Sports Betting … Who is the Real Enemy?
June 23rd, 2009 | 
Author: If you are a seasoned pro or are brand new to sports betting, then you probably know that it’s not an easy task to make money from this endeavor.Before you get started, knowing what you are up against can make that task somewhat more easy and profitable.
In the sports betting world there is this misconception that we are all trying to “Beat the Bookie”, but in reality the sports books are not the enemy at all.They just offer a safe and reliable method for the general public to place their bets and they take a small percentage of all of the action as a service fee called the juice or vig (Usually ten percent).The main goal of the online sports book is to have equal amounts of bets on both sides of a particular game.They really don’t care who wins as they get to keep their 10% just for accepting the bets.
In this example we will use the standard odds of 11/10 that are used primarily on football and basketball bets.What this translates to is that for every $11 you bet you can win $10 or for every $110 you can win $100.Here is how it works.
We will use the New York Jets and the New England Patriots for this example and let’s say the Patriots are the favorite by 7 points.So if you wanted to bet on the NY Jets +7 points then you would have to bet $110 with a chance to win $100.If you wanted to bet on the NE Patriots -7 you would have to wager the same amounts.So here is how the on line sports books make their money.If they managed to do their jobs correctly they should have had the same amount of wagers on both the NY Jets and the Patriots.
Group A – 1000 people bet on the Jets + 7 for a total of $110,000.
Group B – 1000 people bet on the Patriots -7 for a total of $110,000.
We will say that New England won by 10pts and covered the spread, making the Group B winners.So what happens is that the losing Group A bets of $110,000 are used to pay off the Group B winning Bets of $100,000 leaving the sportsbook with a cool $10,000 of profits.Not a bad pay out for about three hrs of work.Multiply this by the numerous games per day and you can clearly see that the sports books make a lot of money.
As you can clearly see the sportsbooks are not really the enemy.It’s the lines makers that you need to beat and with a little discipline, bankroll management and a proven sports betting system it’s a number that can be beat.
If you would like to learn more about how to be profitable at sports betting, then please grab a copy of my Free ebook : “Sports Investing Secrets – How to Turn $1,000 into $1,024,000 in Less Than 5 Years Betting on Sports” at my website http://www.1stopsportsinvestors.com.
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