Learn about how different bookmakers make money and how this could affect your game and strategy in sports betting.Read More
Use multiple bookmakers
To maximise profits, you need to maintain a high turnover by placing many bets. When placing a high volume of bets, there are two ways of distributing that volume. One way is to use 1-3 bookmakers at any one time and placing bets on as many opportunities as you can, placing on all leagues, low percentage edges, and games that start more than a day ahead. Placing on low percentage edges and games that start far in the future will increase your variance. The optimal solution is to spread the volume throughout bookmakers, while only placing bets on the best opportunities on each book. For high volume traders, this can't be stressed enough. By using 5 or more bookmakers, you can consistently place on the best opportunities, whilst maintaining a high volume and a lower variance by placing on higher edges, games closer to game time, and stick to recommended leagues. By doing this, your account on each bookmaker will last a lot longer.
In our community, we've had users running through bookies, one by one. After signing up on a bookie, placing 200+ bets the first 24 hours, they're shut out, and that's that. Bookmakers are consistently trying to shut out winning players, and there are almost no losing players that put in that kind of volume, making you too easy to find and shut out.
I understand that signing up to many bookmakers and keeping track of the websites and money management is a bit tedious, but if you're here to make some serious money, it's definitely the way to go. Personally, I'm using a password manager called Dashlane to keep track of all the passwords in a secure way.
Goodluck and happy trading!
Before you start to make profits of a bookmaker it’s important to know how a bookmaker operates and makes money. Unless you know something that the bookmakers don’t they will always have the best of you in the long run.
If there is a game between to tennis players who are equally good. There will be a 50/50 chance of either of the players winning. Like a coin flip. You would think that odds should be 2.0 on each of the players. But the bookmaker is taking a cut of the odds to make a profit. The odds will be something like 1.91 on each of the players. On average the there will be an equal amount placed on each of the players. Let’s say there is placed a total of $10,000 on each of the players. The total amount wagered is $20,000. If player A wins the bookmaker have to pay out 1.91*$10,000 = $19,100 and the same if player B had won. Since the total amount wagered is $20,000 and the payout is $19,100 the bookmaker has a $900 profit on this bet. So no matter what the outcome of the game is the bookmaker wins.
Usually, the odds are not equal. But the point is the bookmakers is having a cut of the odds to make a profit. If you want to know how much, it’s a very easy way to find out. Let’s start with the bet above:
1/1.91 + 1/1.91 = 1,047=104.7%
This means they are taking a 4.7% cut of the bet.
Having a 4.7% is giving them a payout of 95.3%, the higher the payout the better the bookmaker(for you).
This can also be done with more than two outcomes.
Bayern Munchen vs Manchester City
Bayern Munchen 1.76
Manchester City 4.45
1/1.76 + 1/3.85 + 1/4.45 = 1.0526 = 105.26%
Resulting in a payout of 100%-5.26% = 94.74%
Before choosing to use a bookmaker be sure to check their payout. It may vary from league to league within the same bookmaker. the payout of a bookmaker can be everything from 80-99%.
This video covers the topic of how bookmakers make money more in-depth.