Revealed: Inside Secrets Of Bookmakers

Love or hate them, bookmakers provide a valuable function in the sports betting world. Recall that at its most simplest, all that a bookmaker does is take money (the wagers) on a variety of different outcomes in an event typically a sports event, but note that there are wagering options on all sorts of events these days. Then the bookmaker pays out the winners and keeps the remainder as the bookmaker’s profit.

Sounds simple when it is put that way does it not? Yet there is a lot that goes on behind the scenes that the bookmaker has to do to stay in business. Remember that in a perfect world (from the bookmaker’s perspective all of the sports bets would be balanced so that there is a profit no matter what happens in the event. To do that, the bookmaker will adjust the odds up or down as more wagers come in and new information arrives.

The question you may well be asking at this point is how does the bookmaker know where to set the odds. Obviously there is no crystal ball for him to peer into and most likely his second cousin is not a psychic. What does he do?

What you don’t see is that the bookmaker will then reach out to what can be best described as odds compilers. These odds compilers take a close look at all of the information that could possibly be found. Then this information is pored over, its analyzed and dissected until the odds compiler feels comfortable setting an odd.

Also, be aware that help set their odds, the typical bookmaker out there will oftentimes apply factors that you may not have considered. For example, if a particular event is expected to receive more or less support, the odds will be adjusted to take note of that. Some odds compilers even consult the betting exchanges before settling on a number they feel is right for the vent. Now do note that the odds compiler does not do this sort of thing for free. Nope, the odds compiler actually works to certain profit margins.

At the same time, understand that the odds compiler has other compilers doing the same thing at the same time. That explains why you will see different odds by different bookmakers for the exact same event.

As you can see, the bookmaker is but the face you see when you place your sports bet. Behind the scenes, there is a lot going on before you see the odds that are posted.

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