The secret of bookmakers and their odds explained

Even though sport bets can bring us significant winnings, there are moments when those that bet lose more than they have won. Not only that their work is inefficient, but it is obvious that many bettors do not know how a bookmaker works and what advantages it has to offer.

Many of us think over the idea of a bookmaker being a profitable business or not, but only a few can offer us strict confidential data. But considering the number of bookmakers that open nowadays in all neighborhoods of a city, it is obvious that this a pretty advantageous business.

Regarding sport bets, it is obvious that everything revolves around the odds, that sometimes manage to attract us with their value, but we can easily be trapped, betting on a tip that was wrong to begin with. Sport bets are working just like the stock exchange. Practically, the bookmakers offer us these odds of which we remain amazed and that we, putting it lightly, buy them.

A bookmaker has the right to calculate the odds it displays and it also has the possibility to modify them anytime according to the expectations of the bettor and the latest news within the match.

Just think of a simple example that happens quite often in sport betting. Picture a football match between Manchester United and Chelsea. At a bookmaker, both teams have even odds, mainly 1.85. So, if you bet 20 Euro on the victory of Manchester United you will receive in case of a good bet, the sum of 37 Euro. Now let us think a little different. Let us suppose that you bet on Manchester United, while someone else bets 20 Euro on Chelsea. In this situation, the bookmaker cashed in 40 Euro and regardless who wins the match, the winnings which they have to return will not be over 37 Euro. It is extremely easy and it is pure mathematics. We can clearly see that a bookmaker wins from these bets almost 5-15% of the cash ins.

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