how do sportsbooks make their money?

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  • JayTrotter
    SBR Sharp
    • 03-27-10
    • 320

    #1
    how do sportsbooks make their money?
    If we can figure this out, we will know when it is profitable for the books, and be on their side when it is..

    as far as betting against the public, I would rather bet against the losers.. any theories or experience earned information is appreciated.

    SBRer's how and when do sportsbooks make their money?
  • Naz18
    SBR MVP
    • 09-10-09
    • 4277

    #2
    They have the house edge....at standard -110 line you have to win like 52.25% (something like that) of your bets. And since your usually betting against the sharpest of spreads you basically have a 50% of picking the right side.
    Comment
    • Jaug
      SBR MVP
      • 01-11-09
      • 3087

      #3
      Juice, what I do is think about what price i'm giving the bookie. That is, if I play Milwaukee -3.5 -110 I think about what the bookie is getting. For example Memphis +3.5 +110. If that price seems to good then I lay off.

      This is an even better method on 3 way markets. If I play Man U to win at -110 i'm essentially giving the bookie the other team and draw at +110, does it seem like a good price? Then lay off.
      Comment
      • sketch80823
        SBR Wise Guy
        • 02-26-10
        • 671

        #4
        yeah they make it with the juice if you got a billion people number ads up and thats how locals make money
        Comment
        • suicidekings
          SBR Hall of Famer
          • 03-23-09
          • 9962

          #5
          90% of the time, they make their money by balancing the action placed on each side of a matchup (dog/fave & over/under). They could care less who wins as long as they get their cut.

          The other 10% of the time, they have an opinion about the event and will shade the line to encourage action on the side they think will be a loser, taking advantage of public perception. These are indicated by imbalanced wagering and an unmoving line.
          Comment
          • THE PROFIT
            SBR Posting Legend
            • 11-27-09
            • 17701

            #6
            The books are gambling but they are making you pick. They are putting the pressure on you.
            Comment
            • Peregrine Stoop
              SBR Wise Guy
              • 10-23-09
              • 869

              #7
              Shaded juice IMO
              Comment
              • Slainte
                SBR MVP
                • 12-13-09
                • 2442

                #8
                If you know the right answer you will take their money.
                Comment
                • CFA
                  Restricted User
                  • 12-14-09
                  • 44

                  #9
                  They typically make money on people who don't know how sportsbooks make their money.
                  Comment
                  • thebestthereis
                    SBR Posting Legend
                    • 03-01-09
                    • 11459

                    #10
                    Originally posted by THE PROFIT
                    The books are gambling but they are making you pick. They are putting the pressure on you.
                    they don't make you pick anything, that is an advantage you have; you pick the option they offer not the other way around. also they win because people/humans that gamble lack any type of self control or money management plan whatsoever. it isn't hard to win, it is hard to win above your means when you chase and continually change your bet sizes. it is as simple the pack of cigarettes stating you are almost ultimately gonna get cancer/disease and die if you smoke these. they know but they still smoke. don't make this out to be scientific because it is not by a longshot.
                    Comment
                    • Jive
                      SBR MVP
                      • 02-10-10
                      • 1405

                      #11
                      Originally posted by thebestthereis
                      also they win because people/humans that gamble lack any type of self control or money management plan whatsoever.
                      While books make money (and a lot of it) off of juice and occasionally picking sides, I really think thebesttheris has the answer. I view bookies in the same light as drug dealers in a sense that they will do what they can to get you hooked because they know that so, so many of us will become idiots with our money when we hit a downward spiral. People chase, go all-in, try 8-team parlays to get money quick, play just to have action, etc... then reload. I believe books are perfectly content to sit back and watch a player profit $500 over the course of 50 bets, because they know the majority of us will give that $500 back in about 10 bets when things go bad, then deposit more money and start the process all over again.

                      My guess is that books profit comes from 10% taking a side, 40% juice, 50% poor money management of its players.
                      Comment
                      • Peeig
                        SBR Wise Guy
                        • 02-06-08
                        • 567

                        #12
                        applied mathematics
                        Comment
                        • Leverage
                          SBR Sharp
                          • 07-30-09
                          • 253

                          #13
                          Originally posted by Peeig
                          applied mathematics
                          Bingo.
                          Comment
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