How do the online sports betting sites like the major ones profit?

6 Responses to “How do the online sports betting sites like the major ones profit?”

1. pdq Says:
   August 25th, 2010 at 1:44 am

   Simply put:

   You bet $110 on Team A.
   I bet $110 on Team B.

   One of us wins, one of us loses.

   Let’s say you win. You win $100 profit, plus you keep your $110 bet. So you get back $210.

   The sportsbook collected $110 from you plus $110 from me for $220 total. They only paid out $210 to you!

   They made $10 and it made no difference which one of us won the game.

2. Dwstin Says:
   August 25th, 2010 at 1:44 am

   The typical way a ‘book’ makes its money is by taking bets for the win of team A and the win of team B in a closely proportional matter to the odds they are paying minus the ‘juice’ The juice is where their profits lie. Its anywhere from 5-15 percent and if they run a good book, they should get it no matter who wins. Now, a lot of the online giants like Domain Holdings and Bodog also make a ton of coin off of their online casinos.

3. Terry Says:
   August 25th, 2010 at 1:44 am

   In an ideal world, the sportsbooks would like to have an equal amount of money bet on both outcomes of a game or match. This way, they are guaranteed to make their 5-20% profit (whatever amount the "juice" was). The juice is basically the extra money you have to bet to win your desired amount, for example: if a team’s odds are -110, then you would have to bet $110 to win $100 profit, so the $10 is known as the "juice".

   In addition, there are times when sportsbooks will have an edge on a game and release lines that are meant to lure money in the hopes that everyone will bet on the losing side… don’t worry, these guys are making their money, for sure!

4. SportsBettingInsights Says:
   August 25th, 2010 at 1:44 am

   It’s pretty simple. They make profit on the commission/juice they charge and from taking more losing bets than winning bets. It’s a little more complicated than this, but that’s about as easy as I can put it

5. Mrs. BonBon Says:
   August 25th, 2010 at 1:44 am

   How do they make money ? basically because they are right more often then the public is

   its just theory to say they make money from the Juice - in a perfect world some books would LOVE to have even money on both sides - pay the winners and keep 10% this way they NEVER lose and always make 10%

   The problem is two things - one its NEVER even - the books about 90% of the time are going to be Heavy on ONE side - meaning the public usually bets the favorite heavy and so for the books to make a profit they need the underdog to cover the spread.

   Also make no mistake - because the casinos tend to outsmart the public over the long haul - the bookmakers are in a sense JUST as greedy as the public - They really DONT want just even action and take the 10% - they WANT the public to be Heavy on one side and then LOSE because thats when bookmakers can make a killing on a weekend!

   Obviously due to the laws of gambling sometimes the public picks right and the favorites win and bookmakers can have a losing weekend - but throughout the year the public loses more than they win - and so the profit the books make is pretty good

6. Ptsie Says:
   August 25th, 2010 at 1:44 am

   The sportsbook’s main objective is to get equal action on both sides of an event. This way, they do not have any interest in who wins or loses a sporting event. PDQ demonstrated how it all works when the sportsbook has met their goal and gets an even amount of players taking teams A & B. This is why you will see the line change as the event draws nearer, the sportsbook is luring bettors to the side of the play in which they don’t have enough action on.

   Sports betting for newbies…
   http://www.Sportsbook-Ratings.net/sports-betting-for-newbies

Leave a Comment