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The Sports Books Are Not The Enemy
If you are new to sports betting or a seasoned professional, then you know that making money from this endeavor can be a difficult task.Before you get started, knowing what you are up against can make that task somewhat more easy and profitable.
There is a misunderstanding in the sports betting world that we are all trying to “Beat the Bookie”, but in reality the online sports books are not the enemy at all.They just offer a safe and secure method for the general public to place their bets and they take a small percentage of all of the action as a service fee called the juice or vig (Usually 10 percent).The sportsbooks goal is to have equal amounts of money on both sides of a game.The outcome of the game is not important to them as they get to keep 10% just for accepting the bets.
For this example we will use the standard odds of 11/10 that are used primarily on football and basketball wagers.What this means is that you need to wager $11 to win $10 or $110 to win $100.Here is how it works.
Let’s say that the New York Jets are playing the New England Patriots this season and the Patriots are favored by 7 points.So if you wanted to bet on the NY Jets +7 pts then you would have to wager $110 with a opportunity to win $100.If you wanted to bet on the NE Patriots -7 you would have to bet the exact same amounts.So here is how the online sports books make their money.If they managed to do their jobs correctly they should have had the same amount of bets on both the NY Jets and the Patriots.
Group A – 1000 people bet on the Jets + 7 for a total of $110,000.
Group B – 1000 people bet on the Patriots -7 for a total of $110,000.
Now let’s say the Patriots win the game by 10 pts and cover the spread making all of the Group B winners.So what happens is that the losing Group A bets of $110,000 are used to pay off the Group B winning Bets of $100,000 leaving the sportsbook with a cool 10K of profits.Pretty nice payout for about 3 hrs of work don’t you think?Multiply this by the numerous games per day and you can clearly see that the sports books make a lot of cash.
As you can clearly see the sportsbooks are not the enemy.It’s the lines makers that you need to beat and with a little discipline, proper bankroll management and a proven sports betting system it’s a number that can be beat.
If you would like to learn more about how to be profitable at sports betting, then please grab a copy of my Free ebook : “Sports Investing Secrets – How to Turn $1,000 into $1,024,000 in Less Than 5 Years Betting on Sports” at my website http://www.1stopsportsinvestors.com.
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