The world is full of gamblers. Most of them frequent the various casinos, where they offer a variety of games to play. All of the games have one thing in common. The odds are rigged in favor of the house.The house knows, as a mathematical certainty, that it will win a certain and predictable percentage of all money wagered. While the percentage may vary from game to game, the percentage for each game is always known beforehand.
The reason for this is that the house controls the odds. If they wish to shift the odds of blackjack, they can add or remove a deck of cards or change a rule and know the exact outcome of the change before the first hand is ever played. If they want to, they can adjust every game in the house to increase or decrease their profits if they so choose. The player has absolutely no control over the long term outcome, and the casino has 100 percent control.
When it comes to sports betting, that is no longer true. There is no mathematical formula they can apply to know beforehand what their profits will be. Instead, they try to achieve a balance of the betting to where whichever side wins, those betting on loser have wagered enough to pay the winners.
They do this one of two ways. For point spreads, they charge all bettors a premium just for taking the bet. A point spread win on a $100 bet returns only $91 to the "winner". If the book achieves balanced betting, and it usually does, it will pocket 10% of all bets placed, while the losers pay off the winners.
For money line bets, they adjust the lines to where if balanced betting is achieved, the loser will pay the winners and they pocket the difference. That's why the lines never match. For example, if a dog pays +150, the break even point on that bet is a 40% win rate. If the lines balanced out to zero, the favorite would pay -150, which indicates a 60% break even point on the bet.
Instead, what you will see in practice is lines that show approximately 105 to 110 percent probabilities. The difference between the actual lines break even total and 100% is what the books profit on balanced betting. Usually it is a little less than a point spread bet, but it is the same principle being applied. Losers pay winners with the books pocketing the difference.
That is the extent of what the books can control. Many times, the books will put out opening lines and then quickly adjust them. The adjustments are needed to balance the betting. The odds of the outcome predicted by the books does not change, but their business model requires that they balance the betting even if they have to pay more than the predicted probabilities of the outcome indicate they should.
When the book has to pay more than the original predictions of the probabilities to entice bettors to bet on a dog, the value of the dog increases. It becomes profitable to take a bet when the probabilities of the outcome are predicted at 55-45, yet the line is profitable 60-40.
The books also take into account the expected balance of betting base on their experience with the bettor. Some teams are just not that popular with the betting public, while others are very popular. For the more unpopular teams, and advantage is built into the opening lines.
Understanding how the books make their money, and where they give it away, is essential in understanding how to win money from them. It is what opens up the possibility of winning money sports betting, where other games are a no win proposition for the long term bettor.
In sports betting, you control the rules and the odds you play for. If done properly, you will always bet with a monetary advantage on teams the books are having to pay a premium on just to get the betting balanced. If you make rules that prevent doing otherwise, you will most likely win some money in your long term betting. To know more about Sportsbook Affiliate Programs please visit here :- http://affiliates.playdoit.com
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