One big advantages a bookies has over a players is they know the average players have limited knowledge in odds,probability and gambling.I call them the experts in the soccerbetting industry.Their betting experience is much better than the average punters in the market.They knew how the general market conceives the money lines and how to tweak the line to their advantages.Their initial capital is also much higher than the average punters.
They do however has cons that is they are exposed to the pros who shares their profit and another cons is they have to set aside about 20%-30% of their profits to bad debts.These bad debts are incurred by punters who bets big and lose thus unable to pay up their wager.
So does a bookies makes much money by the vigourish /or water money alone.The answer is no unless their daily transcations are of large volumes.So where did the rest of the income comes from? They bet against the punters.They knew their customers well understanding their betting behaviour and analyse their punters.For instance which are their favourite team?Is he a dog players or a favourite players?
Why is it neccessary to do all this analysis?This is to helps the bookies to shade the moneyline accordingly inorder to maximise their total profit.For example
Bookies X knew punter A is a favourite players so he will shade the line as below
Example 1
Actual odds
man utd vs westbrom AH -11/2 win 925
He will tell punter A man utd -11/2 win 825
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Example 2
Bookies X knew punter B is a dog players so he will shade the line as below
Example 2
Actual odds
Man utd vs westbrom AH -11/2 win 925
He will tell punter B man utd -11/2 choose win 9 for both teams.
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Example 3
Bookies X knew punter C is a pros who wins often , he will accepts his bets and lays it off to other bookies and gladly accepts those that bets that differs from punter C and sits back to count his money.If bookies X himself is a good player himself, he will remove punter C from his customer list so as to reduce his profit sharing burden or if he belong to those untrustworthy ones he refused to pay you a single cents.What they want are suckers not pros who will share their profits.
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