The Bookmakers or more commonly known, bookies, are the figureheads in the gambling industry.
Bookmakers take bets on various sport events such as Horse Racing and Football. They function very similar to a broker in the stock market as they will take money from people who want to purchase a bet. Bookmakers try to predict the outcome of events, for example in Football they will analyse the odds of a matchup and release those odds to the public.
As with any business they’re running to make a profit, so will take a portion of winnings from every bet known to bettors as margin, this is normally between 2% and 10% and will be reflected in the odds offered on their website & apps.
Do Bookmakers want me to lose?
Betting companies will hope that they get bets on all outcomes that they offer, that allows them to guarantee a win regardless of the outcome of the event.
In Football, if 100% of bettors placed stakes on Team A and no one placed bets on Team B and then Team B won, this wouldn’t be the desired outcome for anyone involved, including the Bookmakers, this would be called an imbalanced book which could result in losses. Bookmakers always aim to create a balanced book which allows them to make the same amount of money regardless of outcomes.
If particular odds receive many bets that a profit becomes a loss, the odds will be adjusted so that the bookmakers can guarantee a profit.
If Team A has odds to win of 10/1 which attracts a huge amount of bets being placed while Team B has 3/2 odds and no one is placing bets, there is a high chance that the bookmakers will adjust this by reducing Team A odds and increasing Team B’s odds.
This movement can give punters an idea of where the smart money is being wagered and they can follow
It should be clear now that bookmakers have an advantage over their customers. It is true that they don’t win money in every single market they are pricing but they are always focused on guaranteeing a profit to ensure they are making money in the long run just like any other business.
Their profit isn’t just because of their profit however, as odds are not always stacked against you. Their success is also factored by poor betting decisions, it is a well know statistic that 90% of sports gamblers will lose money over a year and that is a huge factor as that means there are fewer payouts.
To make the best decisions you’ll need to be a well-experienced bettor with strategy. But you can start betting with our community of helpful bettors and our professional daily tips