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A lot of people have a misconception of how online sportsbooks make money. Many think that bookies make money when you lose and they lose money when you win. This is not how it works. To better comprehend the situation, think about the of the entire situation on a given wager for the betting site. They accept stakes on all potential outcomes for a given event. Their goal is to make a little bit of money on each event, no matter the outcome of that event.
For this to happen, each bookie sets their betting odds in an effort to balance out the overall potential payouts for all outcomes for which they have accepted stakes. When lots of wagers come in on one outcome of an event, they will subsequently lower the odds on that potential outcome, and raise the odds for the other outcomes to encourage bets on the other sides of the result in an effort to balance the eventual payouts. In the end, the bookie hopes to pay all the winners from the stakes of the lost bets, and be left with some money to be counted as company revenue.
What does this mean for you? If you like to bet fairly frequently on Ante-
After all, people nowadays compare prices for all kinds of products and services
like airline tickets, hotel rooms and loans in order to get the best value available
on the market. Usually these services might range in price through their respective
providers by as much as 10%. When it comes to betting, the odds for a single event
can vary by 10% -
With online sportsbooks, just like business, earnings come through profit margins. Odds margins are usually set anywhere between 2% and 10% depending on the sport, the betting site and the betting market (match betting, goal totals, handicaps etc). This is how you would calculate odds margins for a typical football match with 1X2 match betting.
[(1/Decimal Odds Home)*100 + (1/Decimal Odds Draw)*100 + (1/Decimal Odds Away Win)*100
[(1 / 1.80) * 100 + (1 / 3.50) * 100 + (1 / 4.10) * 100] -
When you play with only a single betting site account, you must play with the odds
that this lone company provides. These odds are based on their own collection of
the bets they’ve taken and the odds margins they’ve built-
With OddsJet, because you get a chance to instantly compare odds to see the best potential payouts for your opinions, your odds margins could be calculated like this:
[(1 / 1.85) * 100 + (1 / 3.70) * 100 + (1 / 4.50) * 100] = 3.3% odds margin.
By comparing odds in the example above, your available odds margins have been reduced by over five full percentage points from over 8.5% to 3.3% for a single event bet. When this kind of improvement is applied to your overall betting patterns, you can thus stay profitable more easily, with a wider margin for error. Even for single event bets, OddsJet can really help you identify where you should be placing your bets.
Most bettors like to bet in combination or with multiples to ‘cover all their bases’.
If you really like combination or multiples betting, then you certainly need to
look at OddsJet. Look at the kinds of benefits you saw above for single match betting
results. Imagine you are now multiplying those advantages by four, five, six or
seven matches, or even multiples where we are talking about several combination bets.
Potential payouts between reputable bookmakers can range as high as 50%. Imagine
that, 50%! Your bets are the same, but some companies are willing to pay you 50%
more. Try OddsJet, it is free to use and completely private -
An outright winner is the winner of a given league or tournament. The outright winner betting market is the single betting market that can vary more than any other between betting sites. This is especially the case when you are considering a potential outright winner that is not the heaviest favourite.
Potential payouts can range, by from 10% to around 20% for typical short odds options, if not the heaviest favourites. However, sometimes outright winner odds can range up to 50% and on occasion they can range approaching 90% depending on the teams or players involved.
With such significant ranges in potential payouts and the length of time you may need to wait for your bet to resolve, it makes a lot of sense to compare outright winner odds before you make your bet.
Example: You are of the mind that Leicester City was going win 2017/18 Premier League season after failing to defend their crown in 2016/17.
Early season Premier League winner odds for Leicester ranged over 66% ! The highest odds were at 251.00 (250/1) and the lowest offered were at 151.00 (150/1).
What if your single betting site was offering 151.00? If you were going to bet $20, your potential returns would have been $3,020 as opposed to the $5,020 being offered at these other sites and you’d be leaving $2,000 on the table for a won bet.
It takes only a few seconds to use OddsJet to find this information before you bet