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Use Historical Odds to Predict the Final Result of Sports Events.

Principles of work of the bookmaker offices

Bookmaker offices are an integral part of modern world sports development. Bookmakers do sports even more interesting and more attractive, warming up fans’ interest to events in the sports world. It is like peculiar mediator between the people who bet. And the bookmaker industry for a reason is named as one of the most massive on a total turnover of money. After all, the sphere of bookmaking represents billions of money and millions of fans to bet in all corners of the world. What is the principle of work of bookmaker office?

The main task of all bookmakers is to analyze sports events and form the coefficients.

And coefficients in various offices can differ considerably, which is caused by individual specificity of making the analysis in each office. Also it is necessary to notice, that such feature of bookmakers gives punters the chance to find more profitable options for them.

For definition of outcome probability of the specific sports event bookmaker offices use some methods in their work, which can be divided on two groups: heuristic and analytical methods. Heuristic methods are made, based on expert estimations, and the basis of analytical methods is the statistics and the theory of probability. As a rule, bookmakers use both heuristic and analytical methods in their work, which allows them to predict the outcome of the event more correctly.

The sum of probabilities never will be 100 %. Usually, it is 115 % because the difference in 15 % is a profit of bookmaker office, or so-called «profit margin», which is put by bookmakers in coefficients. Bookmakers overestimate the favorite more often, than underestimate it. It is necessary for being always in the black. That is why bookmaker offices count approximate chances of a favorite’s victory, and then add 15-20% more to the received probability of the victory. Certainly, in process of rates receipt, this percent will change by means of redistribution of coefficients. Because of this bookmakers will get the greatest possible profit.

After the principle of work of the bookmaker offices is reviewed, it is important to talk about the basic signs of suspicious bookmakers, having found out about which, it is better to refuse to bet in this office. So, one of signs of the massive bookmaker office is the possibility to withdraw money by using the bank transfer. The bookmakers, who work honestly, have the contract with the specific bank, which means that your funds will be safe. Banks check bookmaker office carefully before the signing the contract and if there is no possibility to withdraw funds to the banking card, there is a reason to doubt in its reliability.

The next sign of suspicious bookmakers is an absence of the license. As a rule, existence of the license for the specific activity means that you deal with serious and solid bookmaker office.

The license and bank transfer possibility are the two main points which confirm reliability of the bookmaker. On the contrary, their absence is a sign of suspicious and unreliable bookmaker office. You should definitely pay your attention at these factors choosing a bookmaker office.