Nichole Ali asked 6 months ago
Bookmakers and excellent online gambler casinos give themselves an advantage and 99% of men and women fall into their “trap”. How do this is accomplished and what should be avoided?
Let’s look at the example of roulette in a casino.
On the surface, it looks OK. 36 numbers, choose one and acquire 35-1 in case you are correct right? Wrong. almost all people forget that there are actually actually 37 numbers including zero (or even 38 with a double zero on American roulette). This make a significant difference on the subject of payouts. So just using European roulette, let’s crunch the numbers.
If you choose one number, the specific odds of getting that number correct is 1 in 37 or 36-1. So by offering 35-1, the casino has instantly stacked the odds ever so subtly in their favour. Just the reduction of 1 point gives the home an edge of about 2.7 percent. Not really a lot you might think but over the course of Ł100,000 that is Ł2700 in favour of the casino. A small margin but a margin nonetheless.
So what about red/black or odd/even? Again, it could appear to be a 50/50 bet. But with the inclusion of zero, you actually have an 18 in 37 chance (48.65%). That favours the home by 1.35% which over the course of one day, could equal to thousands of pounds.
But this is nothing compared to bookmakers.
As I’ve demonstrated, a “50/50” at a casino is in fact a 48.65/51.35 against you. At bookmakers, the margin is significantly greater. A seemingly 50/50 bet will be priced up at 9/10 or 1.9 in decimal odds.
This means that the bookmaker is giving themselves a huge 10% margin on these sort of bets, the most frequent of that are called “handicap bets”. The handicap bets are setup in such a way that there are only two possible outcomes, rated as equally likely. But regardless of what your decision is, the bookie stands to keep 10% of the specific odds. Not fair, you could think. Well, they’re not going to give you anything for free. They may be within the business of making money after all.
Now how can you counter these edges?
It really is possible with bookmakers to make use of a system of “handicap doubles”. I will explain this at another time. Otherwise, only good fortune will counter a bookie’s edge and that’s not something to rely on.
