Question: What is the reason why bookmakers normally win over time?
Answer: You, the punter, are betting too much on each game.
This might not be the answer you expect, but is the reason that 98% of bettors do not make a profit in the long term. Would a successful fund manager advise you to put 25% of your savings into one stock, when it could fail and wipe out 25% of your retirement savings? No. Therefore you must ask yourself whether risking 25% of your betting pool on one bet is sensible, which most gamblers do regularly.
The house edge is in your favour – would you take it?
If I offered you a betting advantage of 10% in a game of chance (i.e. you would win 55% of the time and I would win 45%) would you take it? You would bite my hand off, if you knew your prediction would be right 55% of the time, you would become very rich and never have to think about working for a living again.
What if I said I would give you £500 free bet pot to start your betting off. The sort of free bet offer, bookmakers offer all the time. Sounding even better, where is the catch?
The only caveat I insist on, you cannot place a bet of less 20% of your betting pot, and you cannot add to your betting pot with your own funds. Something bookmakers do not insist on, but know from experience 98% of punters do anyway.
Still think you would become very rich? YOU WON’T
You would be highly likely to lose the whole £500. Why? over the long term, you will hit your return of 55%. However, over the shorter term, nothing is guaranteed, the same way as you can go on a winning streak of 5-10 wins in a row, think you are the god at betting, you can just as easily go 5-10 losing bets in a row, therefore wiping out your betting pot if your percentage stakes are too high.
Over the decades most bettors consistently make this mistake, betting half their betting allocation on one premiership game, losing and then having to wait until the next paycheck to top it up.
Of all the betting advice and insider betting tips I have been given over the years, this is undoubtedly the most valuable betting “secret” I know. This why most punters are poor and bookmakers rich.
Related posts:
[...] Bookmakers on the other hand control their odds and work off something called the 110% market, which means that regardless of the result they will make a minimum 10% profit. In my time working at online bookmakers there was in fact rarely a day when the profit was less than 20% and was normally nearer 30%. [...]