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Many of you who enjoy online betting and spend their time following betting trends and scores and odds on specific websites and forums may live under the inaccurate assumption that sportsbooks are really profitable. But the the fact is that, from the total amount of money wagered on any event, the sportsbook only gets a small percentage, more in the range of five percent and that’s considered a good percentage. Why? Well, this is what the “juice” is all about and for this reason a low juice sportsbook is greatly sought after.
For better understanding of the concept and in order for whatever you bettors to have the ability to find the best low juice sportsbook, let’s try to give an explanatory example. Assume the event you are betting on is a football game between the New York Giants and Chicago Bears and that the parameter bet is ten dollars. A low juice sportsbook will have a 11/9 quote. This means that should you bet $ 10 on the less favorite team, but they win, you will get an extra eleven in return, while every $ 10 that you bet on the favorite team will get you an extra nine in return, if they win. So, let’s pretend that the Chicago Bears are the favorites. If you bet ten dollars on them and they win, you will have nineteen dollars at the end. If you bet on the Gambling and they win, you’ll have twenty-one dollars at the end. It might appear unfair in the beginning view, but even the best low juice sportsbook can’t pay even money, because which will mean all the money they collect from the loosing bets goes to the winning bets. And the remained difference is the juice.
Now, of course that this percentage varies a little from one sportsbook to another and this is exactly why a bettor sometimes spends time searching for a discount juice sportsbook to make certain he gets the best revenue possible. All sportsbook have the same purpose, that of creating a balanced market. This means that they seek to have an equal amount of bets on both teams or sides. But, as you can imagine that is very difficult to achieve, therefore even the best low juice sportsbook may register money loss in short periods of time. But on the long term, the juice levels the balance.
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Any gambler should take the factor of juice into consideration before placing a bet. One must study the betting lines or odds of the event on several websites and find a discount juice sportsbook that is most advantageous. Informed bets are the best ones even if it happens for you to loose. In the end, it’s a gamble, is it not? Anyway, don’t forget that the odds may shift during the game, due to changes in the betting market. So it could be best if you can keep yourself updated all the while the event is certainly going on.
In online sports betting, everyone is looking to win some extra money and get the best possible profit. Therefore, sportsbooks are highly competitive and it should not be so hard to find the best low juice sportsbook for you!