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Bookmakers and casinos give themselves an edge and 99% of people fall into their "trap". How do they do this and what should be avoided?

Let's look-at the example of roulette in a casino.

On the surface, it looks OK. 36 numbers, choose one and acquire 35-1 if you're correct right? Wrong. almost all people forget that you'll find actually 37 numbers including zero (or maybe 38 with a double zero on American roulette). This make a big difference in regards to payouts. So just using European roulette, let's crunch the numbers.

If you choose one number, the actual odds of getting that number correct is 1 in 37 or 36-1. So by offering 35-1, the casino has instantly stacked the odds ever so subtly in their favour. Just the reduction of 1 point gives the house an edge of around 2.seven percent. Not really a lot you may think but over the course of Ł100,000 that is Ł2700 in favour of the casino. A small margin but a margin nonetheless.

So what about red/black or odd/even? Again, it could appear to be a 50/50 bet. But with the inclusion of zero, you truly have an 18 in 37 chance (48.65%). That favours the house by 1.35% which over the course of one day, could equate to thousands of pounds.

But this really is nothing compared to bookmakers.

As I've demonstrated, a "50/50" at a casino is actually a 48.65/51.35 against you. At bookmakers, the margin is significantly greater. A seemingly 50/50 bet can be priced up at 9/10 or 1.9 in decimal odds.

Consequently the bookmaker is giving themselves an enormous 10% margin on these kind of bets, the most common of which are called "handicap bets". The handicap bets are set up in such a way that there are only two possible outcomes, rated as equally likely. But regardless of what your decision is, the bookie stands to keep 10% of the specific odds. Not fair, you might think. Well, they're not going to give you anything for free. They're in the business of making money after all.

So how can you counter these edges?

It really is possible with bookmakers to work with a system of "handicap doubles". I will explain this at another time. Otherwise, only good online gamble fortune will counter a bookie's edge and that's not something to depend upon.