Thursday, 5 May 2011

How do bookies make money

Being bookies is the biggest sports business these days, and makes a lot of money in what they do. Bookies are the people who you deposit your money with while betting, they bet on your behalf.

Betting is similar to gambling where you put your money at stake and bet on a particular individual or a team. It is similar to gambling in a casino, where you play with numbers, the only difference being that this is sports related. However, the money element is involved in both.

Betting or gambling has never been easy and is not definitely everyone’s cup of tea. It is advised that bad gamblers or people without a gambling sense should stay away from betting.

Bookies are intelligent, knowledgeable people who have been following different sports from a long time. Bookies have studied each game in detail and know the entire history around it, so they can never go wrong. This they can use to their advantage by tricking the common person who has no knowledge about that particular game. Ninety percent of people who get bookies their business are bad gamblers and can be fooled easily.

What most people do is bet an equal amount of money on both sides; in such a scenario irrespective of the team, which wins or looses it, is a clear-cut profit for the bookie.

Certain people have absolutely no sense on money management,  they do not know how to manage their money, and at times when the game is at its peak, they even forget to keep a track on their money, which again proves to be an advantage to the bookie.

Certain bookies lend money on credit and thus charge a heavy interest on it. Getting the money on credit some people forget to keep a track and end up taking a huge amount, which again is a profit for the bookie because of the interest rate charged on the amount.

To predict the precise reasons for a bookie to make money have not been very clear to anyone as of date. As mentioned above a bookie with a sports background is always more successful. For any bookie to be successful, it is very important that you have a strong sports base and follow games carefully. A history of a game is all that counts on the final day in the field.

Bookies have ruled and would continue to rule the sports business in the years to come.

It has been correctly said, “Bookies win, always have and always will.”

So, next time you play with your money and that too with a bookie, make sure that you keep this thing in mind; whether you win or lose, bookie involved with you will always win and never loose. It is his smart business and he knows every smart technique. This is one the most vital reasons involved in how the bookie makes money.

It all about the intelligence these bookies play when it come to minting money in this business.

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