The better you are with numbers- the greater your chances of being successful in Sports betting. Not that some kind of higher mathematician degree will necessarily turn you into a phenomenal Sports bettor but there are some simple numbers involved in the betting game, which you should understand and apply to the best of your knowledge.
Let`s say we a playing a game of tossing a coin. Statistically over a great number of throws it should has landed on either of it`s sides approximately half of the time each. So we will have for example 50,000 heads and 50,000 tails.
Let`s assume that we decide to bet on the outcome each time. So have 2 people, one of them betting on “Heads” each time, and another one- on the “tails”. By now it should be clear that for every loss they will lose 1 pound/if we assume that this is their staking unit/, and for each win they are going to win again 1 pound. So after say 100,000 games each one of the players should has won or/and lost 50,000 times. So any of them, starting the game with a certain amount of money, should at the end have the same amount of money in his pocket.
Now this would be under ideal conditions- where there is no middle man between them, who will most probably charge them a commission or reward for his time and labor.
Now just imagine a situation where we do not have 2 people and 1 game to be played, but rather than this we have 300,000 people, wanting to bet on 150 different events, whatever they choose. Now we guess that you realize that this is impossible without a middle man, who will organize everything, will collect the bets and will distribute the winnings after the games. This is actually the role of the bookmaker-taking care of all the staff, mentioned above. As you can obviously presume, that`s an enormous amount of hard work and he won`t be willing to do all this for free, but will require some cut for himself also.
In the previous example the payout was 1/1, i.e odds of evens, or you win exactly the same amount that you have staked. Now though with the presence of the middle man, or the bookmaker in our terms, the things will look a bit different.
The bookmaker also is due to have a profit to cover his expenses and to go home with some spending money as well. This is the reason that he will not offer you odds of 2.0/evens/ for an outcome which is likely to happen 50% of the time. He will in fact offer you something lower than 2.0 to make some profit as well. In this situation most of the bookmakers will offer you something like 1.91 as current odds. So for any wagered pound, if you win, you stand to win 91 pence, instead of a pound. These 9 pence are what is called bookies “juice”,or his profit for selling you something under the conditions of the book, being over 100%.
We can only have a book of 100% in the perfect case scenario, when there is no middle man. Once he gets involved the “book” goes above 100% to constitute the bookmakers profit. The closer to 100% book you get with your betting, the bigger value you obtain for your bets, so it is a very good idea to shop around for the best possible odds you can obtain from the bookmakers. Shopping around for the best available odds is something that from a long term prospective is going to make a huge difference in your profits. In this row of thoughts it is always better to have accounts opened with as many bookmakers as you can, so once you find the best odds on offer of the game you want to bet on, you will be able to quickly deposit and wager.
And at last one little word of caution, regarding your shopping for the best odds. Be careful not to be lured and trapped with a bookmaker only for his high odds on offer. There are some online bookmakers that offer ridiculously high odds on a constant basis. The problem with them is that you run the risk of facing another big problems, such as: delayed payments, great hardship to withdraw money, not to mention that there are some pure scams, which are very likely to disappear with your funds.
Now on this web-site we can assure you that we have made every possible effort to represent only trustworthy, reliable and honest bookmakers-all of them places where you can know your funds are in good hands.
You see the choice of a bookmaker is actually something really multidimensional and there are really a lot of factors you need to put into consideration. This is why we have dedicated a whole specific article on the matter. This was just something for good measure, so please read on to the article called: ”How to choose a good bookmaker?” for a much more detailed explanation on all these matters.