If Chelsea draw then I lose £10, I can only win if Chelsea wins.
In theory you can become the bookmaker by laying every outcome so that you will make a small profit once you have paid out to the winner. In other words, the more successful you become then the less you will actually win until eventually you lose any profit that you gained.
Gambling over the Internet
A betting exchange is different to a usual bookmaker because you are matching your back bet with a lay bet placed by someone else. Chelsea are expected to win most of their games and so the odds for Chelsea to win are very low, whereas the odds on the other team to win and the draw are quite high. In practice making a book (as they call it) is almost impossible. It is very unlikely that you will ever get the odds needed to complete a book. The exchange takes a 5% cut from the winner of the bet. They offer generous incentives for you to join them with some sites offering to match your deposit up to £200 and do you know why? It’s because they know that they will get their money back plus most of yours.
Even if you do become successful and manage a winning streak, the chances are that bookmakers will limit or even suspend your account and in some cases just refuse to pay out. It is these differences in the betting odds that ensure that you will never win at sports betting.
Someone else bets £10 that Chelsea will not win.
The only person to win is the bookmaker, when did you ever see a bookmaker riding a bicycle? Never is the answer. Exchanges use bots (software) to keep the odds markets artificially fluid that ensure that people will bet more, especially when an event is in running.
The only people who are making money out of gambling are the bookmakers; the exchanges and the spammers who sell systems that promise you the earth. Don’t fall for it; within a few months they will be selling another system because their earlier ones don’t work.
That was a very simplistic example. A very simple example:
You could win eight times out of ten then lose all your profits on the two games Chelsea lost or drew.
I place a £10 bet on Chelsea to win
If Chelsea wins then I win £10 – 5%
Can you see that I am at a disadvantage from the start? If Chelsea lose then I lose £10. It is all down to maths. There are literally thousands of sites on the Internet all dying to get their hands on your money. In reality it’s much more complicated. The odds just don’t allow it. Nowadays, there is a way for you to become the bookmaker, due to the emergence of Betting Exchanges such as Betfair and Betdaq.. You may even manage it once but then to keep on doing it, is very unlikely.
Sports’ betting has never been easier to do