The vigorish tries to assure the bookmaker of a profit, and you need to overcome the vig just to break even. You need to find a way to recognize whether the bookmaker has correctly estimated the chances of either team winning to be an Organized Sports Bettor. It s my belief that sports betting gives you the best chance of all house games. The following will illustrate your chance of success at a variety of gambling offered by most states. The first and probably the oldest legal form of gambling is horse racing.
Horse racing is based on the pari-mutual system of betting.
All bettors pool their money together and the winners split the pool between them. It depends on which state you are in when you place your bet, what type of bet you place, and if you are paying an extra few percent to bet off-track. The percentage against you at the race track is called the takeout. It accurately describes what happens to your money. When you place a bet a certain amount is taken out, kept by the track to split with the state and used to fund their business along with providing purse money.