• Arbitrage using bookmakers

    Monday, June 7th, 2010

    This type of arbitrage takes advantage of different odds offered by different bookmakers. Assume the following situation: We consider an event with 2 possible outcomes (e.g. a tennis match – either Federer wins or Henman wins), the idea can be generalized to events with more outcomes, but we use this as an example. The 2 [...]

  • United Kingdom gambling industry

    Thursday, May 6th, 2010

    Traditionally, bookmakers have been located at the racecourse, but improved TV coverage and modernisation of the law have allowed betting in shops and casinos in most countries. In the UK, on-track bookies still mark up the odds on boards beside the race course and use tic-tac or mobile telephones to communicate the odds between their [...]

  • Odds

    Tuesday, April 13th, 2010

    Odds for different outcomes in a single bet are presented either in European format (decimal odds), UK format (fractional odds), or American format (moneyline odds). European format (decimal odds) are favoured in continental Europe, Canada, and Australia. They are the ratio of the full payout to the stake, in a decimal format. Decimal odds of [...]

  • Operational procedures of the bookmakers

    Thursday, February 18th, 2010

    By adjusting the odds in his favor or by having a point spread, the bookmaker will aim to guarantee a profit by achieving a ‘balanced book’, either by getting an equal number of bets for each outcome, or (when he is offering odds) by getting the amounts wagered on each outcome to reflect the odds. [...]

  • Bookmakers

    Tuesday, January 19th, 2010

    Bookmakers on a greyhound race course, Reading, UK A bookmaker, or bookie, is an organization or a person that takes bets on sporting and other events at agreed upon odds. Range of events Most bookmakers in the United States bet merely on college and professional sports, though in the United Kingdom and Ireland they offer [...]

  • Betting strategy

    Wednesday, January 13th, 2010

    A betting strategy or betting system is a structured approach to gambling intended to counter the inherent bias held by the house in casino and card games and by bookmakers in horseracing and sports betting. A successful strategy should increase the odds of winning in order to produce long term profits from a pursuit which [...]

  • Georgia Bulldogs and Florida Gators

    Sunday, October 25th, 2009

    The Georgia Bulldogs and the Florida Gators will both be trying to pull off big wins on Saturday when they battle at Ben Hill Griffin Stadium at 3:30pm EST on CBS. Odds aren’t yet posted for this game, so check back soon for the opening line and total. Thanks to two touchdown passes from Joe [...]