Assertion: bookmaker | /r/CapableOf | balance their book
Facets:
value: for each single game
type: TEMPORAL
value: because of bettor
type: CAUSE
Source sentences:
text: In this article I examine the likelihood of a bookmaker balancing their book (profiting regardless of outcome) on any given market, as well as optimal odds setting strategies when bettor biases are introduced.
text: The reason behind this is so the bookmaker will be able to balance their books.
text: How Bookmakers make money, balancing a book
text: Bookies don't actually set their odds based completely on the real probabilities but rather on how likely they think their punters will wager on each outcome, allowing them to balance their book.
text: Head to head markets with two choices or match result markets with three choices (Win/Draw/Win) will tend to have the lowest margins, this is because the bookmaker doesn't have to work as hard to balance the book and therefore the line has less risk to them, expect margins below 5%.
text: Bookie can only balance their books if there is an equal proportion of bets.
text: A bookmaker isn’t always seeking to balance their book.
text: In this scenario, the bookmaker has priced the odds efficiently but won’t balance their book because of bettor ‘irrationality’.
text: Remember how we mentioned a bookmaker balancing their book.
text: Bookmakers are not able to balance their books for each single game.
text: In fact, the scenarios in which arbing is possible are deliberately created by bookmakers, as they have to balance their books.
text: They also balance their books and move the odds to where it best suits their risk tolerance levels.