Inside The Mind Of A Bookmaker | Bitcointalksearch.org

raven7886

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Quote from: Mzie on November 17, 2016, 05:02:17 AM

Once you get to know how bookmakers make sure they always make profit, your gambling experience can be phenomenal. Some matches are over priced or over priced ( more odds offered for a winning team).

What things have you noticed with Bookmakers that they do not want punters to know?

One thing that I personally have noticed is that the bookmakers always want the gambler to make pre-match bets and that's when they offer much more Max betting amount rather than later in-play markets. Maybe its because live in-play matches are more easy to be fixed ( match fixing ) on the spot ?

shulio

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Quote from: shanem on December 24, 2016, 10:31:47 PM

Quote from: shulio on December 24, 2016, 09:41:46 PM

Quote from: Patatas on December 21, 2016, 11:07:55 PM

Quote from: Mzie on November 17, 2016, 05:02:17 AM

Once you get to know how bookmakers make sure they always make profit, your gambling experience can be phenomenal. Some matches are over priced or over priced ( more odds offered for a winning team).

Who said bookmakers always make profit ? I've won multiple bets multiple times with great odds,this is my win win situation and bookmaker's loss.Matter of fact,they accept bets for multiple games with a number of people. The winning-lose ratio determines whether they profit or not.

The win or lose ratio has nothing to do with their profit. It is the amount of profit that they won from players and the amount that players actually win from them. If there are tons of bet that won 0.01 btc each and they won from a single bettor who wagered 1 btc then obviously they are still getting some profit

Sometimes, bookmakers are biased towards certain teams. This can be a good or bad thing depending on what you are betting. Bookmakers don't really care if you win small amounts from them as they can cover your winnings from other people losses. I notice many times that the odds in basketball does not make sense and you can make huge profits if you can spot the underpriced moneyline.

Thats how they get profit, wether we like it or not thats not their concern as long as they could get profit from that tiny odds that they give to the favourites however some sides actually offer higher odds for favourites to encourage people to bet more on the site well it doesnt really matter if you are only wager a low amount

coinplus

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Quote from: shulio on December 17, 2016, 01:50:58 AM

Quote from: Japinat on December 17, 2016, 01:02:30 AM

I guess they don't know who will win, otherwise they just beat on the other sportsbook and stop operating,

No one really know the exact result of a game unless the game is done however in most sportsbook cases they will just confisictate your winning if they are not able to pay you. There has been alot of cases that happened with it which is why people dont really trust a new site and keep on sticking with their favourite site

That s completely a different story that some sites might scam and trusted ones will go longer.

I think sportsbook have no strategy at all, all they believe is just their edge and their system. Some sportsbook want to accept your bet on minimum odds like in directbet if you choose flexible bets then they try to confirm your bet on 1.01 odds lol

smho_16

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Bookmakers are people like us, they have no supernatural power whatsoever. If you want to beat them, you have to be smarter than them. You can work in groups of 2-3 persons or alone. Usually when betting on a single event if you study the event all day long, watch every thing regarding that event I am sure in bookmakers like the one in my signature which offers lot of betting options you can find one which I am sure you can win, lower odd but still a win.

poplolnman

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Quote from: Finestream on December 21, 2016, 01:09:34 AM

Quote from: milewilda on December 20, 2016, 09:24:56 AM

Quote from: patt0 on December 20, 2016, 08:56:50 AM

Quote from: ajaxmoor on December 19, 2016, 02:38:54 AM

I personally feel the bookmakers are at big risk too. Most of the people who make big bets, are either addicts or people who are like tippsters. With the tippsters they take a lot of risk, and addict gamblers are where they sort of make it up. A lot of casinos even like DB were hit by this guy who won big amounts, which I am sure would make any bookmaker worried.

So yes a lot of these bookmakers play around with things like odds or max bet amount which can give them the edge they need to stay in business.

I don't know if they have that much of a risk. Maybe they can't really control parlays. They might be hard to win, but they sure pay big amounts when people hit them. On single bets, I think they have all under control, or they should have if they do things properly. They control the odds and the max betting limit, so they should always have their profit even on all outcomes, no matter what happens I guess.

Same as other members here i quiet confused regarding on this matter on how bookmaker could able to generate profits regarding on this field. They cant really control parlays and i dont think that they have the full control on single bets.Some members said that they do experience risk specially when huge winnings do happen on a particular player.

There was a study already that tells, the more you have many legs in a parlay your possible winnings might increase but your chances will be lowered, so the line set was carefully studied, and if you are a sports bettors who love to make parlay bets, you can tell your percentage of winning and say to yourself that bookmakers are doing an awesome job in every line they set.

that's true bookmakers know what they are doing , they set a tricky odds to mislead everyone who look at the numbers. if you have gamble for long time enough you may feel on how there is something odd in every lines that bookmakers provided, if you careful enough you'll always find a crack and win every bets, at least have a good winning percentage.

shanem

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Quote from: shulio on December 24, 2016, 09:41:46 PM

Quote from: Patatas on December 21, 2016, 11:07:55 PM

Quote from: Mzie on November 17, 2016, 05:02:17 AM

Once you get to know how bookmakers make sure they always make profit, your gambling experience can be phenomenal. Some matches are over priced or over priced ( more odds offered for a winning team).

Who said bookmakers always make profit ? I've won multiple bets multiple times with great odds,this is my win win situation and bookmaker's loss.Matter of fact,they accept bets for multiple games with a number of people. The winning-lose ratio determines whether they profit or not.

The win or lose ratio has nothing to do with their profit. It is the amount of profit that they won from players and the amount that players actually win from them. If there are tons of bet that won 0.01 btc each and they won from a single bettor who wagered 1 btc then obviously they are still getting some profit

Sometimes, bookmakers are biased towards certain teams. This can be a good or bad thing depending on what you are betting. Bookmakers don't really care if you win small amounts from them as they can cover your winnings from other people losses. I notice many times that the odds in basketball does not make sense and you can make huge profits if you can spot the underpriced moneyline.

shulio

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Quote from: Patatas on December 21, 2016, 11:07:55 PM

Quote from: Mzie on November 17, 2016, 05:02:17 AM

Once you get to know how bookmakers make sure they always make profit, your gambling experience can be phenomenal. Some matches are over priced or over priced ( more odds offered for a winning team).

Who said bookmakers always make profit ? I've won multiple bets multiple times with great odds,this is my win win situation and bookmaker's loss.Matter of fact,they accept bets for multiple games with a number of people. The winning-lose ratio determines whether they profit or not.

The win or lose ratio has nothing to do with their profit. It is the amount of profit that they won from players and the amount that players actually win from them. If there are tons of bet that won 0.01 btc each and they won from a single bettor who wagered 1 btc then obviously they are still getting some profit

Patatas

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Quote from: Mzie on November 17, 2016, 05:02:17 AM

Once you get to know how bookmakers make sure they always make profit, your gambling experience can be phenomenal. Some matches are over priced or over priced ( more odds offered for a winning team).

Who said bookmakers always make profit ? I've won multiple bets multiple times with great odds,this is my win win situation and bookmaker's loss.Matter of fact,they accept bets for multiple games with a number of people.The winning-lose ratio determines whether they profit or not.

Quote from: Mzie on November 17, 2016, 05:02:17 AM

What things have you noticed with Bookmakers that they do not want punters to know?

They keep it as transparent as possible.Punters get confused when with the flexible odds.If a goal is scored and team is on the losing verge,the punters fall for the high odds resulting a loss in the game.

Botnake

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Quote from: ethereumhunter on December 21, 2016, 11:14:01 AM

Quote from: Mzie on November 17, 2016, 05:02:17 AM

Once you get to know how bookmakers make sure they always make profit, your gambling experience can be phenomenal. Some matches are over priced or over priced ( more odds offered for a winning team).

What things have you noticed with Bookmakers that they do not want punters to know?

i think they don't always win in the games and if they always win in the match, i think they have a special other thing that they don't share with us because its their business, if they share their secret then they can not make a profit in gambling. so i think as long as we can make profit too with their advice, its no problem for us and we can make a bet with safe and we can win the games.

It cannot be possible that they win all the time, bookmakers are smart but they are not God so they are not perfect. They are only good in reading what the mind of the majority would think and they take advantage on that using their expertise by putting a line that in favor of the gambling sites, but there are smart people which we called the sharks, they are good in guessing if lines are trap or not.

ethereumhunter

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Quote from: Mzie on November 17, 2016, 05:02:17 AM

Once you get to know how bookmakers make sure they always make profit, your gambling experience can be phenomenal. Some matches are over priced or over priced ( more odds offered for a winning team).

What things have you noticed with Bookmakers that they do not want punters to know?

i think they don't always win in the games and if they always win in the match, i think they have a special other thing that they don't share with us because its their business, if they share their secret then they can not make a profit in gambling. so i think as long as we can make profit too with their advice, its no problem for us and we can make a bet with safe and we can win the games.

Finestream

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Quote from: milewilda on December 20, 2016, 09:24:56 AM

Quote from: patt0 on December 20, 2016, 08:56:50 AM

Quote from: ajaxmoor on December 19, 2016, 02:38:54 AM

I personally feel the bookmakers are at big risk too. Most of the people who make big bets, are either addicts or people who are like tippsters. With the tippsters they take a lot of risk, and addict gamblers are where they sort of make it up. A lot of casinos even like DB were hit by this guy who won big amounts, which I am sure would make any bookmaker worried.

So yes a lot of these bookmakers play around with things like odds or max bet amount which can give them the edge they need to stay in business.

I don't know if they have that much of a risk. Maybe they can't really control parlays. They might be hard to win, but they sure pay big amounts when people hit them. On single bets, I think they have all under control, or they should have if they do things properly. They control the odds and the max betting limit, so they should always have their profit even on all outcomes, no matter what happens I guess.

Same as other members here i quiet confused regarding on this matter on how bookmaker could able to generate profits regarding on this field. They cant really control parlays and i dont think that they have the full control on single bets.Some members said that they do experience risk specially when huge winnings do happen on a particular player.

There was a study already that tells, the more you have many legs in a parlay your possible winnings might increase but your chances will be lowered, so the line set was carefully studied, and if you are a sports bettors who love to make parlay bets, you can tell your percentage of winning and say to yourself that bookmakers are doing an awesome job in every line they set.

milewilda

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Quote from: patt0 on December 20, 2016, 08:56:50 AM

Quote from: ajaxmoor on December 19, 2016, 02:38:54 AM

I personally feel the bookmakers are at big risk too. Most of the people who make big bets, are either addicts or people who are like tippsters. With the tippsters they take a lot of risk, and addict gamblers are where they sort of make it up. A lot of casinos even like DB were hit by this guy who won big amounts, which I am sure would make any bookmaker worried.

So yes a lot of these bookmakers play around with things like odds or max bet amount which can give them the edge they need to stay in business.

I don't know if they have that much of a risk. Maybe they can't really control parlays. They might be hard to win, but they sure pay big amounts when people hit them. On single bets, I think they have all under control, or they should have if they do things properly. They control the odds and the max betting limit, so they should always have their profit even on all outcomes, no matter what happens I guess.

Same as other members here i quiet confused regarding on this matter on how bookmaker could able to generate profits regarding on this field. They cant really control parlays and i dont think that they have the full control on single bets.Some members said that they do experience risk specially when huge winnings do happen on a particular player.

patt0

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Quote from: ajaxmoor on December 19, 2016, 02:38:54 AM

I personally feel the bookmakers are at big risk too. Most of the people who make big bets, are either addicts or people who are like tippsters. With the tippsters they take a lot of risk, and addict gamblers are where they sort of make it up. A lot of casinos even like DB were hit by this guy who won big amounts, which I am sure would make any bookmaker worried.

So yes a lot of these bookmakers play around with things like odds or max bet amount which can give them the edge they need to stay in business.

I don't know if they have that much of a risk. Maybe they can't really control parlays. They might be hard to win, but they sure pay big amounts when people hit them. On single bets, I think they have all under control, or they should have if they do things properly. They control the odds and the max betting limit, so they should always have their profit even on all outcomes, no matter what happens I guess.

ajaxmoor

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I personally feel the bookmakers are at big risk too. Most of the people who make big bets, are either addicts or people who are like tippsters. With the tippsters they take a lot of risk, and addict gamblers are where they sort of make it up. A lot of casinos even like DB were hit by this guy who won big amounts, which I am sure would make any bookmaker worried.

So yes a lot of these bookmakers play around with things like odds or max bet amount which can give them the edge they need to stay in business.

stadus

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Quote from: erwin45hacked on December 17, 2016, 11:58:36 PM

Quote from: EdenHazard on December 17, 2016, 06:57:20 PM

they hiring a lot of master mathematics and master psychology to make us looks dumb.

It doesnt really take a genius to figure out what is wrong with the odds. Sportsbook has the highest odds in all gambling games comapred and yet people keep telling themselves that they have a real chance in gambling though some in depth research however that doesnt really mean that there will be more winner then loser

That's correct, you can easily spot when there is something wrong with the odds or you think that is not the normal odds. If a favorite team open a line as favorite and nearing game time they suddenly because underdog, then always do some kind of research as something has happen in the inside that we don't know, don't fall for the trap and jump directly.

erwin45hacked

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Quote from: EdenHazard on December 17, 2016, 06:57:20 PM

they hiring a lot of master mathematics and master psychology to make us looks dumb.

It doesnt really take a genius to figure out what is wrong with the odds. Sportsbook has the highest odds in all gambling games comapred and yet people keep telling themselves that they have a real chance in gambling though some in depth research however that doesnt really mean that there will be more winner then loser

SparkedDev

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There secrets arent really going to be leaked because then its open for more people to try to make more of the pie,
They normally work in teams and each part of the team has a part they do and only know about their part in most cases unless they are a lead.

EdenHazard

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Quote from: Kasabus on December 15, 2016, 08:18:09 AM

Quote from: EdenHazard on December 15, 2016, 12:15:50 AM

Quote from: Woodie on December 13, 2016, 02:40:52 PM

Quote from: Mzie on November 17, 2016, 05:02:17 AM

~snip~

What things have you noticed with Bookmakers that they do not want punters to know?

First things first a bookmaker will always honey pot the punter as they know that we tend play the numbers {odds}
Secondly I don't think their is a formula other than the head to head records and team\player form which we could use to bash the bookie

there is something called mathematics of bookmaking and psychology of bookmaking.

both math and psychology have a big impact to trick a lot of common people in sportsbetting. that is what i found about the theory behind bookmakers. mostly people fall into it, no wonder the bookmakers always have profit in the long run.

With math, I guess gamblers are more smarter since we can focus in one game only and we can analyze it with the data we have, but bookmakers has to set different lines in different games. Their biggest advantage is they lured us to think we are right, they master psychology over math and that is the reason why we fail even if we are too confident with our analysis base on the statistics.

they hiring a lot of master mathematics and master psychology to make us looks dumb.

and most of the times it works, all their lines are formulated to trick us . they may let us to win on 1 or two bet option but the rest are trappy. no wonder if you bet a lot at once there always something like 1 winning and 6 losts!

shulio

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Quote from: Japinat on December 17, 2016, 01:02:30 AM

I guess they don't know who will win, otherwise they just beat on the other sportsbook and stop operating,

No one really know the exact result of a game unless the game is done however in most sportsbook cases they will just confisictate your winning if they are not able to pay you. There has been alot of cases that happened with it which is why people dont really trust a new site and keep on sticking with their favourite site

Japinat

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Quote from: LuanX3 on December 16, 2016, 11:07:20 AM

Quote from: Mzie on November 17, 2016, 05:02:17 AM

Once you get to know how bookmakers make sure they always make profit, your gambling experience can be phenomenal. Some matches are over priced or over priced ( more odds offered for a winning team).

What things have you noticed with Bookmakers that they do not want punters to know?

In my local bookie, back in 2014, I waged on NBA games with him. I was doing martin gale and was losing pretty bad. So what happen was I'm on my 6th lost and I needed to wage $1,000 for a game. When I informed him about it, he said he would change the odds for this bet. I was shocked with it as it was the first time he did it. I knew a lot of players that gambled with him. So I think they always know who will win.

I guess they don't know who will win, otherwise they just beat on the other sportsbook and stop operating, maybe the amount you bet is too big and they cannot accept it anymore so they change the odds so you'll have a lesser payout in case you win. The thing is, if you are only betting in a big and reputable gambling site that $1,000 would never be big, I have seen people betting like 10 BTC in nitrogensports, so maybe you bet on such site.

Topic: Inside The Mind Of A Bookmaker (Read 1217 times)