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- Herausgeber: Fsi Grupa d.o.o.
- Kategorie: Lebensstil
- Sprache: Englisch
BECOME A SUCCESSFUL BOOKMAKER How to Create Monthly Income from Betting on Sports? All you have to do is change the gambler's way of thinking and think of the bet as some kind of investment and turn your losses into a winnings! The book Successful bookmaker will help you with that! You are betting frequently but there is no way to get on the green branch? Regularly you are going to lose just because of a failed one pair? Going crazy already but there is no way to make a profit?? Because of all this you have come to the conclusion that something needs to change, and you don't know what? Take a breath, because everything you need is in the book that we present to you!
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Seitenzahl: 130
Veröffentlichungsjahr: 2013
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M. KING
Successful bookmaker
Publisher:Fsi grupa d.o.o.
Author:M. King
Illustrator:Dragana Hajsok
Proofreading and correction:Anica Fatiga
Contact:[email protected] © 2013. Fsi grupa d.o.o.
Important legal information:
All information contained in this book are provided for general information purposes only and do not in any way constitute professional, financial, legal or any other advice. If you need specific advice, always look for help of a suitably qualified and authorized professional person. The author, publisher and distributor do not have any material, legal or any other responsibility for the accuracy of data, facts and any other information as well as any damages resulting from its application. No part of this publication may be copied, published or in any way used without prior written permission from the publisher.
Introduction
Chapter 1 - About Betting
Imagine the following scenario: A man enters to the Sportsbooks, cheering for Barcelona; he put a bet of 100 dollars on Barcelona because he "knows" that it will win...
How many times you were in the same situation? Maybe your fan isn’t Barcelona but you were in the same situation. Can you find yourself or your friends in this example? Where is the difference between the man in the above example from any other gambler who enters to the casino and put 100 dollars on red? There is NO difference.
Both are investing by feeling, without any knowledge about the opponent and chances they will win. Most of bookmakers put a bet on something because they have this feeling. Gambler is also investing because there is a feeling, although the quotas are against him.
When the gambler put a bet on red, his winnings will be doubled, because the coefficient of the game is 2. But since there is zero, for him there are 18 favorable and 19 unfavorable possible outcomes. Zero makes a difference and the probability of winning is 50%, rather than 48.6%. Means, that coefficient for the game is 2, and probability to win is less than 50%. Over the long term, if he will play it 100 times, 51.4 times will lose, and 48.6 times will earn and at the end - if the bet for each game was the same, that will be a loss then.
The purpose of this book is to promote the betting and to think of the bet as some kind of investment.
When you bet, you must avoid betting with the feeling because there is possibility that betting become gambling. Reasons to bet on a particular sport event have to be rational and based on facts. This is the difference between betting and gambling.
However if we look at gambling as a deposit to the event over which we don't have an influence, in order to achieve the profit, then the betting is certainly gambling. But according to this logic any other investment then would be a gamble, so, we will not fully agree with this definition.
Betting can be in most cases gambling because most of people are investing by feeling or incomplete information.
How to change the nature of betting? What is the essential difference between gambling and betting? We will talk about this in the following chapters.
Professional betting is a very serious business that requires your money and your time. Betting requires time to study the offers, the analysis of all events related to your bet, information, management statistics, development of investment strategies and investing the money.
How do Sportsbooks Work?
At the beginning we must clarify how sportsbooks make a profit. To be able to bet successfully and make a profit, you have to know your opponent very well. We have to understand how the sportsbooks work and how they make money.
At Sportsbooks work experts called "bookmakers". Those are people who determine the coefficients on online betting every day, from hour to hour, even from minute to minute, on a particular sport event. Their mission is to reduce the risk of sportsbooks on some sport event.
What does this really mean?
This means that sportsbooks, for example, "are not cheering" that the favorite has to lose, but, ideally, want to make money on every possible outcome, no matter how the match will end. Unlike bookmakers, who can never earn with betting on all three (or two) possible outcomes of one game, for sportsbooks this is precisely the purpose.
Righteous coefficient on some match does not exist!
In order to earn from betting in any case, the bookmakers have two types of tricks: the first trick is generally offering lower coefficients from the real ones and the other trick is overly favoritism of favorites.
Each Sportsbooks has its own profit margin that varies in a few percentage points. This means that bookmakers in most cases will not offer a realistic coefficient, but few points lower. The easiest way to show that is on sports event that has only two possible outcomes, such as tennis. At the meetings in which the opponents are even, realistic ratio in both outcomes should be 2.00.
Players in World Sportsbooks know very well that in that case they will get 1.80 or at most 1.85. Check the table of coefficients of World Sportsbooks and you will notice how much "taxes" on the coefficients some Sportsbooks take.
If we want to see what is the profit margin of Sportsbooks we need to calculate how much money we have to invest in order to have a sure payout of 1 dollar.
In order to get 1 dollar, at the outcome x, we have to invest amount of 1/coefficient at x, and this is also possible for other outcomes (1 and 2). Suppose that the coefficients to the 1 x 2 are 1.90; 3.30; 3.25
So, in order to get 1 dollar, we have to invest 1,167 dollar. In other words, from the bet of 1 dollar sportsbooks earn 0.1431 (divide 1 dollar with 1,167 and subtract 1 from that). Profit margin of Sportsbooks is 14.31%.
Equalization payments
Bookmaker’s main task is to equalize the amount that Sportsbooks have to pay on any of the possible outcomes of a sports event. That means if the sportsbooks want to earn, for example 100 dollars of payments at the ratio 1:30 (payment in case of a win +30 dollars) and 40 dollars at the coefficient 3.00 (payment in case of a win +120 dollars).
If that would happened, the sportsbooks can't lose, in both cases they would earn 10,000 dollars.
Because of this, Sportsbooks always overestimate favorites, or give even smaller coefficient on outcomes that are very likely, for example, favored match FC Real Madrid against FC Reading. Sportsbooks are doing that because they want to minimize the amount which they have to pay in the case of a win of FC Real Madrid and to attract players with attractive coefficient if FC Reading wins, tied match, x2...
You must know that bookmakers will never succeed to equalize the amount that Sportsbooks has to pay if FC Real Madrid or FC Reading wins. Therefore, all bookmakers are always hoping that favorites will lose or that players will put at least two or more pairs at the same ticket and miss at least one game. That's why some sportsbooks provide additional bonuses and benefits to putting more pairs on one ticket.
What does it mean when the coefficients fall?
Before you put a bet, be sure to check the coefficients movement. Every day the coefficients are different considering to the initial coefficient of a particular match.
Bookmakers change their original course when they realize that the initial rate is overpriced and that is not a valid power ratio. Besides, one of the reasons may be the change of circumstances in relation to the composition of the initial information (for example player injuries, injuries of key strikers, changing weather conditions ...). Most frequent cause of coefficient changes are the large bets at some football matches. A large number of bets on a match automatically reduce the coefficient, because sportsbooks suspect at possible frauds or something like that.
Please note that all these coefficient drops don't mean that you will win, but it gives you an indication that something strange is going on in that meeting. Means, coefficient drop gives you a warning to better consider this meeting and to find all the possible surprises. As you know, it's impossible to see this directly at the sportsbooks, because they don't show changes of coefficients.
In this case, use internet, which is the perfect tool for finding pairs with variable coefficients. There are many portals that daily monitor the change of the coefficients.
Costs imposed by Sportsbooks
We will mention some huge fees charged by European Sportsbooks. Sportsbooks don't take this profit, it goes to the state, and 5% is a tax that every European sportsbook has to pay. Foreign Online Sportsbooks have no fees, because in other countries this tax doesn't exist. Instead of Croatian sportsbooks take this cost of 5%, players have to pay it.
Sportsbooks generate the profits by winnings!
