In which area exactly do bookies make their money??

Question

i assume it must be losing favourites ,do they outweigh the winning favs???

Answer 1

in england bookies make most money from football (soccer) bets

Answer 2

simply put they overround their book so no matter which horse wins they make at least 10% mostly more per race.

Answer 3

from us mug punters.............

Answer 4

i once worked out how much i`d gambled on horse racing, it amounted to around 12k in one year with money i`d won which was around 4k left me with a loss of 8k....i have limited my betting now to around 5k a year, i do multiple bets so i guess iam a "mug punter" but i love backing race horses i like the buzz when i win but the bookies always get the better of me...oh well that gambling for ya.

my tip for this afternoon (if you fancy a punt )is`hawwana` in the 2.50 leicester

Answer 5

The answer is really in the name...BOOK Maker. They "make a book".

What that means is that they offer odds against any bet winning. The perfectly "fair" book on a race would be that whatever wins the bookie would "break even". As a figure this is 100.  However they have to make a living so they vary the odds in their favour so a book is usually 10 to 30 points "over round" i.e. 110 to 130. What this does is to ensure that whoever wins the bookie still makes his "percentage"

Sometimes smaller guys will think a horse or whatever has no chance and will bet accordingly, this would be what they call "over broke" or in figures say 80 to 99.

THAT is why you will rarely see a skint bookie, Not because he is any better than you or me.

Hope that helps!!!!

Answer 6

the favorite at any giving track wins only 33% of the time

in 9 race card the favorite wins 3 times and loses 6 times,

and just like the track....they have 10 horses running, and they

only pay out for the win-place-show...spots.....not including

the exactas, and other bets where they take their 15% off the top.....

Answer 7

they place the odds in favor of themselves (running numbefrs)

Answer 8

from us the punters, who bet on every race, so were always going to lose, alot of favs win, but more lose, bookies can make false favs, then we aint got a hope,