Bookmaker Margin advantage

BY markoh November 15, 2022

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Bookmaker Margin advantage

If you’re looking to make some extra profit while betting on your favorite sporting events, you can go the extra mile and use bookmaker betting margins to gain an advantage over online bookies.

Every long-term strategic bettor wants to maximize returns by finding the highest odds. The higher the margin, the lower the odds; as compensation, you need to pick the correct outcome to break even.

It is essentially margin rounding multiplied by the spread, even if the margin is zero. For example, if the margin is zero in a coin toss, the breakeven point is 50 guesses. When applying a 3% margin, we add 3% of 50, equal to 1.5. However, we need to round the number to 2. If the margin is 3%, it will take 52 guesses.

This article looks at the important margins in sports betting and how you can use them to your advantage. Remember, the bigger the margin, the more accurate your bets will be in the long run.

What is the bookmaker margin?

What does edge mean in sports betting?

The advantage of sports betting is finding bets with a higher probability of occurrence than the odds you receive.

Since this is the best way to become a successful sports bettor, finding an edge takes work. Bookmakers set odds w/ the help of data, often exceeding any outcome a single person could produce. If you can find an edge on one side, the next part is finding the best odds in the sportsbooks available.

It will take time to be successful, and it may only be possible if you have the tools. You can find your edge in several ways, whether through an injury report before a sportsbook updates its odds or a developing weather pattern. Either that or you see something in a head coach’s press conference talking about how a specific player is going to get more or fewer minutes.

If you’re not a mathematician, these little things can give you an edge at sports betting. Of course, it’s rare to find out about the news before the dealer arrives. Before the internet, it was easy to find local news pieces before sports betting, but that’s no longer the case.

There are other ways to find an edge, namely, if you have a system that ranks a given set of teams more accurately. For example, you can create your betting line setting system (strength ranking), which has proven to be better than anything sportsbooks have produced. Again, this takes time.

Finding an edge in sports betting takes work, so becoming a professional sports bettor is easier said than done. While finding edges is possible, they only come up sometimes.

What does juice mean in sports betting?

Juice is another name for Vig, the fee or amount a sportsbook charges for a bet. Sportsbooks only collect juice if bettors lose their bets.

For example, spreads list at -110 odds. If the Hawks are the -6.5 favorites, those odds are -110. If there is no juice, the odds are even, i.e., +100. A 100-dollar bet would result in a $190 payout with juice. Without juice, a $100 bet would result in a $200 payout. It just means that if you want to win $100, you have to bet $110 because of the juice, & when the bet loses, that 10 dollar goes straight to the sportsbook.

Of course, not all sportsbooks are generated equally, and sometimes regular odds are listed as -115 or -120. As more states legalize sports betting, state-to-state differences will become a talking point. It is because many live sportsbooks have higher stakes than online sportsbooks, and online sportsbooks get more bets because they are easier to get. While each state has different rules, sports betting is more profitable overall in some states, no matter where you place your bets.

What is the Vig in sports betting?

Vig or vigorish is the wagering fee or amount charged by sportsbooks, also known in slang as juice. Sportsbooks only charge wagers when bettors lose their bets.

For example, spreads list at -110 odds. If the Hawks are the -6.5 favorites, those odds are -110. If there is no Vig, the odds are even, i.e., +100. Using Vig, a bet of $100 would result in a payout of $190. Without Vig, a $100 bet would result in a $200 payout. It just means that if you want to win $100, you have to wager $110; since the bet loses, that 10 dollar goes straight to the sportsbook.

Not all sportsbooks are created equal, and sometimes regular odds are listed as -115 or -120. As more & more states legalize sports betting, the diversity of betting across states will become a talking point. It is because many live sportsbooks have higher stakes than online sportsbooks, and online sportsbooks get more bets because they are easier to get. While each state has different rules, sports betting is more competitive in some states, no matter where you place your bets.

If many people are betting on the Eagles at -6.5 (public money) & the sportsbook does not want to move that number to -7, they will push the odds up to -120 or -130, which means betting $100 on a more small expenditure.

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