Assertion: bookmaker | /r/CapableOf | make money
Facets:
value: by taking a small slice
type: MANNER
value: from players
type: OTHER
value: on commissions
type: OTHER
value: with these same methods
type: MANNER
value: by accepting bets
type: MANNER
value: effectively
type: MANNER
value: by balancing their books
type: MANNER
value: by applying a margin
type: MANNER
value: regardless of the sport
type: OTHER
value: on the coin toss
type: TEMPORAL
value: by putting odds
type: MANNER
value: from charging a commission
type: MANNER
value: on that wager
type: OTHER
Source sentences:
text: This is WHY they build in a profit margin, and WHY they make money.
text: So when someone makes a wager on saying the New England Patriots against the New York Jets, then the bookie needs the opposite team to win or cover the spread in order for him to make money on that wager.
text: What happens in reality however is that most money is gambled on the favourites and it’s when the favourites fail to win, that the bookmakers make their money.
text: The bookies make their money by applying a margin on each side of the coin flip.
text: Bookmakers create markets that go above 100% to create an edge, which is where the bookmaker makes its money.
text: A bookmaker makes money from charging a commission for taking the best.
text: However, if the bookmaker was making money on the coin toss by putting odds which total to a percentage of more than 100% (in the above case 102.6) they would have made a profit from five equal flips of the coin.
text: Bookmakers make money with these same methods, regardless of the sport or other type of betting event.
text: Also like any other business a bookmaker has to make money so the Trader will add a small percentage to a ‘book’ in order to generate this profit.
text: The reason for discrepancy in prices is that bookmakers effectively make money by balancing their books in a way which theoretically allows them to make money irrespective of the result.
text: Bookmakers make money by accepting bets on a market and pricing it in a way that does not represent the true probability of the outcomes.
text: So if bookies make money from players that lose when they gamble, then the best way to make the most money is to either have players that give a ton of action or to just keep acquiring new players that want to bet with you.
text: Bookies can’t make money if you’re taking value from them.
text: Remember, bookmakers make their money on commissions, not game outcomes.
text: Bookmakers make their money by taking a small slice of winning bets as a fee, but they work very hard to entice bettors on each side of a wager to eliminate the risk for themselves.
text: A common fallacy is that bookies make their money when favourites get beaten.