Betting and Fight Odds: How Bookmakers Make Money?

Underground
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I'm thinking about trying some betting on fighters, but want to know how the bookmakers make their money, beforehand, since that will usually tell you how to bet in the first place.

With blackjack, slots, any chance games, the house always has >50% odds of winning.

With fight betting, you're getting lines/odds, and they can be different at different sports books.

Which makes me ask, where are the margins for bookmakers coming from?

Any good betting site recommendations appreciated, too. Thanks

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Most charge a fee when you deposit your cash. The line is designed up draw the most action on both sides, that way the bookies pay the winners with the losers money. Then some will charge a fee on payout.

I use bodog.com Phone Post

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http://en.wikipedia.org/wiki/Vigorish

read up on it

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NarlyPersianDude - use bodog, they payout, and that is what matters. What fun is it, to do bets with some site, your not sure will pay you. Even if you do great, your gonna be unsure if you get your money. Bodog pays out, that's what matters.



And dont be impulsive and over agressive, that's how they want you to be. Dont force bets, do bets you think you will win. I know it as not as simple as that, but that's a good structure.



MosDef


I was just reading your thread on your latest bet @ UFC 137. What you say makes sense, except for betting against Diaz ;)

I'm surprised that bodog still has poker. I thought all the cash poker sites were taken down. If they pay out, they pay out, though.

Thanks for the info everyone else

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TheBigTaco - I'm thinking about trying some betting on fighters, but want to know how the bookmakers make their money, beforehand, since that will usually tell you how to bet in the first place.



With blackjack, slots, any chance games, the house always has >50% odds of winning.



With fight betting, you're getting lines/odds, and they can be different at different sports books.



Which makes me ask, where are the margins for bookmakers coming from?



Any good betting site recommendations appreciated, too. Thanks
Odds makers don't tell you "how" to bet. 



They move the betting lines based on the money coming in to try to get even money from both sides so the odds prophets can profit. I've still got no idea how they set the initial line though.