Bookies always win. It’s true. Back in the day, there was a time when sports betting was done without bookies. Two people bet on the outcome of a game; one was the winner and one the loser. They settled up afterwards. But betting variety wasn’t a thing.
IT PAYS TO BET ON THE GAMES AT AMERICA’S BOOKIE
Nowadays, a bookie handles the bet for you and he always wins. Your sportsbook collects juice on every bet. While players win and lose, bookies simply collect their commission. Betting variety has a lot to do with a bookie’s success.
Attract More Bettors
By offering a variety of bets on sports ranging from NFL football to hockey in Belarus, a sportsbook is able to attract all kinds of bettors. One of the things that bettors look for when searching for a top online sportsbook is a large number of betting options.
Bettors like to have choices and sportsbooks that offer variety are going to get more players. Guess what? More players means more bets and more bets means more juice. Ultimately, higher numbers of bettors on your player sheet means higher profits for the bookie.
Collect More Juice
As stated, more bets means more juice. A bookie that doesn’t offer betting on college football or basketball, for example, is missing out on a ton of action. Both are extremely popular among sports bettors. Those players will find a sportsbook that will take the action.
Many sports bettors like to bet on multiple sports. Bookies that have the variety to offer will keep that business in-house. The more juice a bookie can collect; the more likely he is to make a profit.
Balancing the Book
Successful bookies do a great job of creating a balanced book. The idea is, of course, to bring in an equal amount of action on both sides of a bet. Let’s say the Celtics are playing the Lakers in the NBA. Line shopping is a great way to promote your sportsbook to those looking for another place to find odds and lines,
The bookie takes in $6,000 on the Lakers at -169 and another $4,000 on Boston at +138. The book takes in $10,000 total and if the Lakers win they payout $9,540 and make $460 in profits. If Boston wins, the payout is $9,520 and the profit is $480. This is success.
Having a variety of betting options can help a sportsbook balance its overall book. Line adjustments can encourage action on one side of a bet or the other and help the bookie balance the whole betting book.
Offer Emotional Bets
Where many bookies really excel is taking bets on local favorites and fan favorites. Recreational bettors tend to bet on favorites. For example, the casual bettor would likely favor the Patriots in a regular season NFL game.
If your hometown team is playing the Super Bowl, you are more likely to wager on your team. All of these emotional type bets are great for bookies. Offering variety ensures that bettors will have the opportunity to place such bets. Everyone in the industry knows bettors are ALWAYS looking for wagering options.
In the end, bookies are all about making money. By offering a variety of bets on different sports and a number of different bet types – spread, moneyline, parlays, etc. – bookies can maximize their profits.
