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nishaknapp02 · Veteran Member

What Is A Bookmaker?

wmwwmnxzsfug · Veteran Member

Romallier wrote:
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-- Edited by flygc on Thursday 5th of May 2022 12:14:02 PM

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-- Edited by wmwwmnxzsfug on Monday 16th of May 2022 01:23:45 PM

Romallier · Newbie

In India, there are a lot of prominent online gaming sites. Parimatch pmaffiliates.com/en/ is one of them. To get started in online gaming, Parimatch is an excellent choice. Additionally, the site's affiliate program offers a great opportunity to earn money while promoting it.

-- Edited by flygc on Thursday 5th of May 2022 12:14:02 PM

Date: Dec 25, 2021

I agree with you, bookmakers have been a proven way of earning money for a long time, the only thing that they are developing and improving now. For example, you can find promo codes or free coins csgo, which will give you the opportunity to get nice bonuses

-- Edited by flygc on Thursday 5th of May 2022 12:14:42 PM

fragatiosd · Member

Bookmakers are known since old times. They were just changing the form of their activities over time. Today, when almost everyone has access to Internet, you can reach any bookmaker in the world. I like betting sites that accept paypal. This type pf payment looks reliable to me as so must be the sites https://online-bookmakers.com/en/. And what type of payment do you prefer?

-- Edited by flygc on Thursday 5th of May 2022 12:15:45 PM

vfmoows · Member

Under normal circumstances the bookmaker is the only part in a bet that definitely comes out as a winner.

In order for the bookmakers to keep doing business they need to make bets that allow them to make money each time they offer a bet. Therefore, bookmakers don't set the odds just based on probabilities. They also incorporate a margin ensuring they earn a profit on each bet.

A Coin Toss Example

Let's take a basic coin toss for £100 as an example:

The outcome is either heads or tails, so it is a 50/50 chance. One person bets on heads and another on tails. No matter who wins, the bookmaker would have to pay out the £100, leaving no surplus for him.

That would be a rather bad business plan. So instead the bookie lowers the prize money.

Let's now say that the bookmaker lowers the payout to £90, instead of the fair £100. This is the equivalent of offering 1.90 odds instead of the fair 2.00. Since our two punters still wager the £100, the bookie will turn a profit whatever the outcome is, since he collects £100 from one punter and pays out £90 of those to the other punter, keeping £10 for himself.

This represents the bookie margin, also known as the commission, the “Vig” or “juice”, mostly in the US. And it is what makes betting such a challenge as you not only have to pick winners, but also do so at a rate of return that is greater than the bookmaker margin.

Beating the Margin

In other words, picking 5 winners out of 10 with each paying fair odds of 2.00 without any bookmaker commission would see you break even. However, receiving standard bookmaker odds of 1.90 with the 0.10 commission off of the fair odds of 2.00, picking 5 winners would see you make a loss of 5% on your total investment.