Subscribe     Feedback

Soccer Bets Stats:  FREE Profit (Label) | VIP Profit (Label) | VIP Advised Profit (Label)

Blog




 
Estimated Reading Time: 2 minutes

What bookies dont want you to know

We all keep secrets and so do the bookies. Find out the best way to maintain your bankroll and keep winning using your free prediction sites.



Published on
Updated on 22 November 2016
Author:



Betting Tips for Today's Football

Find more value in your next football bet. You could gain a betting edge by checking out the tips and stats for today's and tomorrow's fixtures...


It's easy. If the bookie has priced the favourite; why not put your money where the bookie has the most exposure? It should be the most logical choice, so you just need to find bookies with the higher priced favourites. It makes sense, right?

Possibly, but let's take a moment to deconstruct bookies and their odds, so we can shed more light on the bookies and what odds really mean.

If the bookie thinks they will win

First and foremost, the bookie uses stats, historical information and news from other sources. A lot of this information is within the public domain, but some may not be so easy to come by, particularly, if you're not in the know (or able to speak with someone in the know).

Anyway, the bookie will initially price the event based on the pre-event information and they will select a favourite, which is determined by the odds that we see on odds comparison sites.

The odds should reflect the real (or the bookie's perceived) chance of an outcome within a particular event, so when a bookie prices a football match, it should give you a real view of the chance of a home win, a draw or an away win.

Unfortunately, this is where the bookie changes the rules.

Bookie odds are not static

The bookies change their odds to take a little bit of your money no-matter if you win the bet or if you lose the bet and here's how the do it.

Let's take an English Premier League match between Arsenal (home team) and Southampton (away team). Where the average odds across a selection of bookmakers were given to us punters:

Arsenal: 1.81 | Draw: 3.57 | Southampton: 4.97

If we change the decimal odds above into percentages by dividing 1 by each of the decimal odds. This should give us the bookies percentage chance of each outcome:

Arsenal: 1 / 1.81 | Draw: 1 / 3.57 | Southampton: 1 / 4.97

or

Arsenal: 55.24% | Draw: 28.01% | Southampton: 20.12%

Now, if we add all of the percentages together we get 103.37% (i.e. 103.37 = 55.24 + 28.01 + 20.12), which is over 100%. Essentially, the bookies are saying that there is a greater than 100% chance of all of the outcomes occurring, which is obviously nonsense!

On average, the bookies will make 3.37% from all money placed on that particular football match. This doesn't sound like much, but consider the amount of money wagered against TV matches and the fact that bookies can increase this profit percentage when providing odds for less popular events or sports events in far off places where the information is not quite as easy to come by.

So, a favourite for a bookmaker is designed to draw punter money on each side of the bet. If a bookie feels like there is too much being wagered on one side, they simply adjust the odds and make another selection look more attractive by providing a higher pay-out. This is simply designed to even out the punter pay outs and ensure that bookies make more profits.

Look at all of the odds and not just your selection

The bookie is not too concerned with the actual outcome of the event. They're more concerned with balancing the money from punters on each side of the bet.

So, now you know how to look for bookies that will take more of your winnings. Stay well clear of the greedy bookies and focus on the low margin operators, because favourites win a lot less than you think they should!


Tags: Bookmakers, odds

Share Post On:    
Share on Facebook. Opens a new window    Share on Twitter. Opens a new window    Share on Google Plus. Opens a new window

Short URL: https://iwinsoccerbets.com/zVhNrVZhP

<< Previous Post
Top 3 soccer betting trends

Next Post >>
Do you trust your football tipster?

The 3 big trends that will affect your soccer betting today!Find out why your friendly soccer tipster may not always have your best interests at heart...

Related Blog Posts



Recent Blog Posts

 

Learn how to create a successful football betting plan?

(by iwinsoccerbets)   

Learn how to create the best football betting plan
- Updated: 13 November 2018 | betting strategy


Soccer betting system basics and the nil-nil betting system

(by iwinsoccerbets)   

Understand betting systems; bet against nil-nil (0-0) draws
- Updated: 12 November 2018 | betting strategy


What are the Differences Between Matched Betting and Arbitrage Betting?

(by iwinsoccerbets)   

Matched Betting vs Arbitrage Betting – who wins?
- Updated: 11 November 2018 | betting strategy


Casinos and bookmakers are similar; do not fall into their trap

(by iwinsoccerbets)   

Take control; how Casinos and bookmakers take your money
- Updated: 10 November 2018 | betting zone


What is hedging and why are hedge bets used in gambling?

(by iwinsoccerbets)   

What is hedging and how to perform hedge betting?
- Updated: 08 November 2018 | betting strategy


What is lay betting? Learn the lay bet basics

(by iwinsoccerbets)   

Learn lay betting basics and when to lay bet
- Updated: 04 November 2018 | betting strategy


How to find smart tips by following the smart money flows

(by iwinsoccerbets)   

Using smart tips from high-rollers to become a smarter punter
- Updated: 03 November 2018 | betting strategy


Is the Kelly Criterion the only viable option for your gambling stake?

(by iwinsoccerbets)   

Comparing the Kelly Criterion with other betting stake options
- Updated: 31 October 2018 | algorithms, bankroll


How to recognise the maths of football and football betting mathematics?

(by iwinsoccerbets)   

The differences between football betting formulas and football maths
- Updated: 31 October 2018 | algorithms


How to calculate winnings from betting odds and observed odds?

(by iwinsoccerbets)   

Calculating your winnings from bookmaker odds and observed odds
- Updated: 27 October 2018 | trends, odds


Become a professional trader using the Betfair betting exchange

(by iwinsoccerbets)   

How to become a Betfair exchange trading and value betting success?
- Updated: 24 October 2018 | betfair, membership


A newbie betting guide for football staking plans

(by iwinsoccerbets)   

Choose your next football staking plan with this betting guide
- Updated: 18 October 2018 | betting zone


How to create football betting systems and prediction models

(by iwinsoccerbets)   

Are betting systems and prediction models realistic?
- Updated: 16 October 2018 | trends, Model


What is a sure bet? How to find a sure bet from bookmaker odds

(by iwinsoccerbets)   

Learn how to check your sure bets and calculate them
- Updated: 15 October 2018 | betting tips and tricks


The Betfair Premium Charge; why it matters and what you can do about it?

(by iwinsoccerbets)   

Will the Betfair Premium Charge reduce your long-term profits?
- Updated: 14 October 2018 | betfair, odds


Is arbitrage betting legal? Does arbitrage betting work?

(by iwinsoccerbets)   

Are you breaking the law using arbitrage betting?
- Updated: 12 October 2018 | betting zone


Learn how to be a good punter without needing betting secrets

(by iwinsoccerbets)   

Learn how to become good at soccer betting using simple advice
- Updated: 09 October 2018 | betting zone


Top 20 rules of gambling and how to protect yourself from mistakes

(by iwinsoccerbets)   

Stay on track with the top 20 rules of betting
- Updated: 08 October 2018 | betting zone


What is form? How to use football betting form to decide your next wager

(by iwinsoccerbets)   

What does form mean in football and how to use it?
- Updated: 06 October 2018 | betting strategy


How to beat the bookies football betting; a former bookmaker’s view

(by iwinsoccerbets)   

Learn how to use football betting to beat the bookmaker
- Updated: 05 October 2018 | Bookmakers


Reduce your betting mistakes and make more from your soccer betting

(by iwinsoccerbets)   

Stop newbie betting mistakes and extend your bankroll
- Updated: 04 October 2018 | betting hints and tips


How to make a good bet and find good bets

(by iwinsoccerbets)   

What makes a good bet and how to find them
- Updated: 03 October 2018 | betting zone


How to win a bet on football

(by iwinsoccerbets)   

Step by Step: How to win a bet on Football
- Updated: 02 October 2018 | betting strategy


All you need to know about soccer betting stake, ROI yield

(by iwinsoccerbets)   

Everything you need to know about soccer betting wager, stake, ROI yield
- Updated: 26 September 2018 | betting zone


How do betting companies make money?

(by iwinsoccerbets)   

How do different betting companies make money from you?
- Updated: 22 September 2018 | Bookmakers


1234
×

Don't lose out on your FREE...

  • Soccer Tips and VIP Soccer Tips
  • Automated Soccer Predictions
  • Soccer Predictions for Today
  • Soccer Predictions for 1x2, Goals Over and more

Join using Social

Join  Join

Join using Email

I'm already a Member!


No. I do not want to join and I do not want FREE predictions
×