If anyone on this thread is on the inside of the sportsbook industry I'd love to know why bookmakers are not previding lines for the CFL....anybody out there?
In my country they just had a state of origin rugby clash between New South Wales and Queensland, and in the sports exchange betfair, there was 1.2 million worth of matched bets, with about a 5% rake, which means they made a cool 60,000 dollars with absolutely no risk to themselves...what an awesome business model!
I read all the time in betting news here in Oz of bettors betting >50,000 dollars in a rugby match. Yet, a thousand dollar bet in a CFL or WNBA game sends bookmakers into absolute panic mode....it speaks highly of the greed that bookmakers possess, as all of them would have made a similar amount of what betfair made last night on that state of origin match. It stems from the english bookmaking model of operation where they absolutely don't tolerate winners.....ANY WINNERS.
It is insane, because when betfair did a study of their betting population, and betfair like pinnacle, and 5 Dimes, attract the highest intellience level of their population of bettors because they charge the least commssion of all the bookmakers, that only 3.75% of the betting populaton were winners. That was 3,000 out of 80,000 bettors.
In New Jersey, recently they published their betting numbers with the news that bettors placed more money in sports betting for the first time in New Jersey than in Las Vegas. The handle (profit) of their operations was 8%. which is in line with the general average of a bookmaker's handle of 5-10% of a bookmaker's total intake of bets in any one month.
So, instead of a bookmaker thanking their lucky stars that they have a basic guaranteed awesome income every month, they try to weed out the 3% by limiting them, or playing mind games with them. And, it's flawed, because how can you predict who that 3% is at any one time? Those people that win superbook contests one year descend into mediocrity the next.
Pinnacle realizes the futility of it, by welcoming all "winners", and they are the largest bookmaker with the lowest rakes in the industry. Bet365 is similar although their rakes are pretty much industry standard at -110 for most of their betting.
I've said a million times that if bookmakers have no balls, why don't they become an exchange where they have no risk, as is soooo pussyish to have apolexy about a 1000 dollar CFL bet, especially when they are making millions every year. Meanwhile, those same bookmakers send me marketing things on my mobile phone pleading with me to bet with them.
Hot Forum Topics
