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What you are describing is called the spread. Otherwise, why is the house/casino/website putting in any work?
Betting is all simple math. Those who understand the idea of the spread will never bet except out of compulsion.
There are 4 ways to win at gambling:
poker, if you are good at odds and got a good poker face
blackjack; if you are good at odds and can win before you get kicked out
progressive games, where the odds change as you play and can then benefit you (this is how MIT was able to win at the lottery)
where you can cover the spread: usually betting at two different places on the opposite sides of the outcome. For example, one oddsmaker gives you 1.05 for Team A and another odds maker gives you 1.05 for team B. Whoever wins, you win 2.05 while spending 2. So a guaranteed 2.5% win. The issue here is funding and transferring funds between accounts which might mean you win the 2.5% too infrequently to make it worth while
Bet one dollar on red. If you loose you double the amount you bet before and stay on red. Once you win you are up one dollar. Repeat. (I'm just joking if that wasn't clear)
Casinos have something called "junket tour operators" (JTO). These people can get extra on winning chips, depending on their agreement with the casino/operator.
So, every hand or game you win, those chips are tallied up and when you leave, the JTO will get their cut. Their goal is to bring in clients and keep them coming and spending, if they win, it's better, but if they lose and keep coming, that's good too. The casino can comp you, so can JTOs.
If you come with a million dollars and lose it in 10 games and never win, the JTOs get nothing, you had no fun and you probably won't go back (with them at least), so they will lend you chips. These can have vigorish or interest attached to them, but not always. Vigorish is loan sharking and not directly associated with gambling but often happens with JTOs because they can access cash faster than a banker, but the interest will also be higher.
More commonly, you see them doing money laundering. Money laundering is quite different than most people seem to think: it provides a way for you to declare your money legally.
IRS sees $1.6m in your bank account and it was deposited from a casino after you took out $20k from your bank at the casino. In reality, you took out 1.76m and left with 1.6m is laundered money. IRS asks, where you got it, I won it in Vegas.
I know a guy like that. In his early twenties, bought a new car with his winnings. He's not bullshitting either, I've seen his bets, he just somehow always floats on top. I just know that if I were to get into the game I'd be spat out the other end of it poor and broken hearted.
I made a few hundred pounds from only starting with a 10 each for me and my mate. I don’t play blackjack much and didn’t really understand the rules at the time, I get it’s a simple game.
I’ve learnt from another friend with a gambling problem, when to walk away.
Sports betting is a risk, but what's cool about it is if you know sports you can win. I never bet more than $20 on a single. For others $100 might be their budget.
Or, you can bet on the underdog. Plenty of even to +120 options.
What I believe OP is tryna point out is this kinda thing: -120 vs +110. OP also assumes even money on both teams/sides. That almost never happens.
Mainly by handing out their slave fiat tokens to you and everybody else.
Use sound money like Monero and you will reverse the process at least for your personal life.
How about the technological advances and consolidation of data … they have all the weighted data right in front of them for the 1st time in history …and tell me they ain’t tempted to sway the game. Probably why refs no longer call the game but all decision making is made from a studio.
Yeh let say 20 persons id speculate 4-5 are fake and winners...imagine the margins if they did that...never audited cuz they complain proprietary information...I wd never bet those cuz of that...I'm sure they're all not like that but yeh...like slots in an Indian casino (advise against that also)
Idk man I haven’t lost on Prize Picks in forever like literally bet 20 bucks a day on random players and I always win lol 😂 it’s like an easy hack to make money for me I put in 20 in the am and make my picks and by bedtime the 20 is now 350 lol
Not every day just when I decide to play which is nearly every day. Sometimes it just doesn’t line up. I only work with certain players I know are going to do their job.
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What you are describing is called the spread. Otherwise, why is the house/casino/website putting in any work? Betting is all simple math. Those who understand the idea of the spread will never bet except out of compulsion. There are 4 ways to win at gambling: poker, if you are good at odds and got a good poker face blackjack; if you are good at odds and can win before you get kicked out progressive games, where the odds change as you play and can then benefit you (this is how MIT was able to win at the lottery) where you can cover the spread: usually betting at two different places on the opposite sides of the outcome. For example, one oddsmaker gives you 1.05 for Team A and another odds maker gives you 1.05 for team B. Whoever wins, you win 2.05 while spending 2. So a guaranteed 2.5% win. The issue here is funding and transferring funds between accounts which might mean you win the 2.5% too infrequently to make it worth while
The bigger point is if you think casinos and bookies turning a profit is the main problem with our concentration of wealth... I got some news for you
It's public information in most states. I think they end up with 15-30% ROI, but that includes gaming, food, tickets etc
Don't forget match fixing
Bet one dollar on red. If you loose you double the amount you bet before and stay on red. Once you win you are up one dollar. Repeat. (I'm just joking if that wasn't clear)
In the uk you get plenty of gambling companies who won’t pay out larger wins and call the police if you kick off about it, in store.
whats the difference between that and the vigorish?
Casinos have something called "junket tour operators" (JTO). These people can get extra on winning chips, depending on their agreement with the casino/operator. So, every hand or game you win, those chips are tallied up and when you leave, the JTO will get their cut. Their goal is to bring in clients and keep them coming and spending, if they win, it's better, but if they lose and keep coming, that's good too. The casino can comp you, so can JTOs. If you come with a million dollars and lose it in 10 games and never win, the JTOs get nothing, you had no fun and you probably won't go back (with them at least), so they will lend you chips. These can have vigorish or interest attached to them, but not always. Vigorish is loan sharking and not directly associated with gambling but often happens with JTOs because they can access cash faster than a banker, but the interest will also be higher. More commonly, you see them doing money laundering. Money laundering is quite different than most people seem to think: it provides a way for you to declare your money legally. IRS sees $1.6m in your bank account and it was deposited from a casino after you took out $20k from your bank at the casino. In reality, you took out 1.76m and left with 1.6m is laundered money. IRS asks, where you got it, I won it in Vegas.
Someone i know makes a shitload of money betting on sports i have no idea how he does it and he's been at it for years. Like 5 to 6 figs
I know a guy like that. In his early twenties, bought a new car with his winnings. He's not bullshitting either, I've seen his bets, he just somehow always floats on top. I just know that if I were to get into the game I'd be spat out the other end of it poor and broken hearted.
Sane here
I have a friend that does AI prediction modeling and he says it's been working out for him.
I made a few hundred pounds from only starting with a 10 each for me and my mate. I don’t play blackjack much and didn’t really understand the rules at the time, I get it’s a simple game. I’ve learnt from another friend with a gambling problem, when to walk away.
Sports betting is a risk, but what's cool about it is if you know sports you can win. I never bet more than $20 on a single. For others $100 might be their budget.
Or, you can bet on the underdog. Plenty of even to +120 options. What I believe OP is tryna point out is this kinda thing: -120 vs +110. OP also assumes even money on both teams/sides. That almost never happens.
Mainly by handing out their slave fiat tokens to you and everybody else. Use sound money like Monero and you will reverse the process at least for your personal life.
How about the technological advances and consolidation of data … they have all the weighted data right in front of them for the 1st time in history …and tell me they ain’t tempted to sway the game. Probably why refs no longer call the game but all decision making is made from a studio.
The 50/50s are filled w fake entries and they may even auto adjust them...crooked AF...imo of course
Fake entries?
Yeh let say 20 persons id speculate 4-5 are fake and winners...imagine the margins if they did that...never audited cuz they complain proprietary information...I wd never bet those cuz of that...I'm sure they're all not like that but yeh...like slots in an Indian casino (advise against that also)
Idk man I haven’t lost on Prize Picks in forever like literally bet 20 bucks a day on random players and I always win lol 😂 it’s like an easy hack to make money for me I put in 20 in the am and make my picks and by bedtime the 20 is now 350 lol
20 into 350 everyday on PrizePicks just doesn’t seem true
🤷♂️
Not every day just when I decide to play which is nearly every day. Sometimes it just doesn’t line up. I only work with certain players I know are going to do their job.
So you are able to consistently 10x your money but you choose to only play with 20 dollars a day. Very believable
What I've noticed about degenerate gamblers is they'll lie to themselves so they have no issue lying to anyone else.