Bookmakers work in bookmakers’ offices, who are engaged in financial activities, namely, they accept money bets and pay winnings for various sporting events, as well as bets on TV, political and cultural events. The bookmaker must be a professional and must know the kind of sport on which the bets are accepted.
The bets on the sport have very deep roots, in ancient Rome the bets were made at the racetrack, later they were joined by the bets of cockfighting. Only in the 19th century did people start betting on various sporting events. Over time, everybody realized that you can bet on anything that can do at least any action, the main thing is that there was a sufficient number of people willing to do it. Since then, and the profession of bookmaker, or as in the olden days he was called a professional sportsman. And it happened in England, which is still the leader in the number of bookmakers’ offices and players.
High competition among bookmakers plays into the hands of an ordinary better. Each bookmaker’s office strives to attract players with interesting odds, early and wide lines and a wide variety of bets.
Comparing the offers of several bookmakers, you can find the most advantageous options for betting. We are not talking about forks, although this is the most common version of the strategy, in which you can beat the bookmaker.
We will try to analyze the work of the analyst (or analysts) who calculates the coefficients. After the line is published, the bookmaker’s office adjusts the odds in such a way as to ensure a balance between the bets on different outcomes. The change of coefficients may be quite insignificant, it may not be at all, but in many situations the bookmaker’s office still changes the initial values.
Note that depending on the bookmaker’s policy, the line may remain unchanged for a long time, or on the contrary, it may change very often. Some offices strive, first of all, to keep the margin at a certain level, while others, on the contrary, are ready to reduce it.
The player cannot influence the bookmaker’s policy in any way, but he is able to determine which of the bookmakers’ offices is the most efficient and whose analysts work best.
This is determined by using an underestimated coefficient. For example, if you understand that for some national football championship conditional bookmaker’s office A works better than offices B, C and D, it is easy to assume that its underestimated coefficients on favorites (in relation to other bookmakers) indicate a high probability of its passage.
Correspondingly, there is no point in placing a bet in this office, because the underestimated coefficient you will get a lower profit than if you put the money from competitors.
It is important to compare betting offices with approximately the same margin level and not earlier than 12 hours before the match.
To determine the effectiveness of the analysts it is necessary to use the statistics on the bookmakers’ coefficients for a long period of time. This can be, for example, a football season in a league.
Comparing the number of outcomes with the underestimated odds in each bookmaker’s office, you will understand whose analysts work better.
Nowadays, many fans are fond of betting on a particular sporting event. Kapper makes forecasts for the game and offers them to customers betting offices. Many online betting offices publish sports analytics to attract customers.
The business of betting offices differs from the usual betting offices in that it must itself build a line, calculate coefficients, set limits. This is also engaged in a staff analyst bookmaker’s office.
Bookmaker analyst makes a line in a particular region, depending on the sports, championships, tournaments, which are in demand and interesting for players. He chooses the most popular events from the line, lays in them the allowable marginality, selects coefficients. The odds must be calculated in such a way as to be of interest to the players and be advantageous for the bookmaker.
Where do the odds come from in the lines?
It is a very difficult task for the analyst to determine the outcome of the event. How is the coefficient calculated? For example, the probability of one team winning is taken as 40%, the second as 30%, and another 30% as a draw. After that, the unit is divided by 40% and the odds are 2.5, then the unit is divided by 30% the odds are 3.3, which means that the draw also goes with the odds are 3.3. To these coefficients the bookmaker puts a margin on the result that the coefficient becomes 2.4, for example, and 3, respectively.
What information does the bookmaker’s office analysts use to determine the probabilities of outcomes?
The bookmakers analyze the previous matches, study the statistics, track the news about the changes in the composition of the players (injuries, disqualifications), all the information is taken from different sources, such as social networks, football news, etc. On the basis of the information received, the strengths and weaknesses are weighed and the possibility of winning a team is calculated.
For starters, we’ll figure out who the analyst is. An analyst is a person who is responsible for analyzing all the outcomes of sporting events. What is their task? Since, on the forecast depends not only on the financial part of the user, but also the trust and demand of a particular bookmaker’s office, analysts have a huge responsibility. They are as accurate as possible, must make a forecast for the game, so that users can make the right choice.
The main weapon of the analyst is statistics, in addition to the entire information layer, that they process statistics is the foundation of any forecast for any event. Also, the analytical department studies the entire history of the team or the athlete. It studies how promising or strong the athlete is, how motivated he is to win. And analysts always remember that any mistake they make can lead to the loss of money not only for the player, but also for the entire bookmaker’s office.