Does anyone know how bookmakers make their money? One good thing about sports betting is that you can make profits consistently by understanding the system and applying the right strategies. But, winning in sports betting needs more than understanding how it works. No matter how good you are, you’ll lose money. There are a lot of reasons why this happens, and one of them is bookmakers using some hidden techniques to give themselves an advantage in every prediction. Being successful in sports betting? Cashing out every other week? Is dependent on your understanding and then destabilising this advantage, and how bookmakers make their money. Read also: Can You Make Money Backing The Favorites Article Content: Who is a bookmaker? Types of bookmakers Bookmakers and how they set odds How do bookmakers make their money? The basic principle of bookmaking  Charging the vigorish / overround: How it works Odd compilers and what they do Bookmakers margins: how they work  how bookmakers create a balanced book Key Takeaways: How to make money from bookmakers  Who Is A Bookmaker? A bookmaker or bookie is a sports personnel who oversees gambling, especially on sports events. A bookie sets the odds you find on a Prediction Site, accepts and places your bets, and pays winnings on behalf of oddsmakers. Types Of Bookmakers There are three types of bookmakers to select from when betting online. 1. Fixed Odds Fixed odds bookmakers issue odds in fractions to create betting markets. Odds are offered in three outcomes of a match – Home, Win, Draw, and Away Win. The odds have an inbuilt profit margin or house edge. Bookies take bets on every option that reflects a probability and creates a profit. 2. Spread  Here, bettors wager on the outcome to be lower or higher than the spread. Spreads are represented in two numbers, traders buy at a high number and sell at a lower number. Spread-betting bookmakers earn money from the difference in stakes and payouts. Markets change depending on buy and sell stakes. 3. Exchange  Betting exchanges are represented in decimal odds and support peer-to-peer betting. It puts together bettors who want to back an outcome and layers who bet against it. Exchange bets are matched at equally beneficial prices, partially or not matched at all. These bookmakers issue a back and lay price for outcomes in sports. Back prices are lower than the lay price. An exchange bookmaker makes money from commissions on winning bets. This ensures that they make profits regardless of the outcome. Bookmakers and How They Set Odds One way bookmakers win is by calculating the odds of them winning an event. They do this using statisticians and developing complex models. “Moneylines” and “spreads” are important factors for them. Other times, their calculations are based on the ones developed by casino actuaries or risk calculators. Basically, they underscore which teams the bookmaker believes will win a match. Lines and spreads can be adjusted in the time leading up to an event based on the bets made in their books or fluctuations in casino bets. Bad weather, injuries to players, and doping scandals influence odds too. A bookie aims to maintain balance in the books by adjusting the odds as much as they can so that an even number of bettors back a win or loss. If the books are balanced, the bookmaker earns only the vig. But, if a bet is one-sided on a team or outcome, they have a higher chance of losing money. How Do Bookmakers Make Their Money? Bookmakers make their money by charging a fee (“vigorish” or “vig”) on every bet they take, and pay out earnings when customers win a bet. Their goal is to earn more cash than they pay bettors. They do so by adjusting the odds to even the amount of people betting on a win or loss. A vig is up to 10%, although high-profile bets like a tight line on the Super Bowl can be higher than this.  Here is an outline of other ways bookmakers make money: Bookies set the right bet prices. They set and change betting lines. Balancing the book and curbing risks. Counting on bettors’ emotions and lack of knowledge. See: Betting Basics: Optimizing Your Betting Selections Basic Principle Of Bookmaking  The basic principle of bookmaking is, a bookie accepts money when they lay a bet for a customer, and pays out money any time the customer wins a wager. Professional bookmaking ensures that they take in more money than they pay out. Bookmakers can’t control an event’s outcome out, but they can control how much they’ll lose or win in any results. Bookies set the odds for all the bets they lay, which always guarantees them a profit. Charging The Vigorish / Overround: How It Works Vigorish (juice, margin, or overround) is the main method bookies use to set odds in their favour. They build it into odds to help them make a profit. But, how does a vig work? We’ve explained everything using this coin toss example: A coin toss has two outcomes – “Heads or Tails” and both are equally likely. There is a 50% chance of heads and a 50% chance of tails. If a bookmaker offered true odds on the toss of a coin, they would offer more money than they already do. This would be: 2.00 in decimal odds +100 in moneyline odds  1/1 in fractional odds. A $10 bet at even money returns $20, which is $10 profit plus the initial stake back. If the bookmaker had 100 customers betting $10 on the toss of a coin, half bets on tails and the other half on heads, they won’t make any money in this scenario. In the image above, if the bookmakers are accepting a total of $1,000 in bets, they must also pay out a total of $1,000 in winnings no matter the result. But, since they are in business to make money, this scenario does not favour them. That

What is the difference between betting for fun and betting for profit? Many people all over the world, view sports betting as a favourite pastime, and as such, they tend to favour some games like football or horse racing over others. And since betting is a source of entertainment for sports enthusiasts, they engage in it regularly and at some point, they start developing a reason for why they keep gambling. You see, betting for football, horse racing, or any other sport gives bettors two benefits which they can decide how they want to enjoy. It can either offer you fun or profit. Whatever your reason is, betting is a serious game that still requires focus. But, back to our question, what are some key differences between betting for fun and betting for profit? We have given the answer in this article, as well as discussed how to navigate both choices. See: Football Betting: Important Facts And Questions That Must Be Answered Article Guide: Betting for fun Betting for profit Betting for fun vs betting for profit  Importance of betting for fun Importance of betting for profit  Tips and strategies for Betting for fun Tips and strategies in Betting for profit Advantages and disadvantages of betting for fun Advantages and disadvantages of betting for profits  How to bet for fun and profit  Betting For Fun Betting for fun is wagering money on a particular sporting event merely for entertainment. You don’t care whether you lose money or not, as long as you’re entertained by a match, you’re good. Watching sports without betting on them is exciting. But watching football or basketball when there’s no obsession for payouts involved, intensifies the fun you’ll have because you’re doing it with a clear mind. Here, you’re less likely to be affected by the outcome, compared to when you’re betting for profit. Betting For Profit Betting for profit is the riskier side of sports gambling, especially because anything can happen. You must fortify yourself with an edge over other bettors.  If you consistently bet for profit, you will never really enjoy a match, and neither will you feel the same excitement the other type of bettor does. This is because you’re fixated on making money, more than you are feeding your passion for sports. Making profits from a bet takes a lot of research and preparation, which sucks out all the fun for you. You’ll only ever be happy when you win a wager. Losing a bet also breeds negative emotions like stress, depression, and addiction if it’s not managed well. This is when you start chasing losses or accumulators’ bets because you want to compensate for the money you lost to feel good.  However, you can still make betting for profit enjoyable, by mastering self-control, applying the right sports betting strategies, and not overplaying your hand. Betting For Fun Vs Betting For Profit Some bettors gamble for the fun of it, while others gamble for a chance to win money. In the table below, we have examined some differences between betting for fun and betting for profit, to give you an idea of what both gambling choices entail. Fun  Profit Don’t care if you win or lose money. Gamble for a chance to win money. Enjoy the thrill of gambling. Risks losing money. Bet for the experience alone. Should have a bankroll. See gambling as a medium of entertainment. Avoid emotional attachment to bets. Uses betting to socialize with friends. Understands odds and how to use them. Bet to pass time the time. Learns to pick winners more than losers to increase profits. Important Points For Betting For Fun If you bet on sports to simply relax and be entertained, it is important that you know the practices that’ll make this experience worth it, since you’ll be predicting outcomes. Focus on a sport that intrigues you the most. That is how you have fun. Budget only an amount you can lose. And after you’ve lost, stop betting. Gambling stops being fun for you when you lose more money than you can afford. Don’t place huge stakes on single wagers. They should get a very small fraction of your entire daily budget. Reduce the number of bets you throw to win. Only back meaningful wagers, don’t jump on everything in the market. Getting involved in different types of wagers doubles the excitement, has more meaning, and places you closer to a win. In-game betting is more exciting, and so do it. Don’t obsess over the results. Understand the basic strategies of betting, they guarantee more fun when you use them and they work for you. Importance Tips For Betting For Profit So, you’re betting for profits? The tips you need to succeed in this area, are more straightforward and to the point. Be smart and know how to properly analyse the different factors that influence certain results. Know that hard work is essential if you want to win consistently. Exercise patience. This helps you to not be discouraged when your expectations aren’t met. Have a good knowledge of basic mathematics if you want to keep money from sportsbooks. Master control of your emotions so that your feelings are in check and you bet with a clear eye. Gather information on how to succeed by getting details on wagers, options, markets, and sporting events. Luck is good, but having a strategy is more important. This will help you assess what brings you successful wagers and why you fail. Tips And Strategies In Betting For Fun There are different ways you can be for fun. Do you want to just enjoy the game or get involved and place bets?  No matter what you want, these strategies can help you: First, find a good bookmaker where you’ll be placing your bets. You get extra points if you use a Prediction Site that gives you good lines and odds. After you’ve found a good bookie, the next thing you need to do is to open an account

How good is your knowledge of football betting facts and questions? When it comes to football betting, anyone who considers themselves a sports betting enthusiast must equip themselves with information surrounding certain facts and questions in this industry.  We say this because knowing these things don’t just help you make smoother bets, but it also gives you a better understanding of betting for football. On that note, we have written down answers to some frequently asked football questions you might have. These answers cover enquiries regarding betting odds, using football betting sites, types of bets, etc.   By the time you are done reading this article, we hope you’d have improved your football betting knowledge. Now, without further ado, let’s see what these facts and questions are.  Related: Betting Basics: Optimizing Your Betting Selections Important Football Betting Facts And Questions That Must Be Answered What should I know before betting on football? What is the most profitable football betting strategy? What is the secret behind football betting? What are some sure tips for football betting? What are the odds? Do football odds vary by bookmakers What are the different types of football odds? What does vigorish mean? Who sets the odds and lines in football? Why do odds and lines change? Why do different football betting sites have different odds and lines? Do own goals count for both teams to score? How does the first goal scorer work in football? What does draw no bet mean? What is double-chance betting in football? If two or more players tie for the golden booth, who wins it? How many red cards are issued before a football match is abandoned? How do booking points work in football betting? What is regular time in football betting? Should you bet on the draw in football? What is an assist in football? How does corner betting work in football? What do match odds mean in football betting? How do bet builders work? What is score cast betting in football? See also: Top Football Betting Myths Dispelled! 25 Football Betting Important Facts And Questions That Must Be Answered Football bettors have a lot of questions about betting for football, and it’s only right that we answer them with the appropriate answers. These are some football betting facts for you: 1. What should I know before betting on football? Before you start betting on football, there are a few things you need to do to make your betting experience more enjoyable. We listed some of the below: Find the best available odds in the market. Utilise matched and arbitrage betting. follow football tipsters and their predictions (to an extent) Keep a record of your bettings. Be content with the little wins and profits. 2. What is the most profitable football betting strategy? There are numerous football betting strategies, which you can follow to consistently cash out in this industry. However, some strategies are more profitable than others: Early cashouts. Bet over 1.5 goals live. Find a league to specialise in. Bet on the draw, late goals, cup games, and live games too. 3. What is the secret behind football betting? The secret behind football betting is wagering when you have higher than a 50-50 chance of winning a bet.   Or if the chances are less than 50%, you can win and then the bookmaker will make the amount they’ll pay as good or better than the risk you took. 4. What are some sure tips for football betting? There are some core football betting tips every serious bettor should always keep in mind if they want to succeed in this industry: Maintain discipline. The golden rule of betting is that you only wager an amount you can afford to lose. Utilise bonus offers. Shop around to find the best odds, don’t just accept the first one that comes your way. Do thorough research on odds, bookmakers, and football events. Always keep a record of your betting. It helps you track your wins and losses accurately. 5. What are the odds? Odds show the expected profit on each bet you place. For example, a 10 euros bet at odds of 2.2 will get you a profit of 12 euros on a winning bet (10 X 2.2 – 10). They also indicate the probability of a specific event happening. The lower the odds, the greater the probability of the event occurring ( odds = 1/ probability).  Odds of 4 show that the event has a 1 in 4 (¼ = 25%) chance of happening, while odds of 1.2 correspond to a probability of 83% (1/1.2). 6. Do football odds vary by bookmakers? Yes. the odds offered by bookies for a match might change due to unforeseen circumstances. But, once you’ve placed your bets, they cannot be changed, no matter what happens after that. 7. What are the different types of football odds? Football odds can be represented in many different ways. Decimal or European odds are offered mostly in Europe, and they differ from American odds or British odds (fractional odds). 8. What does vigorish mean? Vigorish (vig, juice, or overround) is the amount or commission a bookmaker charges bettors for each bet they place for a sporting event.  This vig is part of your bet so you don’t have to pay an additional fee. It’s how bookies make their own profit from sports betting. 9. Who sets the odds and lines in football? Odds and lines in football are set by oddsmakers or odds compilers in the employ of bookmakers. These professionals have extensive knowledge of football and their job is to ensure that the opening odds and lines are accurate. Oddsmakers are the ones who also adjust the odds and lines based on a number of factors. 10. Why do different football betting sites have different odds and lines? Odds and lines reflect the opinions of the odds compilers on what’s likely to occur in a sporting event. When the odds and lines vary in football betting sites, that

How good are you at optimizing your betting selections? Sports betting works in the direction you lead it, and it can be as easy or complex as you want it to be, based on how you decide to select or optimize your bets. In this article, we’ll break down the workings of optimizing your betting selections. The good thing is you don’t need to be an expert bettor or have much knowledge on how to optimize your sports picks and bets. This makes it very easy for you to get entertained, while still making money from sports betting, without needing to do a lot of learning. But, the downside to this is that making good selections consistently or making lots of money solely from sports betting is not simple. This means you must put in the effort and learn so many things to be a professional bettor that actually succeeds. We have listed out some strategies that can help you optimize your selections better. 8 Strategies For Optimizing Your Betting Selections Making good betting selections is the third and final requirement in becoming a successful bettor, but it is the most difficult and it isn’t something a single article will teach you.  But, in the absence of an exact blueprint to follow, our guide can provide some clarity on the things you don’t understand. We’ve made it comprehensive so that you get all the information and tips you need to build your own working approach. Keep in mind that this article won’t magically transform you into a successful gambler, but it’ll get you one step closer to it. It features several useful hacks for optimizing your betting selection process. So, let’s see what we have for you: 1. Expert Selectiveness In professional betting, you must be selective with the wagers you back. And there are certain areas you should apply this selectivity to if you want to succeed: The amount you bet in a given period. The number of sports and sporting events to wager on. Value of the odds and lines offered to you. Types of bets you place – point spread, money lines, or game totals. 2. Apply Rational Thinking As a rule of thumb, the decisions you make in sports betting should be based on rational thinking. “Hunches” or unproved “theories” won’t do you much good in the long run.  This is why it’s important that you ignore your instincts and focus on making selections born for rational and objective reasons. Reviewing your thought process before every selection is a great place to start. Step back and try to understand your reason for any bias, preconceptions, or assumptions. 3. Don’t Choose Picks Emotionally Love and support your favourite team, but don’t pick them because you’re hoping they win a match.  Matter of fact, do not bet on the team or player you like because those emotions can affect your judgment. But if you must pick a team you favour, be objective about your reason for doing so. Similarly, don’t be complacent when you’re on a winning streak or let a series of losses lead you to make bad betting decisions. 4. Work Hard Working hard is one of the simplest ways to improve your betting results, and this can be done by putting in more time and effort to research. Research gives you information about important things in sports betting like teams and players, helping you assess the outcome of events better. By committing your hours to put in the work, you can also interpret and analyse this information to your advantage. However, as you do your research take these factors that affect the likelihood of events occurring into consideration: Team/player quality. Key strengths and weaknesses. The current form of players/team. Recent injuries/fitness levels. Motivation. Consistency in performance and results. Venue. Schedules. 5. Look For Value Bets Finding value bets means assessing sports betting lines and then backing the odds which offer the most value with lesser risks and more opportunities for profits. Outrightly betting $1000 on a heavy favourite for an earning of $100 is not a smart move, and so is backing a team whose odds are undermined. Before you bet, research, calculate, and watch out for lines that offer you the most value. Note, value can be found by shopping for a good Prediction Site, rather than just good odds. 6. Bet Less Most bettors believe that wagering on as many sports as they can improve their chances of winning big money. This is a wrong notion. You must not place too many wagers weekly to earn money. The fewer bets you place, the more time you can spend on each of them. Spending quality time on your betting selections is a good way to improve them. So, instead of betting on every market you see on the bookmaker’s website, be more selective. Also, consider these points: How many sports to wager on. How many different leagues or competitions to bet on. The number of games/ events to wager on. How many bets to place on a game/event. 7. Weigh Risks And Rewards As it is with all good businesses, having a stable cost-benefit analysis is important if you want to make accurate betting selections. Follow this simple rule, avoid selections where the risks outweigh the rewards and vice versa. 8. Observe Selection Essentials In addition to every strategy that has been laid down in this article, make sure that you observe other important selection process essentials such as: Statistical and performance analysis. Betting trends. Good bankroll management. Tips That Help When Optimizing Your Betting Selections If you are a bettor who has a hard time conducting thorough research on sports events before making your betting selections you can get help with this.  There are certain tips that could help you with conducting research and ultimately making good selections. Here are some of those tips you could use for easier research: Check the implication of the event. Validate statistics. Steer clear of opinion