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

[Juicyhome]

Not at all, I'm not considering anything other than the betting choice I'm about to make. We all know that gambling is a business & has become a massive industry, it is normal for them to make profit from every bet we place as players. I don't care about the system used by the bookmaker, as long as the site where I play still pays out. Sometimes we go too far, so we forget the basics.

You're right, bookmakers pay tax and and have staff on their payroll, whatsoever they collect to keep the site active for me to bet is fine, I'm not much bother about their profits, I just want to make my won profit by winning my game.

We should not be worry over bookmark profits,  they make money in difference form on any bet  and on every odds,  just as you said it's a business, everyone don't want to lose at the end of the day. There are things we should not consider in betting provided there is a good network on the site and their make payment easy.

[Bigjoe33]

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 agree with you on this, mostimes bettors don't understand this and they shift their attention on odds and potential wins and forgetting that there are ways bookmarkers has program the odds so it will benefit them and that's why many at times we don't win games because they are created to benefit the casino than the bettors, gamblers are even on a long loosing streak due to the odds they see and got carried away by it and they have to select such games and at the longrun it's not possible for them to win because some odds are just too impossible to win.

It's even better to stick to one casino regardless the odds difference than jumping from one casino to the other just because of the odds and potential wins that is displayed. And above all gambling should be seen as a way of getting entertained because one can't be winning always as expected.

So long as the odds does not determine or influence the play or goals of the teams in the pitch, then so many bettors won't pay attention to it. However, it's not a hidden fact that casinos know how best to do it, I mean in odds adjustment to create this mix mindset of the bettors, and sometimes make them take wrong decisions in selecting games they bet on, either the winning side or losing side. I know so many people just make there choice based on the odds they see, without considering some certain things. But all the same, gambling was designed to make gain by the owners of it, and so, we are always accountable for our decisions.

[Leahized]

I agree with you on this, mostimes bettors don't understand this and they shift their attention on odds and potential wins and forgetting that there are ways bookmarkers has program the odds so it will benefit them and that's why many at times we don't win games because they are created to benefit the casino than the bettors, gamblers are even on a long loosing streak due to the odds they see and got carried away by it and they have to select such games and at the longrun it's not possible for them to win because some odds are just too impossible to win.

If you want to win bets, you have to be sufficiently hardworking. It is almost impossible to place a bet and win very easily. However, a little lower odds are given on each bet, I consider this normal. Because this is how bookmakers make a profit. The reason is that they are here to do business. However, their system does not prevent you from winning. So it would be a mistake to have such an idea because if your analysis is accurate, there will be a chance to win.

On the other hand, if a gambler is able to win a bet, so 0.10 odds will not be a big problem. I think, in the excitement of winning, this small amount of odds can be used as tips.

[Queen uloma]

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.

You’re very correct, for me I also prefer Betting on the winning team because that’s the main thing that I’m looking for. But this forum just as you have said it has help many people understand what the house edge means. Before many of us don’t know that betting sites set odds in a way that gives them more advantage. Which has now made many people to understand better.

[giammangiato]

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.

You’re very correct, for me I also prefer Betting on the winning team because that’s the main thing that I’m looking for. But this forum just as you have said it has help many people understand what the house edge means. Before many of us don’t know that betting sites set odds in a way that gives them more advantage. Which has now made many people to understand better.

The odds are visible to everyone so we are already aware of what we can potentially win, why worry about how much the bookmaker earns?
As if we go to the pizzeria and pay for a pizza $6.90 the $0.90 is their profit with the $6 they pay us everything else, but we are aware of what we are paying and why on earth should we care about how much they earn?
This discussion is really very strange, rather I wouldn't worry so much about the bookmaker's share or earnings, but about his reliability, his reputation, the speed of payments in the event of a win.
Furthermore, the quotas are assigned not only by professionals who study, but also by users' choices (it may seem strange but it is).

[Emeraldo]

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.

You’re very correct, for me I also prefer Betting on the winning team because that’s the main thing that I’m looking for. But this forum just as you have said it has help many people understand what the house edge means. Before many of us don’t know that betting sites set odds in a way that gives them more advantage. Which has now made many people to understand better.

How hard do you think it can be when you are trying to go for the winning team and who you thought is going to be the winning team becomes the losing team. Gambling is not easy for you to know what will be the outcome of a match. You can predict and your prediction becomes the reality of the game but we should also have it in mind that gamblers can not be right always.

You should be ready for when you may not make the kind of money you may have been anticipating to get from betting. Our prediction must go the wrong way most times and getting ready for that should be always.

[STT]

Its the house bet on every gamble, free of charge they are in every game on both sides.  However the downside to running the book is the fixed costs so its still variable how much they make, generally the more people the better as most online business especially scales up very well.
  I always consider it and grudgely accept it has to be there, the only alternative I can think of is to live bet after the game start when odds move and people perceive one team is not performing so you get a free enhancement to what is really mostly still the same bet just nicer odds.

[Hispo]

The odds are visible to everyone so we are already aware of what we can potentially win, why worry about how much the bookmaker earns?
As if we go to the pizzeria and pay for a pizza $6.90 the $0.90 is their profit with the $6 they pay us everything else, but we are aware of what we are paying and why on earth should we care about how much they earn?
This discussion is really very strange, rather I wouldn't worry so much about the bookmaker's share or earnings, but about his reliability, his reputation, the speed of payments in the event of a win.
Furthermore, the quotas are assigned not only by professionals who study, but also by users' choices (it may seem strange but it is).

I am the kind of person who believes that it is not actually our business to know how much a company makes.
As long as they are competitive and fair with odds, when people will continue to flock to bookies in the long term.

It is not a secret that, if some bookie started to offer very unfair odds in order to get more money from bettors, then people will find other places to deposit their money.

Those are basic dynamics of free markets, and fair competition.
It would be very different if a single casino hold a complete monopoly over sport betting though.

[ruykeri]

When a gambler loses, he does not think about odds. And when someone wins, he does not feel regret for a small amount. So there is no complaint about this issue. I have not heard anyone say anything about this issue before. The reason why ordinary bettors do not complain about bookmaker margin is that they consider it as a transaction fee or service charge. But for those who bet small amounts, this amount may not be that important. But for those who bet a lot and bet regularly, the calculation becomes different. Especially after betting for a long time, this small amount combines into a very large amount. But there is no reason to complain about it. Because those who fix the margin it is
 normal that small earnings. .

[Yeesha]

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.

Focusing too much or paying more attention on the odds will not allow someone or the bettors to put their focus on the game and the bettor will lose close attention, if care is not taken. But I think their is a possibility for the differences or the changes in the odds to affect the potential profit of the bettors. The casino can take advantage of the bettors through/ by increasing or adjusting the odds if the game is coming to an end, and that can definitely influence the returns that will be available to the bettors. Casino cannot just change the odds if they don't benefit from the difference.

[M47AK16]

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?

Well, it's the house edge of the sportsbook, as we call the house edge in casino side. The edge here is indeed way bigger compared to the casino, which operates at about 1-2% house edge and even the biggest sports events offer 1.9x, which is like a 5% edge if my maths is right.

But with sports betting, there is a possibility to use your analytical skills and actually beat the sportsbook, so that's one reason they carry a bigger house edge/juice to protect them against pro sports bettors. Even then, there are some pro bettors who manage to trick the sportsbook because they get information before the bookie and use it to get better odds before the bookie can fix it.

[Ryu_Ar1]

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 think it depends on how much we bet. 0.10 looks quite small when we bet under $10 so whether or not there are odds then we will not think too much more because it is only a few cents cut off but the longer or even when our bet is bigger odds 0.10 this can become bigger too in the end so the concern becomes a little different.

For me now indeed this is not too influential (or rather not too concerned) because I am only in the range of most $5 per bet so this I consider as a tip only but for those who bet much larger than that per bet they play then maybe this will be a significant difference.

So in this case for small bettors who are only in $1 to $5 may look small because the difference is only a few cents but when it is at a larger bet level then this is quite significant if it continues to repeat.