Let’s momentarily ignore branches of bookies that litter the high street and that mostly target poorer towns, and let’s ignore the controversy of fixed-odds betting machines and fruit machines that exist in betting shops, and let’s concentrate on online bookies. They say you never see a poor bookie, and if you think about it, taking bets is probably one of the safest ways of making money ever. Even if there are only two options for the gambler, the bookie can fix the odds so that the bookie wins almost all the time. The bookie also has the resources to create complex prediction models, plus they have tricks such as false favourites to lead the punters to place bets that are going to lose. Bookies Win Because They Do Not Gamble A punter is gambling when he or she places a bet. The punter makes a stake with the possibility of …show more content…
They invest millions on statistics mining, big data manipulation, programmers and statisticians that can balance their books and make them money by using the data they have accumulated over decades. Bookies Can Use Gambling Trends To Predict Winners Online gambling websites do not just rely on statistics and the data they accumulated. They also have access to the betting statistics that are coming in from around the country. They can see when certain sections of the population are betting on mass, or when one area seems to be betting contrary to the rest of the country. They can use this information to help lower their losses. As people make their bets, gambling websites are able to alter their odds to ensure they lose as little money as possible. This is not a new or surprising thing. You should be well aware that when a lot of people bet on the favorite then the odds go down. The bookies are simply lowering their changes of losing money and are improving their chances of making a bigger profit. Are You A