Bookmaking is Nothing More than Mathematics

Posted on July 2, 2012 by admin in Sports Betting Guide

Bookmaking, contrary to popular belief, isn’t all about luck. If it was, then bookies would be no different than the gamblers they rely on to make a profit! No, bookmaking mathematics plays a large role in the bookmaking and sports betting world, and having a general knowledge of math, probability, and how odds are determined is important for every bookmaker. If you don’t understand the mathematics of bookmaking, you’re not going to understand the lines that come out of Vegas. You’ll just be accepting wagers on blind faith, something that isn’t very likely to benefit your bookmaker win percentage!

You also have to take into consideration that sports betting handicappers are using bookmaking mathematics themselves. They are recalculating the odds as they think they should be. Then, they use the information they gather to spot holes in what the bookies are planning on doing. A smart bookie, one who is concerned about bookie profit percentages, will be able to account for this.

If you would have asked about the need for an understanding of basic bookmaking mathematics a few years ago, everyone would have looked at you with a “Duh” expression. In the past, everyone knew that a knowledge of math was vital to success as a bookie. In today’s world, though, we rely so much on computers that we forget how important math and a real, working understanding of it is.

Bookies who know their mathematical stuff will know when they’re getting picked off by a wise guy! They’ll be able to spot a soft number hanging and remember those players who bet on it. Plus, picking out square bettors is simple too, allowing you to keep around those players and to continually earn money off of them. If you’re serious about being the best bookie that you can be and about earning money through your bookmaking business, put some work into your math skills! Browse through blogs for helpful articles and strategies and go with a pay per head service that’s truly on your side. You’ll want one you can turn to with your questions and concerns, one that will provide you with the advice and help you need to understand bookie math and to apply that understanding to your business. A little knowledge on your part can go a long way and, with the right help, it can go an even longer way!