensure that they are in a profitable position.

How to ensure equal bets on both sides in sports betting

But what if the bets on both teams are not equal? This is where the bookies adjust by way of shift the moneyline.As we saw in the example we just gave, if team A has more bets, then the bookie will make team A’s moneyline -120 and team B’s moneyline +110. This will make team B’s odds more attractive and get more people to bet on team B.

Summary

A bet will not necessarily make you a profit just because it is particularly easy. The betting company will guarantee its own profit by shift the moneyline. And all this has little to do with you as a bettor.

If you are interested in sports betting and would like to learn more about it, please click on the following links to view our previous shares:

1.Sports betting: some basics you need to know

2.Odds: What you need to know about professional betting

3.Explanation of the concepts of value and probability in sports betting

4.Important tips on Sports Betting

5.Mistakes to avoid in sports betting

6.Explanation of common sports betting types

6-1.Explanation of Moneyline/Win Bet

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