Question by : Do online betting websites / bookmakers (not exchanges) charge commission on winnings?
Do online betting websites/bookmakers (not exchanges) charge commission on winnings?
Please give a source if you have one.
Examples of bookmakers are bwin.com ; bet365.com ; paddypower.com
Answer by Ptsie
No, they do not charge a commission. The bookmakers make their profit based on the ‘juice’ or ‘vig’. This is why you must risk 110 to profit 100. You win 100, while the person that loses that wager loses 110, the bookie takes in 220, but only pays out 210 making a profit of 10. That is instead of the commission structure of an exchange.
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