If you’ve made it this far, first of all thank you from the bottom of my heart for having so much free time that you read 3 articles about gambling in a row on a random website. People like you are the reason we can keep the lights on.
It’s an open secret how Sportsbooks make money. Instead of charging you for each bet, they give both sides of the match worse odds than they should have, and the Book keeps the difference.
For instance if twice the amount of people think Conor McGregor is going to beat Nate Diaz, the odds should be 2 to 1. I.e. if you bet $1 on McGregor and he wins, you get $0.5 back, and if you bet on Diaz and he wins, you get $2 back.
But instead Sportsbooks give you something like $0.45 if McGregor wins, or $1.9 if Diaz wins, and they collect the difference. So no matter who wins, the house always wins.
In other words if you win, you win less that you should have, and if you lose, well you lost. You might think “Well it’s only 10% less – who cares.” But even the best sports gamblers out there usually only beat the lines by about 5% consistently. This is a game of inches and every little percentage point counts.
So bet with your friends instead. Obviously make sure it’s legal to do that wherever you live etc. etc. But now you’ll make 10% more every time you win, and you have the added benefit of talking shit to your friends and having a good time instead of clicking buttons in a basement. Maybe your friend buys you a few beers instead of paying you cash, or maybe she can’t pay up so it sparks a beautiful sexual relationship. Who knows, anything is possible when you don’t use sportsbooks.
The way you figure out fair odds is by going to any sportsbook, and meet in the middle of the positive and negative number to reach the same number. So if the odds are +170 for one team and -150 for the other, the odds you should use are + and – 160.
There are some online tools that tell you how much each person would have to pay the other based on odds and wager, and we’ll make one available here soon so you don’t have to go anywhere else ;).
Shameless plug: Sign up for our newsletter on the sidebar so we can let you know when that tool becomes available. We won’t spam you – only ~1-2 emails a month.