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Bookmakers and casinos give themselves an edge and 99% of people fall into their «trap». How do they do this and what should be avoided?

Let’s look at please click the following page example of roulette in a casino.

On the surface, it looks OK. 36 numbers, choose one and acquire 35-1 if you’re correct right? Wrong. most individuals forget that there are actually actually 37 numbers including zero (or maybe 38 with a double zero on American roulette). This make a major difference in terms of payouts. So just using European roulette, let’s crunch the numbers.

If you choose one number, the particular odds of getting that number correct is 1 in 37 or 36-1. So by offering 35-1, the casino has instantly stacked the odds ever so subtly within their favour. Just the reduction of 1 point gives the home an advantage of approximately 2.7 percent. Not just a lot you could think but over the course of Ł100,000 that’s Ł2700 in favour of the casino. A small margin but a margin nonetheless.

So what about red/black or odd/even? Again, it will appear to be a 50/50 bet. But with the inclusion of zero, you truly have an 18 in 37 chance (48.65%). That favours the home by 1.35% which over the course of one day, could equal to thousands of pounds.

But this really is nothing compared to bookmakers.

As I’ve demonstrated, a «50/50» at a casino is in fact a 48.65/51.35 against you. At bookmakers, the margin is significantly greater. A seemingly 50/50 bet is usually priced up at 9/10 or 1.9 in decimal odds.

Therefore the bookmaker is giving themselves a tremendous 10% margin on these kind of bets, the most common of that are called «handicap bets». The handicap bets are setup in such a way that you will discover only two possible outcomes, rated as equally likely. But regardless of what your decision is, the bookie stands to keep 10% of the actual odds. Not fair, you may think. Well, they are not going to give you anything for free. They’re within the business of making money after all.

So how can you counter these edges?

It really is possible with bookmakers to make use of a system of «handicap doubles». I will explain this at another time. Otherwise, only good fortune will counter a bookie’s edge and that’s not something to count on.