Is this how Sportsbooks Really Operate?

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Quote from: Slow death on December 29, 2024, 01:10:35 PM

Whenever I read about people being limited in the amount of bets they can make, it's always people who say they were winning a lot or were winning consistently. So it makes me think that casinos limit people when they win a lot and often it's to keep the casino from going bankrupt. Although I consider this practice to be very unfair because when people are losing a lot of money, they are not limited to playing with less money.

In most cases yes! Casino will restrict users that keeps getting profit from their bankroll either from pure skills or doing some strange strategy like match fixing and arbitrage betting that makes the EV of their bets positive.

Not only bets being restricted also some casino restricts users to avail bonuses or participating in the tournament. Overall, anything which the player make a consistent profit can be limited/restricted.

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We just say that the sportsbooks pay the winners with the losers money. Beyond this there is a big team that does major operations of setting the odds. It is the odds that bring the profit and loss. Different factors were considered, and the odds were set. Particularly historical data, predictive models, public sentiments, and expert opinions were given importance to balance the odds. The dynamic variations in odds continue till the end of the sport event, which too contributes to balancing the book. During the event, the weather and player changes due to injuries were also considered, and odds were changed. This is how it operates, and not just on the winnings settled out of the losers. To have a balance, initially the sportsbook team needs to do a lot of work.

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Quote from: Russlenat on December 29, 2024, 06:56:36 PM

Quote from: Slow death on December 29, 2024, 01:10:35 PM

Whenever I read about people being limited in the amount of bets they can make, it's always people who say they were winning a lot or were winning consistently. So it makes me think that casinos limit people when they win a lot and often it's to keep the casino from going bankrupt. Although I consider this practice to be very unfair because when people are losing a lot of money, they are not limited to playing with less money.

That really proves the saying: "casinos love winners and hate losers" holds true. It’s just business, and they have to ensure their operations stay profitable. If they let someone consistently win big while betting huge amounts, it could jeopardize their survival.

Sports betting is a massive market, though, and if a bettor faces limitations, they can always switch to a bigger sportsbook with higher limits. That usually solves the problem for them. It’s just part of the game, casinos protect their interests, and bettors find ways to keep playing.

At the end of the day, they need to take care of the continuity of their business so they need to establish a system where they will not go bankrupt. Of course, it is their prerogative if they will limit the amount of bet as they have considerations such as their financial capabilities, the operational costs and other matters that can support the stability of their business.

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Quote from: Slow death on December 29, 2024, 01:10:35 PM

Whenever I read about people being limited in the amount of bets they can make, it's always people who say they were winning a lot or were winning consistently. So it makes me think that casinos limit people when they win a lot and often it's to keep the casino from going bankrupt. Although I consider this practice to be very unfair because when people are losing a lot of money, they are not limited to playing with less money.

That really proves the saying: "casinos love winners and hate losers" holds true. It’s just business, and they have to ensure their operations stay profitable. If they let someone consistently win big while betting huge amounts, it could jeopardize their survival.

Sports betting is a massive market, though, and if a bettor faces limitations, they can always switch to a bigger sportsbook with higher limits. That usually solves the problem for them. It’s just part of the game, casinos protect their interests, and bettors find ways to keep playing.

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Quote from: Tmoonz on December 29, 2024, 11:54:17 AM

Quote from: Lida93 on December 28, 2024, 03:49:00 PM

I have once thought about this once but not sure about my conclusion about what I think about them meeting up with payouts whether huge or small amounts. But I do believe that for a well established sportbook that have gained popularity with large user base then it's safe to say that it can be true about paying winners from losers money with the high ratio of losers to winners in every gambling day.
It's for newly developing sportbook that are in their building phase that would have to worry about keeping money somewhere to cover for any huge win since their user base isn't yet big and players losses to the sportbook can't be sufficient to cover for huge winnings.

I believe they all have money somewhere to pay on a huge win even though it can also be subsidized from other peoples losses considering the fact that while others might be Lossing others too might be winning and it can be very hard to balance the losses from the winning as regards to not ensuring that there is a certain amount of money kept already for payouts, and i believe that is one of the reasons they usually have maximum betting amount limitations to balance up what they can be able to payout at maximum winning so as not to get misunderstanding with customers at the events of payments after winning. But from my observations in most betting offices they are very good only wanting to payout on winning from other people losses, I can remember having a delay of Payment because of this reason and which is very bad.

Like I earlier said, this is something that's mostly a concern for new developing casinos to worry about starching some money somewhere untouch for huge wins and which the money would have to be within the range of the casino maximum win amount. This underlies why casinos changes their maximum win as they tend to get more customers with time because they also start having increasing size of losses as user base increases which can easily cover for huge wins.

Perhaps you'll want to read this thread about primedice https://bitcointalksearch.org/topic/m.64881823 and compare them to where they are today if 25000$ is anything that they can't be able to payout at once contrast to how challenging it was for the casino when they were in their start-up phase with no much customers as it is now, through which funds can be generated from their gambling losses.

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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, Im not really sure about that. Personally, I don’t know all the technical details about how sportsbooks operate behind the scenes but from what I heard they do try to balance the bets on both sides to make sure they always come out ahead without losing anything to the total amount bet by players, regardless of the result. The idea is probably that they make their money from the margins like the difference between what they pay out and what they take in rather than directly worrying about who wins or loses, as a platform that generates money every day and all the time.

As for limiting bet sizes, I guess it’s more about managing their risk. If they see a chance that odds might swing too much in one direction which can make the players win huge, they probably switch things and want to protect themselves from losing too much in a short period. But again, I’m just sharing what I think based on bits I picked up during my long experience in gambling.

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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?

Hold on, all of a sudden, are we now trying to prove that the casinos don't actually take tickets into account? If you think they just go ahead to merge/balance 'em tickets on each side of the ledger, how do they make profits?

Secondly, it doesn't make much sense to me since we'll always have more losing tickets; so let's assume 1000 games were merged, 650 were lost tickets and 200 were winnings (which ofcourse is controlled by the house edge to not exceed the net interest at the end), then maybe 150 refund tickets (depending on their %) after the subsiquent bet is concluded, what happens to options that need refund like the draw no bet and the rest??
I don't know how these bookies operate, but I feel we're gambling against the game itself, putting the casino in the middle to make profit regardless of whether you're able to win or not... Yes, they regulate the whole process with the odds that you see.

Quote from: seoincorporation on December 29, 2024, 12:55:53 PM

Casinos pays the sports bets with their bankroll and not with the losers money. They have diferentes odds in the games, that way they can win in long run.

Even if they decide to pay with it, are y'all not supposed to wait till the bets are settled before payments are made? That way, even without extra income as some of y'all claim, they can pay off of what they make.

Slow death

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Whenever I read about people being limited in the amount of bets they can make, it's always people who say they were winning a lot or were winning consistently. So it makes me think that casinos limit people when they win a lot and often it's to keep the casino from going bankrupt. Although I consider this practice to be very unfair because when people are losing a lot of money, they are not limited to playing with less money.

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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

even if they don't have some money elsewhere for the payment, the amount lost in .last gambling is always more than the amount won and that way, it is easy for them to make enough profit that will serve for the settlement of those that have won in Thier bet. It's a business scheme and they care less about what's going on with gamblers or who is winning more or lossing more. As long as the strategy in use is working in a way that thier is enough money to be used in settling gamblers and others that goes into adverts and other logistics, then thier operation pattern is very much okay.

But the truth is that casinos and sports betting platforms always have enough capital that is enough to run all their expenses. When you consider the amount that goes into advert just on the forum and in all the other platforms, you will discover that it takes a lot to run a casino and any active casino is strong enough to sort out gamblers pay out and every other expenses.

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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?

Whats your source?

Casinos pays the sports bets with their bankroll and not with the losers money. They have diferentes odds in the games, that way they can win in the long run, but not all the event make them win money.

If a popular soccer team play VS a newbie team, most of the bets will go for the popular one, and that match will representa a lose for the casino if the popular team win.

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Quote from: Lida93 on December 28, 2024, 03:49:00 PM

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 have once thought about this once but not sure about my conclusion about what I think about them meeting up with payouts whether huge or small amounts. But I do believe that for a well established sportbook that have gained popularity with large user base then it's safe to say that it can be true about paying winners from losers money with the high ratio of losers to winners in every gambling day.
It's for newly developing sportbook that are in their building phase that would have to worry about keeping money somewhere to cover for any huge win since their user base isn't yet big and players losses to the sportbook can't be sufficient to cover for huge winnings.

I believe they all have money somewhere to pay on a huge win even though it can also be subsidized from other peoples losses considering the fact that while others might be Lossing others too might be winning and it can be very hard to balance the losses from the winning as regards to not ensuring that there is a certain amount of money kept already for payouts, and i believe that is one of the reasons they usually have maximum betting amount limitations to balance up what they can be able to payout at maximum winning so as not to get misunderstanding with customers at the events of payments after winning. But from my observations in most betting offices they are very good only wanting to payout on winning from other people losses, I can remember having a delay of Payment because of this reason and which is very bad.

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I don't think so. They must care or else they will be the ones losing.

Imagine just leaving everything behind with the system. It's more like a decentralized sports bookie because you are just letting both sides play against each other.
They must care about the odds or else they won't make profits. They will keep on adjusting it to where it suits them best and that's where they will get their profits from. Sure, they are letting both sides play but they are also keeping it under control so that they won't lose money in the end.

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I know that sportsbooks balance both sides of each wager and make sure that winners are paid, including their commission. They need to have that in order to continue their business. If it's not balanced, it's not a good sports book, and I believe that they also need to have funds for covering payouts that might not be balanced correctly.

I think it's to help them maintain market stability and not be surprised by rapid changes in odds that might cause the imbalance. If they have this instability, it will also impact their profitability.

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Quote from: stompix on December 29, 2024, 08:59:51 AM

Cheltenham festival before covid in 2019
https://www.greatbets.co.uk/bookies-have-worst-day-in-history-after-40-million-loss-on-day-3-of-the-2019-cheltenham-festival/

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.

Wow, the story is good evidence for me. I read it all, and learned that even bookies lose money due to an imbalance in betting, like when favorites win a lot, is not common but does happen sometimes. And I believe that bookies lose money during big events but they are balanced out by normal days when bets are even.

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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?

Sportsbook isn't paying you just from the losers money because they have to pay everyone if everyone just only bet on the winning team which means they operate and reward the winners from their revenue.

Most Gambling platforms have limits on the rewards not on the betting amount because that's what make them to broke.

ajiz138

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Don't know about this, because only casinos can give a clear picture, but not sure the bookies pay winning bets from the losers, my guess is where they have their own bankroll without having to rely on the losers first to pay the winners,

And we already know that of the many sportsbook bets, there are many losers, so here is the advantage of the bookies to continue to increase their business, so if that's the case, I don't think the bookies are likely to do it.

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What I think is that the betting and casino house only has a good algorithm that regulates all this and that, apart from everything, guarantees the distribution of money Among the players who lose to give it to the players who win at any given time. The limitations may be the Capacity that each casino has and this is due to what they want to show, a casino should always take care of the funds it has so that it does not become decapitalized, that is what they take care of the most , in a casino what they take care of the most is its capital assets, that is why these things about the Advantage cannot fail.

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If it's a new sportsbook, I believe they do have some investors and backup funds to pay winners but for a successful sportbook I don't have doubt that they pay winning players from the lose of other losing players, the reason is because once a bookie is successful, they already have thousands to millions of people that are losing every day and they can pay gamblers that win their bet from the lose of others. With what some sportbook are doing now, they are now adding some casino casino games too which thousands of players are losing more frequently. So they do have enough money to pay winners and still profit too.

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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

It’s true that they are paying using losers money but that doesn’t mean it can cover all the winners money. It depends on the winners money amount but they do use their bankroll to cover some payout in case losers money is not sufficient.

Those who believe that casino doesn’t risk their bankroll doesn’t know how casino operates. They are just winning in the long run due to the house edge and the risky bets from gamblers.

Quote

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 about rapid changes on odds that’s why you are limited rather you are unprofitable to the casino probably due to high winning percentage as way to cut loss.

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I think if the bookies use from third party, they will not able to adjust the odds in order to make them always in profit, because using third party provider means not only one bookie use that, but there are other bookies too.

So, the odds comes from the calculation from all bookies, not only from one bookie.

They do need to have reserves, the house always win, but not everything goes as expected.

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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

Cheltenham festival before covid in 2019
https://www.greatbets.co.uk/bookies-have-worst-day-in-history-after-40-million-loss-on-day-3-of-the-2019-cheltenham-festival/

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.

Quote

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.

DaNNy001

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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.

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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 don't believe on this, because to start a gambling business, you need money to do so, not only that, there is need for another backup fund to maintain it running's, same will it be when you first started and the first sets of gamblers that bet won and you have nothing to do than to pay them, even though for the advanced ones, they might have enough money that they keep in rotating within the gamblers fund for those that win with those that are loosing.

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?

I may not know much on these since am not a sportsbook operator neither have i participated in any, but we all work by what the people are saying regarding it, only the experienced ones should have something to say regarding this.

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 may go with this by saying yes, they try to set a limit in other for them to restrict the gambler from going beyond their budget.

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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 have once thought about this once but not sure about my conclusion about what I think about them meeting up with payouts whether huge or small amounts. But I do believe that for a well established sportbook that have gained popularity with large user base then it's safe to say that it can be true about paying winners from losers money with the high ratio of losers to winners in every gambling day.
It's for newly developing sportbook that are in their building phase that would have to worry about keeping money somewhere to cover for any huge win since their user base isn't yet big and players losses to the sportbook can't be sufficient to cover for huge winnings.

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Not true.

If they not care about losing and win, they will play a someone who are doing "arbitrage" system on the sportbooks. Did you want to know, sportbook having some limited bet size you can place (In case you're new).

Plus, they are restricted any user/player are really advantage player. Limiting the bet size, is one of the proof they are also care and protected their income from advantage player.

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This could be true and I don’t really know how they operate and payout to their customers that win bet on their platforms. Giving limitations to some users when betting could be as some limits set on their accounts but who cares if they are really serious to make more money. The inability of customers to place more bet due to the fear of not having enough money to payout could also be a major reason to why your claim may be true. And if it happens to be true, there could also be that some of this games might be fixed ones and they already know that it is highly probable for them to win and hence the limitations set on their accounts while making bets.

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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?

Topic: Is this how Sportsbooks Really Operate? (Read 299 times)