Mathematics of bookmaking

The Ins and Outs of Bookmaking

Bookmakers are in the business of accepting bets on the outcomes of various events in proportions that guarantee that he or she make a profit, regardless of the outcome. In essence, this is achieved by adjusting the true odds in a downward fashion, in which a bookmaker will pay out according to his her actual odds, less than the true odds which would have been paid, in this way hopefully ensuring that he or she sees a profit. The mathematics of bookmaking always favour the bookmaker.

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