{"id":7998,"date":"2021-10-22T17:05:43","date_gmt":"2021-10-22T11:35:43","guid":{"rendered":"http:\/\/46.101.57.149\/?p=7998"},"modified":"2022-05-18T17:33:00","modified_gmt":"2022-05-18T12:03:00","slug":"how-do-bookies-make-money","status":"publish","type":"post","link":"https:\/\/www.spinsvilla.com\/how-do-bookies-make-money\/","title":{"rendered":"How Do Bookies Make Money?"},"content":{"rendered":"\n<figure class=\"wp-block-image size-full\"><img width=\"870\" height=\"400\" src=\"https:\/\/www.spinsvilla.com\/wp-content\/uploads\/2021\/10\/h.jpg\" alt=\"how do bookies make money\" class=\"wp-image-8002\" srcset=\"https:\/\/www.spinsvilla.com\/wp-content\/uploads\/2021\/10\/h.jpg 870w, https:\/\/www.spinsvilla.com\/wp-content\/uploads\/2021\/10\/h-300x138.jpg 300w, https:\/\/www.spinsvilla.com\/wp-content\/uploads\/2021\/10\/h-768x353.jpg 768w, https:\/\/www.spinsvilla.com\/wp-content\/uploads\/2021\/10\/h-87x40.jpg 87w, https:\/\/www.spinsvilla.com\/wp-content\/uploads\/2021\/10\/h-70x32.jpg 70w, https:\/\/www.spinsvilla.com\/wp-content\/uploads\/2021\/10\/h-174x80.jpg 174w, https:\/\/www.spinsvilla.com\/wp-content\/uploads\/2021\/10\/h-294x135.jpg 294w\" sizes=\"(max-width: 870px) 100vw, 870px\" \/><\/figure>\n\n\n\n<p>Bookmakers or bookies are essentially your opponents when you bet on a cricket match or a horse race. In India, you may find bookies:<\/p>\n\n\n\n<ul><li><strong>Online, at a sports betting site<\/strong><\/li><li>Near a racecourse&nbsp;&nbsp;<\/li><\/ul>\n\n\n\n<p>When you bet on who will win a match or whether the next ball will be a runout, your winnings depend on the results but also on the terms that the bookie sets. We&#8217;ll look at how this happens in greater detail below.&nbsp;<\/p>\n\n\n\n<h2>To start with, a bookie is the person who:&nbsp;<\/h2>\n\n\n\n<ul><li>sets the odds in a bet<\/li><li>accepts your bet&nbsp;<\/li><li>places your bet for you,&nbsp;<\/li><li>and pays out your winnings.&nbsp;<\/li><\/ul>\n\n\n\n<p>When you bet online at a website, there are bookies behind the scenes doing all the things a human bookie would do. There are experts behind the scenes of the betting site just as at a racecourse. <\/p>\n\n\n\n<p>These people can&#8217;t control the outcomes of matches. But they can control how much they stand to win or to lose on each outcome. <\/p>\n\n\n\n<p>They always make it so they are at an advantage against bettors. Let&#8217;s take a look at how this works.&nbsp;<\/p>\n\n\n\n<h2>How do bookies make their money?&nbsp;<\/h2>\n\n\n\n<p>Bookies make money:&nbsp;<\/p>\n\n\n\n<ul><li>because most people place bad bets or,&nbsp;<\/li><li>don&#8217;t understand how to overcome the <em>bookie&#8217;s advantage<\/em>.&nbsp;<\/li><\/ul>\n\n\n\n<p>Knowing how bookies set their advantage will help you overcome this advantage.<\/p>\n\n\n\n<p>Bookies don&#8217;t place bets themselves. They are able to earn because they try to pay out less than they take in. <\/p>\n\n\n\n<p>In other words, they try to maintain a balance in the books by <strong><em><a href=\"https:\/\/www.spinsvilla.com\/betting-odds-learn-how-to-read-betting-odds\/\">adjusting the odds<\/a><\/em> <\/strong>such that there\u2019s an even number of people betting on a loss or a win.&nbsp;<\/p>\n\n\n\n<p>How do they do this? Very simply &#8211; by pricing the bets they accept from you in a way that gives them an advantage. Their pricing doesn\u2019t reflect the true odds of the outcome.&nbsp;<\/p>\n\n\n\n<p>Let&#8217;s look at a simple illustration to understand the <strong><em>bookie&#8217;s margin<\/em>.<\/strong> The bookie&#8217;s margin is, in a way, the commission they charge for the service of placing your bet.&nbsp;<\/p>\n\n\n\n<p>If you know how they price the margin, you can recognize when bookies are offering poor value in the <a href=\"https:\/\/www.spinsvilla.com\/betting\/best-betting-exchange-sites-in-india\/\">betting exchange<\/a>. You can then turn your knowledge to your advantage and earn profits.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img width=\"1024\" height=\"683\" src=\"https:\/\/www.spinsvilla.com\/wp-content\/uploads\/2021\/10\/image-1024x683.jpeg\" alt=\"Bookies Make Money\" class=\"wp-image-8051\" srcset=\"https:\/\/www.spinsvilla.com\/wp-content\/uploads\/2021\/10\/image-1024x683.jpeg 1024w, https:\/\/www.spinsvilla.com\/wp-content\/uploads\/2021\/10\/image-300x200.jpeg 300w, https:\/\/www.spinsvilla.com\/wp-content\/uploads\/2021\/10\/image-768x512.jpeg 768w, https:\/\/www.spinsvilla.com\/wp-content\/uploads\/2021\/10\/image-1536x1024.jpeg 1536w, https:\/\/www.spinsvilla.com\/wp-content\/uploads\/2021\/10\/image-60x40.jpeg 60w, https:\/\/www.spinsvilla.com\/wp-content\/uploads\/2021\/10\/image-48x32.jpeg 48w, https:\/\/www.spinsvilla.com\/wp-content\/uploads\/2021\/10\/image-120x80.jpeg 120w, https:\/\/www.spinsvilla.com\/wp-content\/uploads\/2021\/10\/image-202x135.jpeg 202w, https:\/\/www.spinsvilla.com\/wp-content\/uploads\/2021\/10\/image.jpeg 1600w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<h2>A simple illustration of bookie&#8217;s margins&nbsp;<\/h2>\n\n\n\n<p>To understand bookmakers\u2019 margins, let\u2019s take the simple case of a coin toss. When you toss a coin, what&#8217;s the chance it will land either on Head or on Tails?&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td><strong>Coin toss outcome<\/strong><\/td><td><strong>Probability<\/strong><\/td><\/tr><tr><td>Heads&nbsp;<\/td><td>\u00bd or 50%&nbsp;<\/td><\/tr><tr><td>Tails&nbsp;<\/td><td>\u00bd or 50 %<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p>There are only two possible outcomes for every coin toss and each outcome is equally likely.&nbsp;<\/p>\n\n\n\n<p><strong>So, the chance of either Heads or Tails is 1:2.<\/strong><\/p>\n\n\n\n<p>If a bookie was a fair bookie offering even money on <em>true odds, <\/em>he&#8217;d be offering odds of 2.0 in decimals or 1:1 in fractions. Let&#8217;s take a look at what this means with a scenario.&nbsp;<\/p>\n\n\n\n<p>Supposing he takes 100 bets on a coin toss and everyone bets a rupee. Here&#8217;s what will happen:<\/p>\n\n\n\n<ul><li>50 people will bet Heads&nbsp;<\/li><li>50 people will bet Tails<\/li><\/ul>\n\n\n\n<p><strong><em>The bookie will not earn anything.<\/em>&nbsp;<\/strong><\/p>\n\n\n\n<p>He would have to pay the first 50 betters a total of fifty rupees (their total initial bet) plus 50 rupees profit. He would earn fifty rupees from the second group, but this money would go as profits to the first group.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img src=\"https:\/\/lh5.googleusercontent.com\/kGSyZHPmlgQW01C5w5AXQlunky8mlyV1xzs9tGhNN_VM0YYROWipCYQ5Q-DXX1DszqG0hlTTL5xOgdmK7qA0Ut9oJR5Wbp4LzT_WtSX97mPPwdcVt7khO30IeZ7RKxSLqwVyvKs=s1600\" alt=\"bookie's margins\"\/><\/figure>\n\n\n\n<p>This is not ideal for the bookie. Let&#8217;s see what the bookie will do instead.&nbsp;<\/p>\n\n\n\n<p>The bookmaker always wants to have a mathematical advantage over you. So <strong>they will offer lower odds than what they believe the true probabilities are.&nbsp;<\/strong><\/p>\n\n\n\n<p>The <em>bookmaker\u2019s margin<\/em> is how much the price they are offering deviates from what the \u2018true odds\u2019.&nbsp;<\/p>\n\n\n\n<p>In the above example, the interested bookie would offer bets at odds below 2. It&#8217;s common to offer odds of 1.91 in decimals or 10\/11 in fractions, when two outcomes are equally likely.&nbsp;<\/p>\n\n\n\n<p>So, for every 1 rupee you bet, you earn 1.91 rupees on winning, not 2 rupees.&nbsp;<\/p>\n\n\n\n<p>Let&#8217;s see what that means for the bookmaker taking 100 bets of one rupee each. As before,&nbsp;<\/p>\n\n\n\n<ul><li>50 people bet on Heads<\/li><li>50 people bet on Tails&nbsp;<\/li><\/ul>\n\n\n\n<p>The bookie earns a total of 50 rupees from the second group if the outcome of the toss is Heads. But he doesn&#8217;t have to pay 50 + 50 rupees to the first group. He pays them 50 rupees for their initial stakes plus 1.91 x 50 = 95.5 rupees.&nbsp;<\/p>\n\n\n\n<p>So for every 100 rupees the bookie takes in a coin toss, he earns 4.5 rupees. In other words, 4.5% is his profit margin on every bet.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img width=\"1024\" height=\"589\" src=\"https:\/\/www.spinsvilla.com\/wp-content\/uploads\/2021\/10\/image-1-1024x589.jpeg\" alt=\"bookie's margins\" class=\"wp-image-8052\" srcset=\"https:\/\/www.spinsvilla.com\/wp-content\/uploads\/2021\/10\/image-1-1024x589.jpeg 1024w, https:\/\/www.spinsvilla.com\/wp-content\/uploads\/2021\/10\/image-1-300x173.jpeg 300w, https:\/\/www.spinsvilla.com\/wp-content\/uploads\/2021\/10\/image-1-768x442.jpeg 768w, https:\/\/www.spinsvilla.com\/wp-content\/uploads\/2021\/10\/image-1-1536x884.jpeg 1536w, https:\/\/www.spinsvilla.com\/wp-content\/uploads\/2021\/10\/image-1-69x40.jpeg 69w, https:\/\/www.spinsvilla.com\/wp-content\/uploads\/2021\/10\/image-1-56x32.jpeg 56w, https:\/\/www.spinsvilla.com\/wp-content\/uploads\/2021\/10\/image-1-139x80.jpeg 139w, https:\/\/www.spinsvilla.com\/wp-content\/uploads\/2021\/10\/image-1-235x135.jpeg 235w, https:\/\/www.spinsvilla.com\/wp-content\/uploads\/2021\/10\/image-1.jpeg 1600w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>This simple example should explain the concept of odds. How bookies set the odds on a real match where two outcomes aren&#8217;t equally likely is more complex.&nbsp;<\/p>\n\n\n\n<h2>How do bookies come up with odds in a real game?<\/h2>\n\n\n\n<p>Many free online services will allow you to compare the odds offered by different bookmakers. How do they calculate the odds?&nbsp;<\/p>\n\n\n\n<p>Some bookmakers have in-house experts who look at a number of factors that could affect the probabilities of a team winning, such as:<\/p>\n\n\n\n<ul><li>lineups,&nbsp;<\/li><li>league positions,&nbsp;<\/li><li>recent performances,&nbsp;<\/li><li>losing or winning streaks.&nbsp;<\/li><\/ul>\n\n\n\n<p>It needs a combination of statistics and sports knowledge to calculate the odds.&nbsp;<\/p>\n\n\n\n<p><strong>The experts will help the bookie&#8217;s to:<\/strong><\/p>\n\n\n\n<ul><li>Set their odds&nbsp;<\/li><li>Balance their books&nbsp;<\/li><\/ul>\n\n\n\n<figure class=\"wp-block-image size-large\"><img width=\"1024\" height=\"682\" src=\"https:\/\/www.spinsvilla.com\/wp-content\/uploads\/2021\/10\/image-2-1024x682.jpeg\" alt=\"odds in a real game\" class=\"wp-image-8053\" srcset=\"https:\/\/www.spinsvilla.com\/wp-content\/uploads\/2021\/10\/image-2-1024x682.jpeg 1024w, https:\/\/www.spinsvilla.com\/wp-content\/uploads\/2021\/10\/image-2-300x200.jpeg 300w, https:\/\/www.spinsvilla.com\/wp-content\/uploads\/2021\/10\/image-2-768x512.jpeg 768w, https:\/\/www.spinsvilla.com\/wp-content\/uploads\/2021\/10\/image-2-1536x1023.jpeg 1536w, https:\/\/www.spinsvilla.com\/wp-content\/uploads\/2021\/10\/image-2-60x40.jpeg 60w, https:\/\/www.spinsvilla.com\/wp-content\/uploads\/2021\/10\/image-2-48x32.jpeg 48w, https:\/\/www.spinsvilla.com\/wp-content\/uploads\/2021\/10\/image-2-120x80.jpeg 120w, https:\/\/www.spinsvilla.com\/wp-content\/uploads\/2021\/10\/image-2-203x135.jpeg 203w, https:\/\/www.spinsvilla.com\/wp-content\/uploads\/2021\/10\/image-2.jpeg 1600w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<h3>Setting odds&nbsp;<\/h3>\n\n\n\n<p>Let&#8217;s look at a more real-world example to calculate odds. How about a tennis match between two players with very similar abilities, like Novak Djokovic and Daniil Medvedev? The bookie&#8217;s experts will consider their current form, their past performance on the type of court they&#8217;re playing on as well as their past performances against each other.&nbsp;<\/p>\n\n\n\n<p>They may decide Djokovic has around 60% chance of winning the match and Medvedev 40%. The odds that reflect these chances are around 1.67 for Djokovic and 2.50 for Medvedev. Now the experts will have to calculate the bookie&#8217;s margins.&nbsp;<\/p>\n\n\n\n<p>Let&#8217;s assume here the bookies add a margin of 5 %. To do so, they will reduce the odds for each player by 5%. This would mean odds of:<\/p>\n\n\n\n<ul><li>1.59 for Djokovic&nbsp;<\/li><li>2.38 for Medvedev<\/li><\/ul>\n\n\n\n<p>To calculate the bookie&#8217;s margin, there are several formulas. One simple model is to add the inverse of odds for all possible outcomes and write it as a percentage. In the above game, there are 2 possible outcomes, so the bookie&#8217;s margin will be:<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img width=\"1024\" height=\"265\" src=\"https:\/\/www.spinsvilla.com\/wp-content\/uploads\/2021\/10\/image-4-1024x265.jpeg\" alt=\"Setting odds \" class=\"wp-image-8056\" srcset=\"https:\/\/www.spinsvilla.com\/wp-content\/uploads\/2021\/10\/image-4-1024x265.jpeg 1024w, https:\/\/www.spinsvilla.com\/wp-content\/uploads\/2021\/10\/image-4-300x78.jpeg 300w, https:\/\/www.spinsvilla.com\/wp-content\/uploads\/2021\/10\/image-4-768x199.jpeg 768w, https:\/\/www.spinsvilla.com\/wp-content\/uploads\/2021\/10\/image-4-1536x397.jpeg 1536w, https:\/\/www.spinsvilla.com\/wp-content\/uploads\/2021\/10\/image-4-155x40.jpeg 155w, https:\/\/www.spinsvilla.com\/wp-content\/uploads\/2021\/10\/image-4-124x32.jpeg 124w, https:\/\/www.spinsvilla.com\/wp-content\/uploads\/2021\/10\/image-4-309x80.jpeg 309w, https:\/\/www.spinsvilla.com\/wp-content\/uploads\/2021\/10\/image-4-522x135.jpeg 522w, https:\/\/www.spinsvilla.com\/wp-content\/uploads\/2021\/10\/image-4.jpeg 1600w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><figcaption>Setting odds&nbsp;<\/figcaption><\/figure>\n\n\n\n<p>It is clear that the expert has achieved a margin of 5%.<\/p>\n\n\n\n<p>But this is not the end.&nbsp;<\/p>\n\n\n\n<h3>Balancing the books&nbsp;<\/h3>\n\n\n\n<p>The bookie&#8217;s expert will also usually try to help the bookie maintain a balanced book. What does that mean?&nbsp;<\/p>\n\n\n\n<p>In the tennis match above, for instance, here&#8217;s what a balanced book might look like if the bookie took in a total of 100 one-rupee bets.<\/p>\n\n\n\n<p>Total bets on Djokovic (at 1.59) = 60 rupees&nbsp;<\/p>\n\n\n\n<p>Total bets on Medvedev (at 2.38) = 40 rupees&nbsp;<\/p>\n\n\n\n<p>Let&#8217;s assume the target of 5% margin.&nbsp;<\/p>\n\n\n\n<p>If Djokovic wins, the bookie pays out 95.4 rupees and profits 4.60 rupees.&nbsp;<\/p>\n\n\n\n<p>If Medvedev wins, he pays out 95.2 rupees and profits 4.80 rupees.&nbsp;<\/p>\n\n\n\n<p>With either outcome and a balanced book, the bookie wins roughly 5 rupees.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img width=\"1024\" height=\"595\" src=\"https:\/\/www.spinsvilla.com\/wp-content\/uploads\/2021\/10\/image-3-1024x595.jpeg\" alt=\"Balancing the books \" class=\"wp-image-8055\" srcset=\"https:\/\/www.spinsvilla.com\/wp-content\/uploads\/2021\/10\/image-3-1024x595.jpeg 1024w, https:\/\/www.spinsvilla.com\/wp-content\/uploads\/2021\/10\/image-3-300x174.jpeg 300w, https:\/\/www.spinsvilla.com\/wp-content\/uploads\/2021\/10\/image-3-768x446.jpeg 768w, https:\/\/www.spinsvilla.com\/wp-content\/uploads\/2021\/10\/image-3-1536x893.jpeg 1536w, https:\/\/www.spinsvilla.com\/wp-content\/uploads\/2021\/10\/image-3-69x40.jpeg 69w, https:\/\/www.spinsvilla.com\/wp-content\/uploads\/2021\/10\/image-3-55x32.jpeg 55w, https:\/\/www.spinsvilla.com\/wp-content\/uploads\/2021\/10\/image-3-138x80.jpeg 138w, https:\/\/www.spinsvilla.com\/wp-content\/uploads\/2021\/10\/image-3-232x135.jpeg 232w, https:\/\/www.spinsvilla.com\/wp-content\/uploads\/2021\/10\/image-3.jpeg 1600w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><figcaption>Balancing the books&nbsp;<\/figcaption><\/figure>\n\n\n\n<p>What does an imbalanced book look like? Here&#8217;s what happens if the total bets were spread across both players evenly.&nbsp;<\/p>\n\n\n\n<p>Total bets on Djokovic (at 1.59) = 50 rupees&nbsp;<\/p>\n\n\n\n<p>Total bets on Medvedev (at 2.38) = 50 rupees&nbsp;<\/p>\n\n\n\n<p>Let&#8217;s assume a target margin of 5% again.&nbsp;<\/p>\n\n\n\n<p>In this scenario, if Djokovic wins, the bookie pays out 79.5 rupees and profits 20.5 rupees.&nbsp;<\/p>\n\n\n\n<p>If Medvedev wins, the bookie pays out 119 rupees and loses 19 rupees.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img width=\"1024\" height=\"767\" src=\"https:\/\/www.spinsvilla.com\/wp-content\/uploads\/2021\/10\/image-63-1024x767.png\" alt=\"Balancing the books \" class=\"wp-image-8054\" srcset=\"https:\/\/www.spinsvilla.com\/wp-content\/uploads\/2021\/10\/image-63-1024x767.png 1024w, https:\/\/www.spinsvilla.com\/wp-content\/uploads\/2021\/10\/image-63-300x225.png 300w, https:\/\/www.spinsvilla.com\/wp-content\/uploads\/2021\/10\/image-63-768x576.png 768w, https:\/\/www.spinsvilla.com\/wp-content\/uploads\/2021\/10\/image-63-1536x1151.png 1536w, https:\/\/www.spinsvilla.com\/wp-content\/uploads\/2021\/10\/image-63-53x40.png 53w, https:\/\/www.spinsvilla.com\/wp-content\/uploads\/2021\/10\/image-63-450x338.png 450w, https:\/\/www.spinsvilla.com\/wp-content\/uploads\/2021\/10\/image-63-900x675.png 900w, https:\/\/www.spinsvilla.com\/wp-content\/uploads\/2021\/10\/image-63-43x32.png 43w, https:\/\/www.spinsvilla.com\/wp-content\/uploads\/2021\/10\/image-63-107x80.png 107w, https:\/\/www.spinsvilla.com\/wp-content\/uploads\/2021\/10\/image-63-180x135.png 180w, https:\/\/www.spinsvilla.com\/wp-content\/uploads\/2021\/10\/image-63.png 1600w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><figcaption>Balancing the books&nbsp;<\/figcaption><\/figure>\n\n\n\n<p>This is the scenario that the bookie wants to avoid.&nbsp;<\/p>\n\n\n\n<p>This is also exactly why the odds change continually on sports events. The bookie&#8217;s experts are continuously trying to balance the books.&nbsp;<\/p>\n\n\n\n<p>In the scenario above, they could reduce the odds on Medvedev to discourage bets on his wins and increase the odds on Djokovic.&nbsp;<\/p>\n\n\n\n<p>Also, it&#8217;s easy to see why the volume of bettors matters to bookies. The greater the volume, the better the chances of a balanced book.&nbsp;<\/p>\n\n\n\n<h2>Know how to calculate betting margins<\/h2>\n\n\n\n<p>Here are a few other things to keep in mind the next time you&#8217;re sports betting:<\/p>\n\n\n\n<ul><li>The higher the margin, the lower the value for the bettor.&nbsp;<\/li><li>Live-betting margins are higher than pre-match margins.&nbsp;<\/li><li>It is helpful to know that in Asia, the operating models bookies follow are slightly different from European betting markets. Bookies here tend to operate with higher odds and lower margins. But they have high turnovers, which allows them to make profits.&nbsp;<\/li><li>Maximum stakes in Asian sports betting also tend to be higher.&nbsp;<\/li><li>Asian bookies tend to change odds often.&nbsp;<\/li><\/ul>\n\n\n\n<p>Once you know how to calculate odds, you can compare bookmakers for yourself and find the best odds and lowest margins for an event to bet on.\u00a0<\/p>\n\n\n\n<p>Margin calculations will be different depending on whether it\u2019s a two-way event, like tennis, or a 1&#215;2 event like On <a href=\"https:\/\/www.spinsvilla.com\/cricket-betting-sites\/\">Online cricket Betting sites<\/a>.&nbsp;<\/p>\n\n\n\n<p>Also remember, formulae to calculate margins for events like cricket will be slightly different from that of tennis matches.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img src=\"https:\/\/lh6.googleusercontent.com\/Nvvp01_fSH3XB-ILnHwoSx2fwjCKNrMfrRgjlt4iw82uWUfugUu7g0uzvtdc0JJZbjcLje2LAcEvAHa9-CHKb6vxgvuJgSeDYKGOIbjSd3N_a4BwqzUeqy7XXgTJorogIXzf2Js=s1600\" alt=\"bookies make money by pitch-siding or court-siding  \"\/><\/figure>\n\n\n\n<h2>How bookies make money by pitch-siding or court-siding&nbsp;&nbsp;<\/h2>\n\n\n\n<p>Sometimes in live betting, bookies are able to avoid paying out to bettors who would have won, keeping the money they bet. They do this by something called court-siding or pitch-siding.&nbsp;<\/p>\n\n\n\n<ol><li>They plant insiders at a sports venue. These people take advantage of the lag between an event &#8211; such as a sixer on the 23rd ball &#8211; and the moment when people see it on TV or an online scoreboard.<\/li><li>There may be a lag of as much as 20 seconds between the event and its televising or online updating. The insider calls the bookie in that window.&nbsp;<\/li><li>The bookie then rejects all bets that bet on a sixer on the 23rd ball and accepts all the other losing bets. He doesn&#8217;t have to pay the bettors who bet on the sixer, because their bets weren&#8217;t registered.&nbsp;<\/li><\/ol>\n\n\n\n<p>In this way, the bookie is able to game the system and make money.&nbsp;<\/p>\n\n\n\n<h4>Conclusion<\/h4>\n\n\n\n<p>Bookies in India are driven by the market, so they\u2019ll constantly be changing the odds to balance the books. Once you realize this and learn how to calculate the betting margins, you\u2019ll find it easier to override the edge that bookies have over you. You\u2019ll be able to find out if the odds offered are mis-priced when compared to the true probability.\u00a0<\/p>\n\n\n\n<p>This will allow you to place a value bet that will overcome the bookmaker\u2019s margin. You\u2019ll know where the best value lies and where you should place your bets.<\/p>\n\n\n\n<p><strong>Also Read Our Review on<\/strong><\/p>\n\n\n\n<ul><li><a href=\"https:\/\/www.spinsvilla.com\/casino\/rajbet-india-review\/\">Rajbet Review<\/a><\/li><li><a href=\"https:\/\/www.spinsvilla.com\/casino\/12bet-india-review\/\">12Bet Review<\/a><\/li><li><a href=\"https:\/\/www.spinsvilla.com\/casino\/casinoin-india-review\/\">Casinoin Review<\/a><\/li><\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Bookmakers or bookies are essentially your opponents when you bet on a cricket match or a horse race. In India, you may find bookies: Online, at a sports betting site Near a racecourse&nbsp;&nbsp; When you bet on who will win a match or whether the next ball will be a runout, your winnings depend on [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":8002,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[263],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>How Do Bookies Make Money? Spinsvilla<\/title>\n<meta name=\"description\" content=\"How Do Bookmakers Make Money? Bookmakers always make money in the long run. 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or bookies are essentially your opponents when you bet on a cricket match or a horse race. In India, you may find bookies: Online, at a sports betting site Near a racecourse&nbsp;&nbsp; When you bet on who will win a match or whether the next ball will be a runout, your winnings depend on&hellip;","_links":{"self":[{"href":"https:\/\/www.spinsvilla.com\/wp-json\/wp\/v2\/posts\/7998"}],"collection":[{"href":"https:\/\/www.spinsvilla.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.spinsvilla.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.spinsvilla.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.spinsvilla.com\/wp-json\/wp\/v2\/comments?post=7998"}],"version-history":[{"count":12,"href":"https:\/\/www.spinsvilla.com\/wp-json\/wp\/v2\/posts\/7998\/revisions"}],"predecessor-version":[{"id":11674,"href":"https:\/\/www.spinsvilla.com\/wp-json\/wp\/v2\/posts\/7998\/revisions\/11674"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.spinsvilla.com\/wp-json\/wp\/v2\/media\/8002"}],"wp:attachment":[{"href":"https:\/\/www.spinsvilla.com\/wp-json\/wp\/v2\/media?parent=7998"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.spinsvilla.com\/wp-json\/wp\/v2\/categories?post=7998"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.spinsvilla.com\/wp-json\/wp\/v2\/tags?post=7998"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}