5 Secrets Bookmakers Don’t Want You to Know About the Betting Industry
All of the devious and unethical activities that bookmakers are able to get away with are what keep the entire sports betting industry afloat. Each week, huge amounts of money are staked in the betting market. However, the biggest share of this amount goes to the bookmakers and the casual bettors earn almost nothing in comparison.
Most bookmakers don’t want their clients to be aware of how the betting industry works. In this article, we will let you know the 5 secrets bookmakers don’t want you to know about the betting industry.
#1 How Bookmakers Make Money
A bookmaker does not have control over the result of a match; however, they do have power over how much money they can gain or lose on any conclusion by taking in more money than they are required to give out.
A bookmaker’s goal is to take in a variety of bets at various odds in order to make a profit no matter what is the outcome of the event. For this, they create odds that are not only based on probability but also contain a margin to assure that they generate revenue on every bet they place. In practically every bet, bookmakers modify the odds somewhat.
If both the home and away teams have an equal probability of winning, the actual odds must be half or, 2 to 1. The bookmaker can enhance their per-bet revenue by altering it to 1.9 to 1. This ensures that every dollar a bettor spends on betting generates a profit for them. That’s how bookmakers assure a guaranteed profit on every bet by adjusting the lines.
#2 Winners Get Limited
If you place a lot of bets online and consistently win more than you lose, your betting account may be restricted or even banned. Bookmakers limit and close accounts to ensure that they are not tampered with. It enables them to prevent individuals from taking advantage of special offers and odds in order to profit from matched betting, arbitrage, and other types of betting.
But sometimes many bookmakers take advantage of this reasoning solely to increase their profit margins. They simply don’t want to lose too much on a bettor and also want to get rid of the players who get acquainted with how to win frequently.
#3 Accumulator Bets Are Not Good for Bettors
The majority of unreliable yet lucrative offers run by bookmakers revolve around accumulator bets. Most bookmakers are now providing bonuses of 10%, 20%, 30%, or even 100% when you win an accumulator. This is where the majority of their revenue is generated!
Accumulator bets are a sequence of bets that require the bettor to check a large number of boxes. As an example, consider supporting six different choices in a series of bets. If you manage to catch all six in the perfect order, which has the little possibility, you have the chance to win all the money. If you lose even one of those six bets, the deal is off and the entire stake is gone.
So, you might see some stories over the internet to win plenty of money from the accumulator bets, but the actual percentage is very low in comparison to the total accumulators placed every day. Bookmakers are still making revenues from this type of bet and continuing to encourage you to play such bets.
#4 Bookmakers Want You to Be Loyal to Their Site
In every type of business, the owners don’t like to have many competitors. When it comes to competition, bookmakers are in the same boat as the rest of the businesses. They don’t want other bookmakers to provide their services to you and want to bind you only to their service.
Bettors benefit from competition, while bookmakers suffer. Local bookmakers have a customer base of those who can’t or won’t gamble somewhere else. Many consumers are reluctant to put online bets. The local bookie has the power to set the lines, and the majority of their clients are bound to bet with them or not at all.
You can look for the best odds and the lowest vigorish when there are several options to place bets. Since bookmakers must compete for your activity with others in their market, they must establish competitive lines and provide competitive vigorish.
#5 Bookmakers Track and Share Your Data
Bookmakers use a variety of intrusive technologies to monitor your activity. Some bookmakers track your IP address and claim to do so to determine if you have multiple accounts. However, this is unnecessary as nearly every bookmaker has anti-cheating services enabled to their platform.
So, they can’t stop themselves from putting them to other uses such as selling your personal data to advertisers via a digital footprint or selling your information to numerous banks and credit agencies, or anywhere else where they can generate commissions. Even they can share information about distinct customers and their activities across multiple competitors.
These 5 secrets bookmakers don’t want you to know about the betting industry assist you in understanding the proper functioning of the betting industry so that you can use this knowledge to become a more successful sports bettor.
Although, there are some sportsbooks that go out of their way to take care of their clients. But, the best way to avoid getting tricked by the bookmakers is using a betting exchange such as BetInAsia. It offers 0.1% cashback on every bet placed via BetInAsia if you create your account through BestBettingAgents. You can also find some other top-rated betting exchanges on BestBettingAgents.
