Do they take a cut of the bets and winnings, or do you really double your money on a winning bet? If you really do double your money, how does the casino make money? Do they just hope people make bad bets? They do their best to come up with spreads to make the same number of people bet both ways, so don't they end up not making any money?
2006-12-21 02:49:26 · 16 answers · asked by ? 4 in Games & Recreation ➔ Gambling
They definitely have the upper hand because if you win, you may decide to bet it all on the next week/game. They can afford to keep betting against you until you are either broke or go home. This is true in all forms of casino gambling however, not just sports gambling.
In sports betting, there are two formats, both designed to give the house the edge. One you already mentioned, the spread. Have you even noticed though that the spread changes over time? This is because the number of people voting one way or the other changes, and the bookies slide the spread one way or the other to encourage the bets one way or another. If you place a bet with a spread, your bet remains the same, but future bets will have a different spread. Let's say for example you bet $x that team a will win and they are favored to win by 2, which means the spread is -2 against you. If the majority of people start betting on the same team as you, the spread may increase and those new betters will see -3, -4 or more, making it harder for them to win of course. On the contrary, if many begin to vote on the underdog, you will see the spread decrease, or even switch over. The entire system is designed to ensure that more betters end up on the losing side than on the winning. If successful, any betters that win are actually just sharing the money with the house that was lost by the majority, the losing bets. Of course this doesn't always work, but so long as it usually works, the house makes a bundle.
The other system is odds betting, which is pretty self explanatory as to how the house ends up on top.
2006-12-21 03:11:10 · answer #1 · answered by john k 4 · 43⤊ 30⤋
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2016-06-07 18:58:40 · answer #2 · answered by ? 3 · 0⤊ 0⤋
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2016-12-23 01:04:38 · answer #3 · answered by Anonymous · 0⤊ 0⤋
For the best answers, search on this site https://shorturl.im/awpZ9
"I seek to make money betting on sports" god bless you stranger! if only it was that easy! you can argue whether systems exist - assuming there are some out there - most are not widely known to the masses! once everyone gets ahold of the information - the bookmakers adjust the lines - and often the high % they were winning at before becomes diminished! There is really no systems out there that is public knowledge that produces a high volume of plays in ANY sport One of the biggest examples of a system being available on the net for sale and did kind of work - was someone on Ebay a few years ago - sold systems beating both MLB and NBA in 3 game chase systems - it hit a very high % however you were always betting favorites and one 3 game loss would wipe out anywhere to 8 to 12 one game wins. if your just betting -110 and chasing to 3 games you need 8 times the amount for a 3 game series. In baseball you can have favs anywhere from -150 to -200 so chase amounts like that and it was highly risky if you lost 3 games in a row someone stole the system and is now marketing it bigtime to the masses as John Morrison He is a FRAUD! there is sports betting systems you can play individually but they NEVER win all the time - if your going the chase route - you win alot as you should win 1 in 3 games - but one losing streak can wipe out alot of work and small profits is it possible? YES but you need to have realistic goals - depending on your bankroll - its unrealistic to expect to double your bankroll in a season unless you are very lucky or not playing high stakes or both! The number of people who can make a living betting sports is probably under 1% of those who try you need a huge bankroll which can never be said enough - yet money alone does not mean you will make money gambling. You do need to do the work - have the discipline and even luck! its an art - not a science! someone once said about the game of poker - there is no silver bullet - no one thing you can teach or say to someone that can make you a good player - the same goes for sports betting! It takes alot of effort - and dedication - and skill - and even then you are going against the laws of statistics that suggest despite your BEST efforts you are favored to lose! Good Luck:)
2016-04-05 07:50:13 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Sports Betting Picks - Winning Picks
2016-04-25 01:20:43 · answer #5 · answered by Anonymous · 0⤊ 0⤋
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2016-04-29 21:12:31 · answer #6 · answered by ? 3 · 0⤊ 0⤋
How Do Bookies Make Money
2016-10-28 10:50:28 · answer #7 · answered by ? 4 · 0⤊ 0⤋
Sports betting systems are sets of events that when combined for a particular game for a particular sport represents a profitable betting scenario
2016-05-15 19:27:58 · answer #8 · answered by andrew 2 · 0⤊ 0⤋
Suppose you want to bet with your friend on a game between teams A and B. And suppose you pick team A and your friend picks team B, and each of you bet $10. If team A wins, then you will collect all the $20. But, if you place your bets through a bookie, then you, the winner, will collect only $19. The $1 is what the bookie makes and it is called the VIGORISH or the VIG.
Bookies adjust the point spreads continously so that they would have equal number of bettors on both sides. Thus they will always be making the VIG (usually 10%).
2006-12-21 05:11:01 · answer #9 · answered by Melkam Dirset 4 · 21⤊ 2⤋
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2016-07-07 11:43:11 · answer #10 · answered by Violet 3 · 0⤊ 0⤋
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2016-07-28 06:53:06 · answer #11 · answered by Tanika 3 · 0⤊ 0⤋