As a bookie, the odds are always on your side.
It’s important that you understand exactly how a bookie makes money.
Bookmakers make money by charging a commission (vigorish) on every bet. For instance, if a player wants to bet on a point spread, which is a 50/50 proposition, they’ll place the bet at -110 odds.
In a 50/50 proposition, the true odds should be +100, but a bookie wouldn’t make money then.
That’s why bookies charge a small commission on every wager. This turns the odds in your favor as a bookmaker and it’s how bookies make money over the long run.
Most sports bettors aren’t good enough to consistently beat the vig. Over the long run, the majority of your players are going to be losers. In fact, every player might end up being a long-term loser.
Only a very small percentage of bettors win long-term.
Why Bookies Have the Edge Over Sports Bettors
Apart from the commission charged by bookies, there are other ways bookies gain an edge.
- Sharp Lines: Bookies utilize the world’s top experts to manage the betting odds. Not only does a player need to beat the vig, but they also need to beat the betting lines.
Have you ever bet NFL point spreads? If you have, you know how hard it is to gain an edge over the bookies. The reason is because NFL spreads and odds are sharp and tough to beat long-term.
A lot of NFL games end up finishing within a ½ point of the closing point spread.
- Alternate Markets: By offering bets like parlays, props and live betting, the odds swing into the bookies favor even more than with straight bets, thus increasing your revenues.
Bookies charge higher commissions on bets like parlays and props. For example, a live betting prop market may have -120/-120 or -115/-115 odds instead of the standard -110/-110 odds.
- Can Limit Players: Bookies also have the benefit of limiting or restricting any player they want. It’s a common occurrence for a winning bettor (sharp) to be banned outright.
One thing bookies don’t like are winners. Even the biggest online bookies limit players daily. If their algorithms say that a player is sharp then they often limit that player to miniscule bet limits.
Stop Gambling and Become the Bookie
As you can see, the odds are on the side of the bookie and it’ll always be that way.
Sports bettors will have some winning streaks, but most always end up losing. Stop gambling and become the bookie. I’m sure you’ve heard the saying “the house always wins”?
Bookies don’t always win, but the odds are on your side. Starting a bookie is inexpensive nowadays due to pay per head bookie solutions that provide the software to run a gambling website.
One of the leaders in the industry is PayPerHead247. The prices start at $10/head (weekly fee), but you only pay for active players with no minimums. You can start with one player at $10/week.
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