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How Does a Sportsbook Make Money?

May 19th, 2017

By PST Capper Ron Raymond

Have you ever wondered, how on earth does Las Vegas and Oline Casinos like Royal Vegas Online Casino make money? Here’s one way they make money from a sports betting perspective, betting on College or Football game.

Let take a look at the job of a bookmaker, he’s paid to get the line and get balance action on a game using attractive lines; let’s use the 11/10 rule for this example, meaning bettors have to lay $11 to win $10. Let’s say, it’s NFL Week 1 and the bookmaker has the Denver Broncos -3.5 favorite vs. Oakland Raiders a +3.5 underdog.

  • Cindy bets $110 dollars to win $100 on the Denver Broncos at -3.5 points
  • Bob bets $110 dollars to win $100 on the Oakland Raiders at +3.5 points

Royal Vegas online casino takes both bets and holds the $220 in the bank. The game is over and Denver wins the game 30-10; Cindy wins her bet. The Sportsbook and Casino then gives Cindy $100 for winning the bet and her original wager of $110 for $210 dollars. The Sportsbook and Casino makes a profit of $10 because they took $100 dollars from Bob’s bet to pay Cindy and kept $10 for the house, which is also called the “juice”.   Furthermore, if you have time to kill while waiting for the game, then why not check out the online slots available at royalvegascasino.com and take advantage of their great new players sign up bonuses of $1200. 

What’s that minus sign in front of the team name (-3.5 Denver)?

Keeping with Football, when you have two teams playing, you will have a favorite and an underdog. The favorite has to win by x amount of points predicted by the bookmakers. The UNDERDOGS can lose a game, but as long as they don’t lose by the points indicated by the bookmakers. Example: the Dallas Cowboys are a -3.5 point favorite vs. the Washington Redskins. This means, the Dallas Cowboys must win the football game by 4 points or more in order to cover the bet. The Redskins on the other hand, only need not to win the game straight up or not lose by more than 4 points. If the final score is 24-20 for Dallas, the Cowboys cover the spread. If the final score is 21-20 for Dallas, the Cowboys win the game “straight up” but fail to cover the ATS spread.

If you’re wagering on totals or as some people call it the “OVER/UNDER”, you will bet OVER or UNDER the posted total by the bookmaker. Using the same game, the bookmaker posts an OVER/UNDER of 44.5. This means, if you wager on the UNDER, the total combined score at the end of the game must total 44 or less in order to win your bet. If you wager on the OVER 44.5 total, then there must be 45 points or more in order to win your bet. 

Do you need help at winning your NFL contest?

Therefore, with the NFL season upon in a few months, many will be entering an NFL office pool or a NFL contest like the World Series of Handicapping.

What better way to start the year than to spring into the lead and make some early cash by winning the weekly prize. Because of the various contest formats, such as picking the winner straight up and making picks using the point spread, different betting strategies come into play on a weekly basis.

Some will pick all the home teams or all of the away teams; others will take all of the favorites or all of the underdogs. Several of Ron Raymond’s 50 Greatest Sports Betting Secrets focus on the NFL office pool and how to avoid the common mistakes. In this book, Ron shows you the best way to make your office pool pick using his 50 Greatest Sports Betting Secrets! Here’s one of Ron’s secrets from his book;

Tip #4) The Letdown Factor: What is a letdown factor? It’s when a mid to big underdog team gives a big old fashion butt kicking to a popular big name conference team. Therefore, bet against this team the following week. The “Letdown Factor” is best used in college sports because the pros have been in this spot many times before. The Pros know what to expect the following week. However, when a small town school just pulled a huge upset, they become the talk of the town for that week. They are distracted during practice that week and when the next game rolls around, they find it hard to meet the same intensity. The odd of them having a major “Letdown” is highly likely, therefore, bet against teams in a letdown spot. 

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