Nowadays, there is a way for you to become the
bookmaker, due to the emergence of Betting Exchanges such as Betfair and
theory you can become the bookmaker by laying every outcome so that you will
make a small profit once you have paid out to the winner. In practice making a
book (as they call it) is almost impossible. It is all down to maths. They offer generous
incentives for you to join them with some sites offering to match your deposit
up to £200 and do you know why? It’s because they know that they will get their
money back plus most of yours.
I place a £10 bet on Chelsea to win
The only people who are making money out of gambling are the bookmakers;
the exchanges and the spammers who sell systems that promise you the earth.
Don’t fall for it; within a few months they will be selling another system
because their earlier ones don’t work.
You could win eight times out of ten then lose all your profits
on the two games Chelsea lost or drew. The exchange
takes a 5% cut from the winner of the bet. You
may even manage it once but then to keep on doing it, is very unlikely.
Can you see that I am at a disadvantage from the start? If
Chelsea lose then I lose £10. It
is very unlikely that you will ever get the odds needed to complete a book. Even if you do become successful and manage a winning streak,
the chances are that bookmakers will limit or even suspend your account and in
some cases just refuse to pay out. The odds just don’t allow it. If Chelsea draw then I lose £10, I can only win
if Chelsea wins.
If Chelsea wins then I win £10 – 5%
Someone else bets £10 that Chelsea will not win.
. A very simple example:
That was a very simplistic example. It is these differences in the betting odds that
ensure that you will never win at sports betting.
Gambling over the Internet
betting has never been easier to do. There are literally thousands of sites on
the Internet all dying to get their hands on your money. In reality it’s much more
complicated. Chelsea are expected to win most of their games and so the odds
for Chelsea to win are very low, whereas the odds on the other team to win and
the draw are quite high. In other words, the more successful you
become then the less you will actually win until eventually you lose any profit
that you gained.
A betting exchange is different to a usual bookmaker because you
are matching your back bet with a lay bet placed by someone else. Exchanges use
bots (software) to keep the odds markets artificially fluid that ensure that
people will bet more, especially when an event is in running.
only person to win is the bookmaker, when did you ever see a bookmaker riding a
bicycle? Never is the answer