Many bettors believe that they are betting and playing against their bookie, but that is not true. Bookies are there to set the odds, take your bets and collect money from bets that have lost, but they are not enemies of the bettors. The impression that they are is false because their goals are not the same as bettors and that is why they are considered to be opponents although they are not. When you place your bet, your goal is to win and make money. On the other side, the goal of the bookie is not to win a bet, but to balance their books by making sure they accept opposing bets that will have equal value. Bookies make money through commissions, provisions and fees, not through losing or winning bets. Therefore, their views and goals are much different than the bettors’ perspective.
How Bookies and Punters Make Money
Punters make money by collecting winning bets. That is pure and simple. However, bookmakers make money differently. Ideal situation for bookmaker is when every bet that has been won by punters is matched by similar number of bets of equal value that have lost. In order for the bookmaker to balance the books they want to see equal number of winning and losing bets of same value. This is because they earn profits from commissions, so every time they have balanced books they are assured of earning profits of every bet that has been made. That is why you should not see the bookmaker as your enemy, because they have no specific interest in seeing you win or lose the bet. They just want to make sure that all money that they pay out for winners is equally matched by money that has been lost.
In order for the bookies to earn profits they are taking a lot of factors into consideration. They are setting the odds and point spreads in a way in which they will attract bets that will go on both ways. However, the odds they set must be reasonable and attractive for both sides. If the bookie sets unreasonable odds and has bad attitude towards bettors, then the bettors will lose interest and will go to bet with someone else. That is why bookies do everything they can do to attract bettors and keep their business running by providing free bets, deposit bonuses, etc. Bettors` main interest is to win money on the outcome of specific game, but bookmaker does not care who wins or loses as long as they make money from balancing their books.
Whether you win or lose as a bettor is up to your knowledge. Legit bookies will be happy to pay out huge sums on winning bets if at the same time they make money by losing bets, so they have no prejudice about winners and losers. This are the ways in which bookies and punters make money and how system works, so keep this in mind and have fun betting.
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