What is a bookmaker(BK)? A bookmaker is a person who takes bets (bets with people) on various events, most often for sports and other media-covered events.
Usually, when offering to make a bet, the bookmaker allows the player to choose the desired option from the entire possible list of outcomes. For example, in a football match "Russia - England", a player can choose to either win Russia or England, or even draw. For each outcome, the bookmaker offers a predetermined bookmaker's payout ratio (bet odds), the value of which depends on the probability of the specified result estimated by the office.
What does bet ratio mean?
Betting odds ("kef", "odds", "kefs")- this is the value by which the possible winnings of the bettor are calculated. They are of several types:
- Decimal bet odds(accepted in Russia and CIS countries).
Example: 1.64. It means that the bet amount in case of a win will be multiplied by 1.64 (if the bet was 100 rubles, then the payout will be 164 rubles, i.e. 64 rubles of winnings).
The bookmaker's probability at this coefficient can be calculated as follows: (1/1.64) * 100% = 60.98%. - Fractional bet odds(adopted in the UK).
Example: 3/8. This means that as a net win we will receive 3/8 of the bet amount (between £100, net winnings 100 * 3/8 = £37.5, and the total payout will be £137.5).
The betting probability in this case is calculated by the formula: Probability = (Denominator / (Numerator + Denominator)) * 100%. In our case, it will be: (3/3+8) * 100% = 27.27%. - American odds(the most confusing, rare, used in North American countries).
Examples: 110 or -140 (i.e. it can be both positive and negative meaning). Consider the New York Rangers-Boston Bruins match as an example (+150 to win New York, -140 to win Boston). Positive means that by betting $100, if New York wins, we will get $150 net profit (the payout will be $100+$150=$250). Negative means that if Boston wins $100 in net profit, we must bet $140.
For positive odds, the bookmaker's probability is calculated by the formula: Probability = 100% * 100 / (Odds + 100). In our case: 100% * 100 / (150+100) = 40%.
For negative, the probability is calculated as follows: Probability = 100% * (- (Coefficient)) / ((- (Coefficient)) + 100), in our case 100% * (-(-140)) / ((-( -140))+100) = 58.33%.
Regardless of the type in which the coefficient is presented, it always performs the same function: it reflects what the winnings will be when betting at a bookmaker in proportion to its size.
Calculation of betting odds. Where does the bet coefficient come from and what does it depend on?
The odds of the bet are calculated by the bookmaker based on the estimated probability of the various outcomes of the event. To calculate these probabilities, special analysts are involved, using abundant databases of statistics, the opinions of various experts, and specialized programs that take into account many input data.
Consider the situation with an example football match"Russia - England". Analysts made the following predictions (net rate ratio is calculated using the formula: 100%/probability):
The resulting table is called the "pure line" ("pure odds"). And then the logic turns on - in order for the bookmaker to make a profit from bets, he needs to take part of the profit for himself. Therefore, the bookmaker lowers the odds and the table takes the following form:
And this line is called the “bookmaker line”. If we now calculate the probability inversely, based on the odds of the bookmaker, we get the probability of a bet:
The sum of betting probabilities becomes equal not to 100%, but to 108.41%. In this case, 8.41% is bookmaker margin- expressed as a percentage of the probability of understating the odds by the bookmaker, performed to make a profit from the bets.
How to win on bets at a bookmaker?
In the example above, we calculated the probability of a bet, but what is it? The probability of a bet is the marginal probability of winning a bet, taking into account the offered odds, separating the "plus" and "minus" by the expectation of the bet. For example, if in the match in question the probability of Russia winning over England is:
- if there is at least 15%, then the bet on it will be “plus” with an expected overweight of 0.71% (15% - 14.29% = 0.71%);
- will be equal to the probability initially formed by the bookmaker's analysts of 12%, then the rate will be negative with a negative expected overweight equal to a margin of 2.29% (12% - 14.29% = 2.29%).
We say by the expected advantage, because it is impossible to predict the exact result of the match and by betting $10 on Russia to win, you will either win $60 (with odds of 7) or lose $10. But, with a hypothetically large number of such matches, in 15% of which Russia will win, you will be in the black in total at the rates.
In this note, we will not go into the details of winning on bets and will try to analyze this issue in more detail in a separate article. We only note the basic principle of making money on bets: searching for bets, the bookmaker's probability (embedded in the coefficient, taking into account the bookmaker's margin) is lower than the real probability of such an outcome.
The movement of the line of bookmakers
Incorrect estimation of the probabilities of the outcomes of an event by bookmakers is a very, very common phenomenon (there are many reasons for this, ranging from analysts' mistakes to a deliberate shift in the odds by the bookmaker, taking into account the preferences of customers). Therefore, bookmakers constantly “keep their finger on the pulse” while accepting bets.
Let's look at our example again. A day after the publication of the line for the Russia-England match, the bookmaker analyzes and sees that total amount of $100,000 in bets was distributed among the possible outcomes as follows:
It turns out that, depending on the outcome, the bookmaker must make the following payments and get the following financial results:
The bookmaker is interested in eliminating risks for himself and winning on the sum of all bets, regardless of the outcome (this is possible due to the presence of a margin in the odds). To remedy the situation, from the next day the bookmaker will lower the odds for Russia to win, say, to 6.5, while simultaneously raising the odds for England to win to 2.2. Such a line change is called “bookmaker line movement” (sometimes also called “line loading”).
Taking into account the changed odds, the total distribution of bets made on the second day will shift towards the England team, for example:
The financial result for the sum of two days for the bookmaker in this case will be a plus for any outcome.
Now, of course, all bookmakers use special programs continuously monitoring the distribution of bet amounts between outcomes and quickly regulating the movement of lines according to the principle presented above.
The fact that bookmakers have such powerful software tools allows the largest of them to approach the calculation of the initially set odds even more casually. Thanks to the line's quick response to “loads”, it quickly comes to its “balance”. And small losses from losses on bets made at favorable odds (by players who know how to identify such odds) are leveled against the background of huge amounts of bets made by prisoners after finding the “equilibrium” state of the line, in which the bookmaker remains in the black regardless of the outcome.
Most often - sports. The probability of outcomes is estimated by coefficients: the higher the probability, the lower the coefficient, and hence the potential profit of the player.
The first wagers were Ancient Rome at the hippodromes. Then they began to bet on cockfights. In England in the 19th century, they realized that people are ready to bet on anything. This is how bookmakers came into existence.
In a bookmaker's office, an adult can play any sport or. The activity of the bookmaker is regulated by the jurisdiction of the country that issued the license.
How BC works and earns
Betting business is a unique mathematical model.
The bookmaker forms for the event in such a way as to draw attention to bets on opposite outcomes. For example, someone bets on the victory of Barcelona, someone on Real Madrid. As a result, on the one hand, the people who bet on Barcelona, on the other hand, on Real Madrid.
What is the role of the bookmaker and where is his place? Everything is simple. The bookmaker acts as an intermediary between the disputing parties. The odds line is formed in such a way that regardless of the outcome of the match, the bookmaker will receive a commission or the so-called margin.
Commission included in the value of the coefficients. Not all companies can keep afloat due to the margin policy. What then is the secret of bookmakers?
According to statistics, successful players who regularly win money at a bookmaker's office are 2-5%, another 5% balance around zero. 90% of bettors lose.
Plus expected value always on the side of the bookmaker. In addition, the company employs a staff of professional analysts and insiders who know more about betting and sports than the average person.
How to become a bookmaker
Building a betting business without serious financial investments will not work. Of course you can with minimum investment buy cheap software, register a betting site offshore and run a shady business with unfair game conditions. With such a policy, it is unlikely that you will be able to retain customers.
Built for years. Need authorized capital, betting license and staff. For example, the founder
Almost all novice players who are just learning betting ask themselves the question: “What is it and can it be beaten?” We confidently answer: “Yes!” There are players who have regular income from bets. But they are only 2%. The remaining 98% are the losers. Why is that? Everything is simple. 2% of successful players understand that one desire is not enough to make money. First you need to thoroughly study the theory, and then show diligence, resourcefulness and discipline. Only then will there be profit. 98% of players either do not understand this or do not know. In this article, we will find out what it is. We will also tell you how to win against it.
betting from the inside
To begin with, let's answer the question: "A bookmaker's office - what is it?" This is an organization that bets on various events with players. It is designed in such a way that it will always make a profit. And for her, winnings and losses of players are not important. The main thing is to give to events correct odds. As we said above, most players who do not even ask themselves the question: “A bookmaker's office - what is it?” Will still lose. And the organization does not mind paying the remaining 2%.
Three whales of betting
So, you have received an answer to the question: "A bookmaker's office - what is it?" Let's figure out how to beat her. Stable earnings on rates are based on three whales professional betting: money management, analytics and rate analysis. Let's take them in order.
1. Money management
Its essence is that you need to determine for yourself the amount that you can spend on bets during the season. Think of it as an investment in your business. Losing this money should not cause you discomfort. You also need to decide in advance what percentage of the winnings you will withdraw. It is impossible to randomly withdraw funds from the deposit for current needs.
2. Analytics
Allows you to bet on different types sports, but you should choose only one for yourself. The main thing is to understand it well. Although a beginner will be enough and superficial knowledge. Yours will improve over time. We do not recommend spraying on several sports. It won't lead to anything good.
3. Rate analysis
It is very important to analyze what you have done will help to correct game strategy and avoid mistakes in the future.
sports forecast
You have learned the three main rules of successful betting. Now let's talk about the three components of good sports prediction. These are statistics, analytics and intuition.
1. Statistics
To make a sports forecast, you need a starting point. Players who know what a bookmaker is most often choose game statistics as a starting point. It helps to objectively assess the strength of teams or individual players. But don't get too deep into it. Most valuable statistics 4-5 latest games. There are some nuances in the analysis of certain sports. For example, in football, it is important to compare the squad shown in the statistics and the squad selected to play in upcoming event. By the way, bookmakers, when setting odds, are repelled precisely from statistical indicators. And the more accurate the odds, the more they will earn. In this regard, the Olymp organization (a bookmaker in Kazakhstan) works very well.
2. Analytics
This is the main term that determines the correctness of the forecast. Analyzing an event involves looking at the factors that influence the outcome of a game. They are divided into two types: indirect and direct. The first are various circumstances that indirectly affect the outcome of the event. For example: a sudden change in the weather, the behavior of fans, injuries, etc. They are almost impossible to predict, so when making a forecast, it is not necessary to take these factors into account. Much more interesting is the second type - straight lines. Just this information must be included in your own forecasts.
What are direct factors? This is the state of the players before the start of the game (well-being and their strength), morale, motivation, injury risk (players with injuries), team members, etc.
3. Intuition
All professional bettors have a well-developed intuition. They just need to look at the line provided by the bookmaker (bets in it vary from 1 to 10,000,000 rubles), and they can indirectly determine the outcome of the event. So listen to your inner voice. On the other hand, one should not blindly obey him. It is worth considering intuition only as the final touch of your forecast. With experience, it will steadily develop. This can be seen after the first 100 predictions. Surely there will be situations when you find an event in the line with good odds and a clearly predictable outcome. Wherein inner voice will tell you not to bet. Listen to him and give up your intentions!
Conclusion
We hope you will no longer have the question: “A bookmaker's office - what is it?” Use the information from the article and make bets your permanent income. Good luck!
Bookmakers today are everywhere, many even visited them, and for those who have no idea what it is, please do not be upset, because by the end of this semi-sports almanac everything will be clear.
A bookmaker is an organization that bets you on the outcome of an event. And it doesn't have to be a sporting event. Maybe someone does not know, but in fact it can be the outcome of absolutely any case, from the World Cup dog racing, to the question of who will become the next president (for Russia, meaning out of two possible candidates). In general, you place a bet, and if you guess the outcome of the event, you make a profit, in the opposite case, you lose, and the bookmaker still makes a profit. But more on that later.
Basically, bets are made on sports, more precisely on its game types: basketball, football and others. The bookmaker's office does not belong to the field of gambling. At least formally. And even if you have little experience in predicting sporting events, you are unlikely to be able to spend money like in a casino. Although there were craftsmen, that even here they managed to develop such schemes that in the end for some reason they lost their apartments and cars.
Bookmakers emerged in the middle of the nineteenth century. Only then it was not an office, but a small room in which important view a certain Pierre Oler was pacing about. Old Pierre started his lucrative career betting on horse races. It was very popular in France at the time. Around the same time, bookmakers appeared in England, which are considered the most reliable to this day. In Russia, they also decided to keep up, and after only a couple of centuries, they began to open betting shops. It is interesting to note that this happened exactly in 1991. It is believed that it was then that market relations came to our country, although for me, they can still be written in quotation marks.
Well, finally, we will tell you, my dear and beloved readers, why every scoundrel bookmaker always remains profitable, and on holidays he eats a whiskey sandwich.
All of us are really simple. In each bet, the bookmaker lays down his profit initially. This profit is expressed in certain coefficient, which is calculated based on the probability of the event occurring. For example, any event has a probability of 50 percent, in theory. That is, the net odds must be 50 (either won or lost). That is, one event equals one. But the bookmaker decided that one event is not a unit, but 0.9. That is, I threw 10 percent, so to speak, for good health. Moreover, every serious bookmaker has a whole staff of professionals in the world of sports. In general, they earn a meager amount from each bet, but considering that these bets are tens, and maybe hundreds of thousands, the guys feel great.
If you have not tried to bet before, you can safely try your luck, or your sports knowledge. This is not a casino, and in principle, your chances with the bookmaker are equal. It's just the difference in his "corrected" coefficient and hundreds of mugs who carry money to him all the time. You, on the contrary, are left alone with your luck and knowledge, which can sometimes come in handy.
came from English word bookmaker (bookie or turf accountant), is an organization ( Bets or simply bq) or a person who accepts bets ( bets), as a rule, cash, with further payment of winnings, with a successful outcome.
There are several types of bookmaker bets:
- sports betting (eg football betting);
- tote.
The bookmaker accepts bets only on the sport that he knows thoroughly. A sports bookmaker must understand sports, take into account a lot of the nuances of the game. It is not easy to create a good line, because good bookmaker lines should clearly define the favorites of the game, their odds, etc. By the way, playing on odds is called a handicap.
Among all sports addictions in Russia, one can especially highlight football. This is also reflected in the fact that sports betting in Russia, are developed most of all for football. Moreover, the most popular bookmaker bets are not on domestic football, but on the results of competitions between our and foreign teams.
Bookmakers love football, this is due to its huge popularity all over the world, which means it promises big profits. A good bookmaker is obliged to accept bets on football, otherwise there will be little interest in it.
A totalizator is, as a rule, an enterprise that accepts bets on various events (for example, horse racing). The totalizator rarely accepts other sports bets, usually the more appropriate name "Bookmaker's office" is used for this, although you can also say "Sports totalizator", which is also correct. By accepting bets, the tote hopes to make a profit, and the one who guesses the outcome receives a win, the amount of the win depends on total betting on this event. When making bets, a participant in the totalizator can only assume whether he will win a lot or not much, or will be left with nothing at all. As a rule, the organizer of the sweepstakes is always in the black - i.e. he takes his percentage in any case from all bets.
Recently appeared a large number of online sweepstakes, i.e. some bookmaker opens a site where a virtual sweepstakes is organized, in order to place a bet, you don’t even need to leave your home. Internet sweepstakes is quite a convenient thing, because. organization of bookmaker online facilitates the bookmaker's work, he does not need to organize numerous betting points, everything happens automatically, and you can concentrate on the main thing - line calculation. Internet bookmakers rely on such sites big hopes, because the site is able to cover even those countries in which gambling may be completely banned.
Previously, the only place where they bet was the hippodrome. This has been going on since the time of the Roman Empire. Only in the 19th century different kinds sports have become the object of betting on the sweepstakes.
Practice shows that you can bet on any sport and in general on everything that jumps, jumps, flies, crawls and rides. The main thing is that this sport has a lot of fans. Profession of a bookmaker, i.e. professional debater, appeared in the UK, which holds the first place in the world in the number of bookmakers and in the number of bets, England is ahead of the rest. Bookmakers in Russia, i.е. in Moscow, appeared only in 1992.
