Do bookie's lose money?

you got busted? get in a lot of trouble? thats why i dont want to start anything like that

i know last year was a nightmare, favorites, 1h and game and the over hit 90% on big games, if not game and over at least. Players made huge money last year.

hang in there buddy, think of it as a long term investment, you will definitely lose some battles but ultimately you will win the war.

Patience and discipline are the two most important things you need to have in order to find the edge and succeed in sports betting. Yes, these two are more important than money management itself because, without patience and discipline you wouldn't be able to successfully employ an efficient money management plan. In sports betting, having patience and discipline is a special ability--if you cannot master this special ability you will never find the edge. It may seem easy but mastering this ability is very difficult, it is as hard as climbing a slippery and almost vertical hill; you can lose control and slip anytime. For most bettors it is virtually impossible to maintain patience and discipline in the long run. They might do everything perfectly for 1 week, 1 month or even a year but eventually they will momentarily lose that special ability and that moment is enough to destroy the bankroll.

Most bettors begin with a short bankroll, perhaps a few hundred dollars. Often bettors who load their sportsbook with short bankroll find it impossible to maintain patience and discipline in a consistent basis because they will get bored of using proper money management on such small amount. As a result they will lose their bankroll frequently and re-load numerous times to accumulate losses. These bettors turn few hundred dollar losses into few thousand dollars in a matter of few weeks while dreaming of turning few hundred dollars into few thousand dollars of profit! Without patience and discipline your dream will never come true. If you fall into this category of bettors, we highly recommend that you wait patiently and collect these deposits without any action till you get a reasonable ($1000 minimum) bankroll.

completely wrong. "knew a guy who ran a book for 3 years" lol never wanted to just win 10 percent. The action is never even and thats a good thing. You will always come out ahead in the long run. Last couple weeks have been bad. A lot of public plays hitting like crazy. Vegas knows what they are doing just watch they will go on some bad runs.

No dude, you're completely wrong and Chadnailz6 is right. I know, I've been working in the gaming industry in Nevada for the last 26 years and counting. When the book puts out their lines, either money lines or point spread, they don't put up a number that they think the outcome will be,but they put up numbers that they think the public will bet both sides of, and then they make their money off of the vigorish on the losing bets. Casinos don't like to gamble. Las Vegas wasn't built by giving away money.

WHERE THE BOOKS MAKE THE REAL $$$

The book makes the majority of their income off of football parlay cards. On these bets, the book holds AT LEAST 37.5% advantage over the player, or more. And the reason being is because of the odds the card pays out.

EXAMPLE: Suppose you bet a 5-team parlay. The odds the book pays out on a 5-team parlay is 20 to 1. However, the odds of hitting a 5-team parlay is 32 to 1. The 32 to 1 is figured by adding up every possible betting combinations of the 5 teams, 32 different combinations. Now, as Chadnailz6 pointed out, since the book has so much action, every possible combination of that ticket will be played, and out of those 32 tickets, only 1 ticket will win. So the book returns the 1 unit bet to the winner, PLUS 20 additional units for winning. Now, out of the 32 tickets for that particular 5-team parlay, the book is down 21 units, 1 unit for the winning bet, and 20 units for the winning payoff. Now that leaves the book with 11 units left over. That's called PROFIT. In gaming, it doesn't matter how much money is spent, everything is calculated by the unit. Regardless if someone's betting $1 or $100,000, the book's PC (percentage) will always remain the same. So if the book holds at least 37.5% advantage over the bettor, that means for every hundred dollars the book takes in, they are GUARENTEED to make $37.50. The odds get worse for the bettor with more teams bet.

It's not a big industry secret or anything like that, it just comes down to simple odds. That's the truth. I know a lot of people won't believe me, but that's the way it is. And for those people who don't believe what I say, well, let's just say, Las Vegas loves you.

What are the "fair odds" you talk about? And why is it 24.36 to 1 on a 5-team parlay?

Quote Originally Posted by eddothebook:



A parlay is an "accumulator". If you were to risk $100 on one game, won and risked the entire proceeds ($190.90) on the second game, on the second game you would win $173.54, for a total of $364.44, or a $264.64 profit (fair odds = 2.644x).

A 5-team parlay at -110 each game would be [(((1/1.1)+1)^5) - 1] times your stake. If you bought a point in one of the games, your payout would be adjusted, say ((1/1.1)+1)*((1/1.1)+1)*((1/1.2)+1)*....(etc).

Fair odds is simply odds you'd get as if you ran each game into the next all in.

Pinnacle sports offers 5c lines but not on parlays. But if your games start at different times, you may take the -105 lines and go "all in" from one game to the next to have the same result as a normal parlay. If you feel like "hedging" your last leg, simply bet a little less than all in on the last game. That way you save juice and benefit from the reduced juice

 I understand your concept of "fair odds", which is laying 110(-110) on a bet and parlaying it 5 times at the price of -110.

 Laying -110, or -120, or any amount for that matter is the juice, which pretains to something totally different than the thread I was commenting on. And that is just the odds of the outcome of a certain event based on the number of possible combinations for that event.

EXAMPLE: Two baseball teams are playing each other. Now what are the odds of ANY of those teams winning AND the total of the game goes over(or you can use 'under' too)? Well, here's EVERY possible scenario of what could happen(provided that one team eventually wins and the total is not a push)...

#1) Team A wins, goes Over

#2) Team A wins, goes Under

#3) Team B win, goes Over

#4) Team B wins, goes Under

With that said, there are four different possibilities, and only one winning pick. So you have 3 losers and 1 winner. So, your odds of picking the correct one is 1 IN 4, which equates to 3 TO 1. Those are the odds I was talking about, not in a betting standard, but just the odds of something happening, AND THEN apply it to betting strategies, especially when it comes to finding values in overlays and underlays.