Do Bookies always Win
One known fact in the sports betting industry is that it is possible for bookies to consistently make a profit. In fact, this is probably why so many people want to start their own sportsbook using a Pay Per Head. Thus, today we answer why Do Bookies always Win and whether there is any truth behind it.
On the other hand, some are skeptical about the possibility of the bookie always winning because of the odds factor. In addition, they believe that the “house always wins” on the long run rule is more difficult to apply to bookies. This is because unlike casino games, the odds are not consistent due to many factors that affect a sporting event.
Thus, they believe this is why many sportsbooks actually do go out of business. We disagree with this theory because in most cases, it is because of poor management, ponzi schemes and low financial backing.
Why do Bookie Always Win
Under proper management, the right staff and strong financial backing a bookie will always win. This is because they have the financial backing to outlast their players. However, in order to do that, they have to implement and follow certain rules to their business model.
Using Expert Help
Other then strong financial backing, having expert sports handicappers on staff is the key to their success. This is because the odds they set reflect both the probabilities of an event and how they believe players will bet. In addition, they change the odds according to the betting market to insure a profit regardless of the outcome of the game.
Thus, they always make sure that the odds are even on both sides to make money from the commission. And this is how bookies make money!
In addition, having a good risk management team is also an invaluable part of a successful bookie operation. A good risk manager will ban or limit a successful sports bettor. They look for players that have systematic betting systems, arbitrage players and of course, players that abuse promotions and bonuses. Thus, they pay winning players off and kick them out or lower their betting limits to avoid taking heavy losses.
Strong Financial Backing
Having strong financial backing does improve your odds of being a successful bookie. This is because if a player consistently plays with them, on the long run, the odds will favor the sportsbook.
However, it is possible to be successful bookie without a lot of money thanks to bookie pay per head services. For example, PricePerPlayer.com gives you all the tools to open a successful gambling website for only $5 per player.
Thus, you do not need to pay for a sport betting platform, expert staff and an expensive infrastructure. Instead, bookies only have to worry about finding and managing players.