Is this how Sportsbooks Really Operate? - page 2.

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Quote from: Davidvictorson on December 28, 2024, 03:16:59 PM

Is it true that a well-run sportsbook does not care who wins or loses, because they're just are paying you with the losers money not theirs? I find this hard to believe because they are a business and should have some money somewhere for payout. waiting to read your opinions

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Favorites trashed the opposition, all the money went to them, so there was absolutely nothing going to rest that would count as lost bets, Paisley Park went from 3 to 1 to 11/8, million poured in for it and none for the rest, the bookies simply didn't make enough money from hat to pay the insane winnings, Altior which was 3/5 had around 5 million in bets and the entire market was 6 million on betfair then, including placings.

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The bookmakers don't really care who wins or who losses because it doesn't matter who wins they always win. Statistically those who make profits from gambling are not up to the percentage of those that lose money, these companies barely pay out wins with their money, it mostly the losses of other gamblers that are used to settle the winners. But I remember a time where 22 bet couldn't pay out the wins of 50 percent of their customers. A punter dropped a game on Twitter and a lot of people copied the bet, it was more than a thousand people who played the same game, that was the first time that I ever witnessed a sportbook go bankrupt, they couldn't settle all the winners for over a month. After a while they were cautious of the games predicted by this punter, I tried to copy the booking code he dropped on his handle and place my bet but they restricted it because they couldn't take chances anymore.

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If they don't care, then they are not into business. That is why I don't believe this kind of assumption because part of being a successful business is also about taking care of their clients.

Maybe some gamblers got this assumption because we know that more gamblers had possibly lost their bets than the number of gamblers who won. It means that sportsbooks are continuously earning money rather than spending more. But this does not mean they don't care about the gamblers, it is just how the situation always favored the casino rather than us.

So we don't need to think it is unfair because that is going to happen in gambling.

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Quote from: Davidvictorson on December 28, 2024, 03:16:59 PM

Is it true that a well-run sportsbook does not care who wins or loses, because they're just are paying you with the losers money not theirs? I find this hard to believe because they are a business and should have some money somewhere for payout. waiting to read your opinions

That's right, do you think that sportsbookies will pay us their money? no, they take losers money and get winners money some commission, that's how it goes within this business.

Quote from: Davidvictorson on December 28, 2024, 03:16:59 PM

Do you believe that successful sportsbooks focus on balancing the payout odds versus the bets on each side of the ledger, rather than caring about winners in sports books?

Maybe, as long as there's balance in everything and for them to take care of their business. That's prolly how it goes.

Quote from: Davidvictorson on December 28, 2024, 03:16:59 PM

Is it true that when a sportsbook limits your bet size, it’s because they anticipate rapid changes in odds and want to avoid taking unnecessary risks?

It's not only that, there could be other factors why they limit the bet size. Maybe, you've been too good and have been winning so they have to stop you with that.

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Quote from: Davidvictorson on December 28, 2024, 03:16:59 PM

Is it true that a well-run sportsbook does not care who wins or loses, because they're just are paying you with the losers money not theirs? I find this hard to believe because they are a business and should have some money somewhere for payout. waiting to read your opinions

Do you believe that successful sportsbooks focus on balancing the payout odds versus the bets on each side of the ledger, rather than caring about winners in sports books?

This information is not correct because such model of business is not sustainable. The sportbook must have some capital to pay for winnings without which there may be problems when winnings exceed total sales. Although losses are higher than winnings in most gambling activities and this is why the theories appear to be true but in reality, such does not apply. Casinos do go bankrupt when they are hit by excessive winnings that is far higher than total sales.

Quote from: Davidvictorson on December 28, 2024, 03:16:59 PM

Is it true that when a sportsbook limits your bet size, it’s because they anticipate rapid changes in odds and want to avoid taking unnecessary risks?

I see this in few platforms and I get irritated when I see that because it is like restricting my freedom and choice. Instead of limiting my bet size, the game should never be added among the bets that customers can bet on.

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Most traditional sportsbooks we use operate differently and usually it comes from their bankroll instead of the loser's money because the losing bets are rarely enough to pay out winners.

Afaik, only the p2p or parimutuel bets are the ones that entirely pay out everything from the loser's money because the odds always move whenever you place a bet.

I doubt the top sportsbooks focus on keeping bets or the odds equal when it takes more effort than bringing up a list of winners and limiting them.

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Quote from: Davidvictorson on December 28, 2024, 03:16:59 PM

Is it true that a well-run sportsbook does not care who wins or loses, because they're just are paying you with the losers money not theirs? I find this hard to believe because they are a business and should have some money somewhere for payout. waiting to read your opinions
Do you believe that successful sportsbooks focus on balancing the payout odds versus the bets on each side of the ledger, rather than caring about winners in sports books?

Actually, if a casino doesn't have that much bankroll, they will be caught one day if doing these things for a long time. And at that time, their reputation will not be worth anything. I am saying caught because if they haven't not much bankroll and they were just paying via the losers money then may one they they will not be able to pay the winner rewards.

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Is it true that when a sportsbook limits your bet size, it’s because they anticipate rapid changes in odds and want to avoid taking unnecessary risks?

This is actually a matter of consideration, but I haven't placed any large bets so far, so I have no idea. They limit betting sizes at all just to avoid unnecessary risks.

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Quote from: Stepstowealth on December 28, 2024, 04:13:54 PM

I believe they have some kind of back up money in store should in case the number of winners that they have to pay surpasses the amount of losers money that they intend to pay with. It is a business and using the money from losers to pay wins can also be considered part of running the business. If a sport book does not have their own backup money to pay winners and one day gamblers do not loose enough to them, and they experience a higher number of winners that day than they can pay, they will end up owing which is delaying withdrawals, or looking for reasons to disqualify some winners.

It’s important for bookies to have backup money, but with the high volume of bets, that might not always be enough, also, it’s not the bookies who dictate the odds or line movements but it’s the oddsmakers who supply the odds to the bookies. That’s why you’ll notice that the lines are usually similar across platforms, with only slight differences, to prevent bettors from exploiting arbitrage opportunities.

This system ensures bookies are always in a position to pay the winners. In cases where large sums of money are involved, I believe they have partnerships with other bookies to move those bets or handle them on behalf of the bettors. This way, they can avoid turning down bets and maintain smooth operations.

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Quote from: Davidvictorson on December 28, 2024, 03:16:59 PM

Is it true that a well-run sportsbook does not care who wins or loses, because they're just are paying you with the losers money not theirs? I find this hard to believe because they are a business and should have some money somewhere for payout. waiting to read your opinions

Do you believe that successful sportsbooks focus on balancing the payout odds versus the bets on each side of the ledger, rather than caring about winners in sports books?

Is it true that when a sportsbook limits your bet size, it’s because they anticipate rapid changes in odds and want to avoid taking unnecessary risks?

Running a successful sportsbook is a delicate balance between risk management and profitability, as they have no real preference for who wins or loses, as their business model is designed to make a profit regardless of the outcome, so they simply balance the odds and pay out winners with the money from losers. However, it is important to note that bookmakers manage their financial liabilities and hold reserves to ensure they can pay out winners and thus maintain a balance of things and also their reputation and sustainability.

So Yes!!! successful bookmakers focus on balancing the payout odds in relation to the bets on each side. This balance ensures that regardless of the outcome, the bookmaker maintains a profit margin.

They may also anticipate changes in the odds or want to mitigate potential significant losses, which is why you will sometimes be offered to cash out early and forgo taking your bet to the end of the game.

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Quote from: Davidvictorson on December 28, 2024, 03:16:59 PM

Is it true that a well-run sportsbook does not care who wins or loses, because they're just are paying you with the losers money not theirs? I find this hard to believe because they are a business and should have some money somewhere for payout. waiting to read your opinions

Do you believe that successful sportsbooks focus on balancing the payout odds versus the bets on each side of the ledger, rather than caring about winners in sports books?

Is it true that when a sportsbook limits your bet size, it’s because they anticipate rapid changes in odds and want to avoid taking unnecessary risks?

All they care about is getting a 50-50 action on both sides to ensure their commission, which is usually 10% or more. That’s how they make money, they profit from the volume of bettors, not from who loses. Essentially, when we gamble on a sportsbook, we’re not gambling against them; they’re just facilitating our bets.

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I think this is a recycled question, lots of times i have seen people here talk about how casinos or sportbooks have a regulatory body that requires them to pay a certain amount of money that helps them settle their winners when they are either yet to gain popularity.

Additionally, I believe when sportbooks set limit to your bet side it's because they are either suspicious of your activities or they are trying to protect themselves from something that is really important that's just my own opinion of setting limits to bet size.

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Quote from: Davidvictorson on December 28, 2024, 03:16:59 PM

Is it true that a well-run sportsbook does not care who wins or loses, because they're just are paying you with the losers money not theirs? I find this hard to believe because they are a business and should have some money somewhere for payout. waiting to read your opinions

while it is true that casinos/sportsbooks fund their platform with losing gamblers money and pay winning gamblers with it(while they do this, it doesn't mean that they don't have reserved funds for emergency situations) they still do care who wins(not entirely sure about those who lose) but probably only those who win a significant amount especially to those that constantly win significant amount as it could affect their casino in some way.

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Quote from: Davidvictorson on December 28, 2024, 03:16:59 PM

Is it true that a well-run sportsbook does not care who wins or loses, because they're just are paying you with the losers money not theirs? I find this hard to believe because they are a business and should have some money somewhere for payout. waiting to read your opinions

Every casino or sportsbook (as you referred to it as) sure have a bankroll, which is fund reserved for the running of the casino, from this fund, winners are settled as immediately as they win a bet, so that incase they request a withdrawal, their withdrawal is immediately processed without much delay.
But then and still, casino still move funds they gained from losers to the bankroll of the casino to make it more liquid. What I assume is that, a certain or specified percentage of funds made from losers in every 24 hours is moved to the casinos bankroll, while the other percentage are moved to the casino expense account for the running and maintaining of the casino, and payment of salaries.

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Do you believe that successful sportsbooks focus on balancing the payout odds versus the bets on each side of the ledger, rather than caring about winners in sports books?

I don't understand this question, so no answer.

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Is it true that when a sportsbook limits your bet size, it’s because they anticipate rapid changes in odds and want to avoid taking unnecessary risks?

Well, personally, I believe there are several reasons why casino limit player's bet size, and maybe this is one of the possible reasons, but then, I have always believed that the major reason why casino limit players bet seize is when the player is found to only bet on a particular type of game/matches, and he or she is always winning all the time, or majority of the time.

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Quote from: Davidvictorson on December 28, 2024, 03:16:59 PM

Is it true that a well-run sportsbook does not care who wins or loses, because they're just are paying you with the losers money not theirs? I find this hard to believe because they are a business and should have some money somewhere for payout. waiting to read your opinions

That’s not entirely true. I’ll say entirely because, even some sportsbook or gambling firms in general do run out of business. This could be due to low patronage on the site which could be improved by campaigns and perhaps the ease to access on the site and at other times, it could be due to so much winning on the sites and abuse related activities.

Now what could be the case when there are so much winning, you find a gambling site heading towards bankruptcy and eventually, closing the site. Where is the losers money in that? If it were ti losers money only, then we wouldn’t have been seeing gambling firms running out of business.

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Quote from: Davidvictorson on December 28, 2024, 03:16:59 PM

Is it true that a well-run sportsbook does not care who wins or loses, because they're just are paying you with the losers money not theirs? I find this hard to believe because they are a business and should have some money somewhere for payout. waiting to read your opinions

Do you believe that successful sportsbooks focus on balancing the payout odds versus the bets on each side of the ledger, rather than caring about winners in sports books?

Is it true that when a sportsbook limits your bet size, it’s because they anticipate rapid changes in odds and want to avoid taking unnecessary risks?

Well for one I know that they definitely care about you winning alot because they always regulate and check for users that tend to be having their ways with constant winning as that would definitely put out their casino in terms of business and that's why most casino really take their time to access a players account especially when such hit a very big win maybe once or twice. But for the losses, I think they're okay with you losing always, I mean more loss means more profit although to a certain degree they would care too cause excessive losses might chase players too.

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Quote from: Davidvictorson on December 28, 2024, 03:16:59 PM

Do you believe that successful sportsbooks focus on balancing the payout odds versus the bets on each side of the ledger, rather than caring about winners in sports books?

Well to clear the doubt I think that's how they operate, on a norms money is required to run such places but then they get more chances and access to funds to settle some other activities that are runned from people's losses to game and it's in the same vein they get to pay the winners of a game too. Tho I believe they do better than this but then this are templates of how they operate.

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Quote from: Davidvictorson on December 28, 2024, 03:16:59 PM

Is it true that a well-run sportsbook does not care who wins or loses, because they're just are paying you with the losers money not theirs? I find this hard to believe because they are a business and should have some money somewhere for payout. waiting to read your opinions

I believe they have some kind of back up money in store should in case the number of winners that they have to pay surpasses the amount of losers money that they intend to pay with. It is a business and using the money from losers to pay wins can also be considered part of running the business. If a sport book does not have their own backup money to pay winners and one day gamblers do not loose enough to them, and they experience a higher number of winners that day than they can pay, they will end up owing which is delaying withdrawals, or looking for reasons to disqualify some winners.

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The thing is that casinos that include sports bookies are on their sites like Stake are well funded and at that, there is an excess bankroll to make a payout to the winner regardless of the amount in winning, this is very important because as far as gambling is concerned there will always be winning and also loses and the casino have it odds calculated based on facts as far as the gamblers are losing so also the sports bookies are losing but then it's always in favor of the house and as long as the odds of the game are calculated to go inline with house edge so also the players risk chances are increased.

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Quote from: Davidvictorson on December 28, 2024, 03:16:59 PM

Is it true that a well-run sportsbook does not care who wins or loses, because they're just are paying you with the losers money not theirs? I find this hard to believe because they are a business and should have some money somewhere for payout. waiting to read your opinions

The losers are always more and that is enough to give the betting site the thinking that most people will lose and they will use the profit to pay the winners and also pay their workers. After a betting site is established already, that is the truth about them but not in a way they will not be able to pay the winners.

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Quote from: Davidvictorson on December 28, 2024, 03:16:59 PM

Is it true that a well-run sportsbook does not care who wins or loses, because they're just are paying you with the losers money not theirs? I find this hard to believe because they are a business and should have some money somewhere for payout. waiting to read your opinions

Yes, it's true that a well run casino, either physical or online don't care who wins or loses money while gambling on their casino, but that doesn't mean they don't take records of who wins either a jackpot or loses a jackpot on their respective casinos. Because one that certain is that when a new casino is launched, they always try as much to set their maximum winning limits according to their budget, of which as the casino grows with much funds, they may gradually increase the maximum winning limits. Because the truth of the fact is that winnings are always paid from the loses of others.

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Do you believe that successful sportsbooks focus on balancing the payout odds versus the bets on each side of the ledger, rather than caring about winners in sports books?

Casinos are business ventures and the primary aim of every business enterprise has always been to maximize profit, so on that note, I wouldn't doubt if users claim casinos focus more on balancing payout odds, than caring who wins or not.

Topic: Is this how Sportsbooks Really Operate? - page 2. (Read 282 times)