Gambling...is it fair?



  • When we talk about bet365 and traditional bookies no one seems to win. well I believe 3% win and they will try to ban them.
    Maybe the odds are fair but we expect massive gains. If we set ourselves a yearly target of 40-60% maybe it would be very achievable...thoughts?

    The only time I made money was when I was so certain Haye would lose to Bellew due to psychoanalysis of his behaviour, and even then it could have been rigged or a lucky punch. In football terms its even harder as there are 22 players and staff to analyse and the tactics change throughout the game and again it can be rigged.
    I will still be gambling but only when i feel the odds are heavily in my favour and the opposition thinks they have an easy victory. When I heard ajax singing merrily at half time that was the perfect moment. Nothing to lose really but so much to gain.



  • Of course it's fair....

    Bookies normally take about 15% I think. So you have to be 15% percent better than the masses to win money generally given odds are driven by the masses. But its very difficult to beat the odds by 15% consistently.

    It's a business, you can't expect them to give you evens for a coin toss. If they didn't have a margin they couldn't make money and wouldn't exist.



  • Generally speaking though most of the time, you would be better off on the exchanges where the over round is normally less than 1%.

    You have to pay 5 % commission on winnings but that is still better than the 15% margin from the Bookies so the odds are more in your favour.

    Still have to assume you will lose though unless you know something others don't.



  • @mike778 fair yet 97% lose,



  • @kaka8 said in Gambling...is it fair?:

    @mike778 fair yet 97% lose,

    Why is that not fair ?

    They aren't going to give you cost price for your bet (evens on a 50/50), the same way a shop isn't going to give you cost price for a product.



  • @kaka8 If you're a good gambler, then you'll win money. If you're a dumb gambler, the bookies will love you. Simple as that, nothing to do with fairness.



  • i never said it wasn't fair, I was simply asking the question, that was taken as sarcasm i think. I profited 3 years running.



  • If you’re a good gambler, the bookies will suspend your account!

    That’s definitely not fair. They don’t need to make money off every single customer to be profitable, just the majority. Yet they act as if anyone who is winning consistently must be cheating them.

    I hope FI (and other start ups) steal enough of their trade that they all go bust.



  • It's definitely not fair as it's well known that bookies ban people who profit. Might not happen all the time but it does happen.



  • @kaka8 yet the 'only time you made money' was when Haye lost ?

    poorly worded ?

    either you made money for 3 years, or only made money when Hay lost...it cant be both



  • @Munchie63 aye poorly worded,
    I won a tenner tonight on portugal, I just mean a proper £2000 win. thanks haye...x2
    i always get greedy and go for the handicap bets see.
    I need to spot the real opportunities like the tottenham ajax game. they do come round a few times a year



  • @kaka8 ahh....the Paddy Power 10-49/1 bets :) I know them well

    I was 1 corner away from a 15/1 in the England game Thurs, and a yellow card away in the Swiss game (that ref left his cards at home I think).

    I only bet on football but try to avoid that now. Golf betting, with more places paid out used to be good. Had a blinding stats / betting guide that did the business. Never see a poor bookie though



  • Yeah it's definitely not fair that they can make so much money yet still ban gamblers who win. Something needs to be done about that. Being restricted to reasonable bets would be much fairer but banning them is awful behaviour



  • If your serious about betting why not use an exchange? Smarkets charge 2% commision. I find it baffling people still use bookies for large bets.



  • @Ben_pz said in Gambling...is it fair?:

    If your serious about betting why not use an exchange? Smarkets charge 2% commision. I find it baffling people still use bookies for large bets.

    Smarkets is 0% ( and so is Betdaq ) if you do Match Betting and are a member of OddsMonkey - best £15 / month you will ever spend



  • @bernardb Even better. I used to match bet heavily and arb horses. That would of saved me a lot of money



  • @bernardb recently signed upto oddsmonkey, its decent :-)


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