Question by D: How do bookies work is it just prediction on the amount of people that’s going to bet?
Or is it too complicated, is it to do a lot with estimates of how many people are going to go for different option? But, it would be easy if you could stop the betting on one option after it reaches a certain amount

Best answer:

Answer by Sandra S.
Yes, it is very complicated, but basically by adjusting the odds in his favor or by having a point spread, the bookmaker will aim to guarantee a profit by achieving a ‘balanced book’, either by getting an equal number of bets for each outcome, or (when he is offering odds) by getting the amounts wagered on each outcome to reflect the odds. When a large bet comes in, a bookmaker can also try to lay off the risk by buying bets from other bookmakers. The bookmaker does not generally attempt to make money from the bets themselves, but rather profiting from the event regardless of the outcome.

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