You've probably heard the question before: Do bookmakers like Favorites to win? It's a fair question, but there are some good reasons they might not. Here are five reasons why bookmakers love underdogs. If you're betting on a favorite, they're more likely to lose, which means that your winnings might not be as impressive as you expected. But if you bet on an underdog instead, you'll still come out a winner. Favorites are perceived to be the favorites in a given sport. Bookmakers make money by offering better odds on a favorite than their rivals. The bookmakers think the favourite shouldn't win, but the public wants him to. Moreover, bookmakers have a lot to gain if his team wins. That's why they offer higher odds than their rivals. However, that's not the case. The bookmakers don't like to lose, but a string of favourites winning at a horse racing meeting could certainly put a dent in their satchels. One such example was the Frankie Dettori Magnificent 7 at the Royal Ascot. Punters followed him around all day and cleared bookies for staggering amounts. This caused Gary Wiltshire to struggle to pay off his debts and was unable to return his money. In the case of horse racing, the bookmakers have to ensure that they are getting equal action on both sides of the game. A team that is popular will attract the most bets. Therefore, bookmakers will lower the odds of the favorite team, and increase the odds of the underdog. This way, the bookmakers are making money on both sides of the game. By adjusting the odds, they can ensure that they have a balanced book.
Another example is Tottenham's game against Hull City. If Tottenham win, the asia bookie stands to make more money. Hull's odds are higher than Tottenham's, and Betfair wants Tottenham to lose. Therefore, Tottenham fans should bet on Hull in order to balance the books. You might even want to consider placing a wager on the game as a draw. This will give the bookmaker more money - and keep them happy.
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February 2023
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