UK Betting Online
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What is bookmaker betting? Well a bookmaker or a betting shop, sometimes known as a turf accountant, is called a bookmaker because they make "books". Not that they are book-writers or bookmakers as in book binders. The "book" that betting shops make is a book of figures, a mathematical table where the amounts of money which is wagered on different outcomes, potential winners in a horse race or football match for example, are added up in conjunction with odds, so as to calculate new odds to offer.
The idea of the bookmaker betting shop calculations is that whatever the outcome, the book always adds up, and the betting shop always makes a profit. Some punters will win and some will lose, but the bookmaker will almost always win. What's interesting is that because most people bet in a mostly arbitrary way, and betting shops and bookmakers need to make a profit, it's quite possible to bet in clever ways which allows you to make a profit too. In essence you are winning versus other punters' poor choice, not versus the betting shop or bookmaker.
One interesting upshot of this is that the odds are very little to do with the actual probability, and are much more of a democracy-based thing, where it's the opinion of the punters and betting shop which shapes the odds. Therefore there exist odds being offered by betting shops which are much better than the real probability, and which, if you could spot them, you could consistently win a lot of money! What's more, if you did, the bookmaker would not mind. They don't mind if you win or lose, provided the average win/lose in the punter population leaves them in profit. They call this the bookmaker over-round.
William Hill
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If you decide to put some of this to the test, try out my free UK betting links, for example Coral Betting offer a free £10 bet when you open an account at Corals Betting, good luck!
William Hill
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