Did we ever consider the missing 0.10 in Sports Betting Odds?

[Inwestour]

Did we ever consider that the missing 0.10 in sportsbook odds is what beats us in the long run?

For example, in an even market like point spread, we usually see:

Code:

Team A: +5.5  1.90
Team B: -5.5 1.90

Most of us just choose between the two because we believe our pick will hit. But of course, there are also bettors on the other side thinking the same thing. And if the line does not move much, maybe that means the action is somehow balanced.

But if it is really an even market, should it not be 2.00 vs 2.00?
So where does that missing 0.10 go?

That is the juice where the sportsbook makes money. It looks small, but if we keep taking that kind of odds are we already at a disadvantage in the long run?

I know sportsbooks need to make profit, but I just want to discuss this angle. Do most bettors really think about the juice, or do we only focus on picking the winning side?

This is the bookmaker's margin, and there's nothing new about it. It's been discussed many times, this is how bookmakers make money. Among the vast number of players, there will be players who choose different sides, and the bookmaker will make money regardless of which bet they choose. Otherwise, it wouldn't work, if the bookmaker didn't see a profit for themselves and didn't include their margin in every bet, there would be no reason for them to do it. This way, they hedge their bets and make money, that's why I say that betting should be entertainment for the player and nothing more, so they don't have to worry about someone making money off of it.

[Versatile_choice]

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I know sportsbooks need to make profit, but I just want to discuss this angle. Do most bettors really think about the juice, or do we only focus on picking the winning side?

I know that odds are "not fair" — I think we can say that hedging bets never give you fair odds. That's why the casino always wins.
But for me, it doesn't matter: if I don't like the odds, I just don't bet. It's only my decision. I don't care about the casino's profit — the only thing that matters is whether my bet wins.

Not that we don't have option, of course you can decide to leave the game if you're not cool with the odds and / or the settings for the week. It's just like in sport betting sometimes when I look at the odds I wouldn't know the one I'm going to pick among all the odds, so instead of guessing and loss what I do is to skip the week maybe till next week. Even though I'm gambling for fun but that doesn't mean I will see impossibility and still bet it just because it's gambling that anything can be possible Nah, I don't do that moreover I used to see it as a waste of money.

[alastantiger]

Sportsbook operators are very professional in assigning odds for each game you see them include, and they do this mostly in such a manner when they already suspect that both sides have almost equal chances or opportunities to deliver as they may want. They wouldn't want to risk what they already perceive as the outcome by giving too much of a difference in the odds they provide.

Sportbooks would not want to be investigated for cheating hence their odds will always be balancing each other out and they know how  the system they use in generating the odds balanced each other perfectly. I do not really care about other odds when gambling as all my attention is on the odds that I'm choosing and if there is a particular percentage always left out then I would not know but then that might just be the percentage that  that keeps the system balance. If the bet is 50% for slot A,  D raw gets.30% and then 20% for slot B then there is no way you can get a loss if you stake on all odds, that's why there has to be a little difference so you can not cheat the odds hat way .

[bhadz]

But if it is really an even market, should it not be 2.00 vs 2.00?
So where does that missing 0.10 go?

That is the juice where the sportsbook makes money. It looks small, but if we keep taking that kind of odds are we already at a disadvantage in the long run?

I know sportsbooks need to make profit, but I just want to discuss this angle. Do most bettors really think about the juice, or do we only focus on picking the winning side?

I guess that small part is what every business is getting margin. That 0.1 which should be on us is going to the sportsbook is understandable because they have operations, they're paying for a lot of things just to operate. I don't think that it's going to be a huge thing for us if they do that. Although the more bettors they have, the better and more profit they get for each bet that's being placed and the commission they are getting from us. I thought before that the business model of theirs is just all about us losing and they get all.

[Jaycoinz]

if the difference between two odds is 0.10 all because the value dropped from where it was initially due to this missing value then I don't really have much of a problem with that. This change isn't going to make me reconsider to make a different plan than what I have already made initially.

Evey sportsbook have a little change when it comes to odd arrangement and this is mostly done to put them in profit, they balance the odds so it can be in their favour as well. They are also bettors as well, everything done is against the bettors and since 0.1 isn't something most bettors would notice they can easily take advantage of it.

[blomen]

I know sportsbooks need to make profit, but I just want to discuss this angle. Do most bettors really think about the juice, or do we only focus on picking the winning side?

what did you expect? the amount wagered on the opposing bet isn’t always the same as the amount you bet. the casino needs to ensure it doesn’t suffer massive losses even when the money distributed to both sides isn’t equal. that’s why the house edge exists. i actually think the current betting odds are pretty good. for just a commission of around 5%, we can bet on some really interesting things. most things are more expensive than that.

[BIT-BENDER]

Maybe some of us don't think of the sport betting companies gains and why they give odds, I already know this is gambling, I am fully conscious and then I am betting to win and not to care how much the betting companies will earn, is it a winning strategy for me? I don't win very frequently but I think I don't disturb my mind on betting companies profits.
Why is it then gambling if you aren't concentrating on your games rather you want to be an auditor for sport betting companies.

[knuckey]

snip

I know sportsbooks need to make profit, but I just want to discuss this angle. Do most bettors really think about the juice, or do we only focus on picking the winning side?

the casino is quite good by a small margin, let's just ignore that. I've thought about that before, rather than calculating that, my bet will definitely be in the direction of arbitrage, because I will try to find higher odds in other casinos, because arbitrage is against the rules in many casinos so I don't want to take a lot of action and only think about the winning side.

[Nwada001]

I’m sure bettors don’t pay attention to that. Most bettors definitely focus on the odds and the potential amount they can win because they know the casino has to make a profit. I also don’t think that kind of odds is what makes bettors lose in the long run. Bettors mostly lose because of their bets, not because the difference in odds cuts their long-term profits.

I don’t even pay attention to such things at all; what I’m most concerned about is how to pick the option that can give me more winning chances and not check how high the odds should have been and what’s not among them.

If sports betting winning was really easy and something that comes consistently, even if 0.20 odds are off in most of our selected games, it’s not going to affect our overall long-term profit as long as the winning keeps coming; the potential winning amount could have been higher. but we calculate base on what we see.

[adultcrypto]

A lot of bettors don't pay attention to this little details because we can call that the house edge in sports betting. Those that don't pay attention to the to that are actually correct because the focus of the bettor should be on getting the outcome right before even considering the odd. If you get the outcome right, whatever the odd is, you are surely going to make profits. On the contrary, if the bettor get the outcome of the match wrong, irrespective of what the odd is, losses are inevitable. This is the thinking of most bettors and the reason they rarely pay attention to house edge.

[Silverstonez]

I prefer to go for only just the winning team, which is all I am after.

But did you know that this forum only help most people to know what is going on about house edges? Most people do not know about it but they know that the betting sites setting odds that will only favour themselves/the gambling sites.

There was a time when winning was my favorite option, and after experiencing many losses I decided to switch to overs and unders.  So I now bet more on overs and unders, and so far I have been winning more of my tickets with those options.  However, this forum is really helpful when it comes to updates, and just have you have said many bettors may not pay attention to the house edge or how betting sites set their odds. This thread will now help them realized that there are things they have been overlooking all along.

[nelson4lov]

The missing 0.10 from the odds is called the vig. It is margin that sportsbooks shave off and that's what gives them an edge in the business. Since it's charged from both sides of a bet, sportsbook earn it in both sides and that's what guarantees that they'll stay profitable in the long term.

So next time you see a sportsbook that gets tons of betting volume, you should know that they're making a killing from those vig that they bake into the odds.

[lombok]

I prefer to go for only just the winning team, which is all I am after.

But did you know that this forum only help most people to know what is going on about house edges? Most people do not know about it but they know that the betting sites setting odds that will only favour themselves/the gambling sites.

There was a time when winning was my favorite option, and after experiencing many losses I decided to switch to overs and unders.  So I now bet more on overs and unders, and so far I have been winning more of my tickets with those options.  However, this forum is really helpful when it comes to updates, and just have you have said many bettors may not pay attention to the house edge or how betting sites set their odds. This thread will now help them realized that there are things they have been overlooking all along.

It is evident that the chances of success in betting with points limits values are more stable and reassuring. Being aware of tactical predispositions of a team releases the players of unexpected defeats in the last moments of match as the loser gets to score surprise goal.

Unconsciousness of the natural benefits of the manager is frequently central factor of inadvertent drain of capital. This learning environment sends a strong signal to the society not to gamble without putting mathematical variables in consideration.

[macson]

Whatever they put into that, it definitely has meaning, and to prevent them from losing too much. Honestly, I don’t pay too much attention to that because as long as I can bet and win, that’s much more important to me than worrying about something that really isn’t all that important to begin with.

I also understand that sportsbooks are a business, so they want profits no matter what, and that kind of mechanism still makes sense to me, and we should be understanding about that.

[Pearl_20]

Sportsbook operators are very professional in assigning odds for each game you see them include, and they do this mostly in such a manner when they already suspect that both sides have almost equal chances or opportunities to deliver as they may want. They wouldn't want to risk what they already perceive as the outcome by giving too much of a difference in the odds they provide.

Exactly what they do but sometimes it also depends on the sentiment of bettors that makes the give same odd to both options and it happens most when they are comparing the chances of a match ending above a certain number of goals or below. For instance, bookies can give equal odd to over 2.5 goals and under 2.5 goals because they are contemplating possibility and impossibility and this is the real gambling. Sometimes, they deliberately do these things to confuse bettors because when you see equal odd given to two options, it will make you begin to have a second though even if you had decided on the option to choose previously.

[Sandra_hakeem]

this can be just casual. most of bookmakers are not just hedging inside their own bookie but also using others.
this could lead to avoid "large odds" available or other discrepancies...

That demands an insane level of awareness and calculations for a regular gambler to spot out. The rtps, bonuses and free spins they usually offer is an expenses made from that little quotient of profit, which can eventually become millions on full matches for big events, say the champions League for instance.

Example: English League match 23rd of 38.
Between: Arsenal vs. Man United ended the match with a score of 2-3. The odds offered at that time were 2.05 x 2.10.

The .05/.10 difference is what this thread is all about. I never thought to observe closely that such an insignificant fraction of a bey counts as part of the house edge.

[sunsilk]

Nah, I don't focus on it anymore. Well, there's always a spread to choose from, and I actually do pick odds above 1.50. Below that, I may only pick it for a parlay.

Me as well, I don't focus in it anymore. The spread is typically there from the time that I have started to bet in sports and so, I don't really think of it so much.

And if someone is going to look for other better odds in other sports bookies, they might even take advantage of it which can result to arbitrage.

So sticking to one and just accept is what we can all of us do because we have no control over it.

[Agbamoni]

The sportsbook is always ahead of the bettors. A bettor has to be smart to understand how the sportsbook play their card. I knew of the little 0.1 odd. I do not joke with it, because as little as it is, it can make a huge difference in the payout.

Regardless, it is better to focus on the favorite team to win the game because focusing every time on the little details may cause doubt and a wrong choice of odds. Too much doubt hinders success in betting.

[Joy- maker]

Op frankly I have not thought that 0.10 odds because all my focus is always on the winning teams and even at that we are still losing. When I want to bet I will not think of other things or the profit the casino will make because it is a 50/50 lucky game. If I win the casino will still win from other losers and if I loss the casino would win from my end. So I select what is best for me.

Most of us don't usually pay attention to sportsbook odds, so it will be difficult for us to notice this thing OP highlighted. And there is no doubt that must bettors here focus more on the winning teams, but someone like me doesn't really like betting on winners, instead I bet more on over market, especially over 2.5 goals. however, the profit the casino or gambling platform I'm gambling on will make it not really my concern, I just place my bet and let things be, beside I don't gamble with an amount of money that I can't comfortably afford to lose.

[Josefjix]

I prefer to go for only just the winning team, which is all I am after.

But did you know that this forum only help most people to know what is going on about house edges? Most people do not know about it but they know that the betting sites setting odds that will only favour themselves/the gambling sites.

I have only come to know the house edge through the forum, I haven't heard it before and I'm sure there many out there who lacks the house edge information.
Going for the best team is what I prefer to pick than the odds, sometimes bookmakers are pretty manipulative on the odds to drive gamblers confused in what to pick.