Bookie Margins: A Punters Guide

G’day piggies! Let’s talk about the Bookie margin, as it’s a crucial concept in punting that every punter needs to understand. It's how bookmakers make a profit, and it's something you need to take into account if you want to make money as a punter.

So what is bookie margin? In simple terms, it's the percentage that bookmakers add to the odds to ensure they make a profit regardless of the outcome of the event. Bookmakers have to pay out all winning bets, so they use bookie margin to make sure they make money in the long run.

Let's say you are betting on a coin toss with a friend, and you both put up $1. You call heads, and your friend calls tails. If the coin lands on heads, you win $1, and your friend loses $1. The probability of the coin landing on heads is 50%, so the odds of heads winning should be $2.0 However, if the bookmaker offers odds of $1.9 for heads and $1.9 for tails, then the bookie margin is 5%

This is why when you’re looking at overs/unders or line betting, you’ll find the odds around the $1.90 mark regardless of which side you punt on, this is done deliberately so the bookies can make a long term profit no matter what.

Bookie margin is essential to understand because it affects the odds you are offered as a punter. If you bet on a market with a high bookie margin, you are effectively getting worse odds than you should be, which means you are less likely to make a profit in the long run.

Bookmakers typically use their expertise and market knowledge to set the odds for events. They analyse the form of the teams or players involved, the conditions of the event, and any other relevant information that can help them set accurate odds. Once they've set the odds, they add their margin to ensure they make a profit.

It's worth noting that bookie margin can vary significantly between different bookmakers and different markets. Some bookies might offer better odds on certain events to attract more customers, while others may have lower margins overall but offer worse odds on specific markets. As a punter, it's essential to shop around and compare odds from different bookmakers to ensure you get the best value for your bets.

So, how can you use bookie margin to your advantage? One way is to look for markets with low margins. These are markets where the odds are more in your favour, and you have a better chance of making a profit. Another way is to compare odds from different bookmakers and choose the one with the lowest margin for the market you're interested in.

In summary, bookie margin is a crucial concept in punting that you need to understand if you want to make money as a punter. It affects the odds you are offered and can vary significantly between different bookmakers and markets. By shopping around and looking for markets with low margins, you can increase your chances of making a profit in the long run.

Remember to gamble responsibly piggies! Be smart with your coin.