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A lot of people have a misconception of how betting sites make money. Many think that bookmakers make money when you lose and they lose money when you win. Nope! This is not how it works. To better understand the situation, think about the of the whole picture for the betting site. They accept bets on all potential outcomes of a given event. Their goal is to make a little bit of money on each event, no matter the outcome of that event.
For this to happen, each bookie sets their betting odds in an effort to balance out the overall potential payouts for all outcomes for which they have accepted stakes. When lots of bets come in on one side of an event, they will subsequently lower the odds on that potential outcome, and raise the odds for the other outcomes to encourage bets on the other sides of the result in an effort to balance the eventual payouts. In the end, the bookie hopes to pay all the winners from the stakes of the lost bets, and be left with some money to be counted as company revenue.
What does this all mean for you? If you like to bet fairly frequently single match
After all, people nowadays compare prices for airline tickets and hotel rooms to get the best value available on the market. In these cases, people might save a $100 for a short hotel stay, or a similar amount on a flight. But how often do most people need a hotel or airplane flight? Likely not as often as you will place a bet, and if you like the kinds of wagers mentioned above, your potential returns can range in difference between 10% to 50% between the highest and lowest paying bookmakers for your particular bets.
In business, earnings come through profit margins. It is the same for sports betting sites. Odds margins are usually set anywhere between 2% and 10% depending on the sport, the betting site and the betting market (1X2 match betting, Totals, Handicap etc). Here is how odds margins work for a simple calculation for a typical football match with 1X2 match betting.
[(1/Decimal Odds Home)*100 + (1/Decimal Odds Draw)*100 + (1/Decimal Odds Away Win)*100
[(1 / 1.80) * 100 + (1 / 3.50) * 100 + (1 / 4.10) * 100] -
When you play with just one betting site account, you must play with the odds that this one company provides and that’s it. These odds are based on their own ‘book’. The ‘book’ is the collection of all the bets that have been placed by their customers which includes the kind of profit margin they have set. In the end, your opinion on the game is at the mercy of their odds and their margins. With this kind of profit margin above, you would need to win around 60% of your bets over time to maintain profitability.
With OddsJet, because you get a chance to see the best odds for your opinions, your best available odds might look like this:
[(1 / 1.85) * 100 + (1 / 3.70) * 100 + (1 / 4.50) * 100] = 3.3% odds margin.
By comparing odds in the example above, your available odds margins have been reduced by over five full percentage points from over 8.5% to 3.3% for a single event bet. When this kind of improvement is applied to your overall betting patterns, you can thus stay profitable by winning a little more than 50% of your bets as opposed to nearly 60%. Thus, finding your ideal odds with OddsJet gives you more room for error toward profitability. Even when it comes to single event bets, OddsJet can really help you find where you should be placing your bets.
If you really like combination bets or multiples betting, then you certainly need
to look at OddsJet for odds comparison. Look at the kinds of benefits you saw above
for single match betting results. Imagine you are now multiplying those advantages
by four, five, six or seven matches, or even multiples where we are talking about
several combination bets. Potential payouts between reputable betting sites can
range as high as 50%. Imagine that, 50%! Your bets are the same, but some companies
are willing to pay you 50% more. Give OddsJet a try, it is free to use and completely
Outright Winner Odds
An outright winner is the winner of a given league or tournament. The outright winner betting market is the single market that can have the highest variation in odds pricing between betting sites. This is especially the case when you are considering a potential outright winner that is not the heavy favourite.
Potential payouts can differ, by as much as 50% or more depending on the teams or players involved. Given such significant differences in potential payouts and the length of time you may need to wait for your bet to potentially payout, it makes a lot of sense to compare outright winner odds before you make your bet.
Imagine you wanted to bet on AS Monaco to win Ligue 1 outright at the start of the 2016/17 season. PSG would have been the heaviest favourites. Let’s say Monaco was 9 to 1 at your sportsbook, but another bookie Monaco at 13 to 1. That’s 44% better odds. On a bet of 50¤, the payout would be 450¤ versus 650¤.
That’s 200¤ extra on a potential payout for nothing more than having another betting account. Imagine if you are betting more or your potential differences are even higher.
This is why comparing odds is useful. Creating and funding accounts could not be easier than it currently is. Don’t leave your better potential payouts on the table.
Key Issues of Bahraini Betting