Every time a customer places a wager, bookies effectively charge a commission. But rather than outright charging a fee, they just lower the odds relative to their actual possibility.
They might now be assured of a profit regardless of who wins, supposing once more that they bet $10,000 on every player. Against the sum of $20,000 they have staked, their total payout would indeed be $19,100 in successful wagers. The overround, which is often represented as a % of the entire book, is responsible for the $900 differential.
They might now be assured of a profit regardless of who wins, supposing once more that they bet $10,000 on every player. Against the sum of $20,000 they have staked, their total payout would indeed be $19,100 in successful wagers. The overround, which is often represented as a % of the entire book, is responsible for the $900 differential.
