Where Do Bookies Get Their Information

3/26/2022 admin

Where Do Bookies Get Their Information 10,0/10 3585 votes

Having your betting account limited is a frustrating inevitability for profitable sports bettors.

World Class Betting Tools. A bettor is only as good as the information they get. At Bookies.com, you can access some of the top betting tools out there, ranging from consensus pages like this NFL betting consensus that allow you to see where the public money is. Where do bookies get their information is a term that means how do bookmakers get and use information that allows them to compile odds for horse races. Where do bookies get their information is an interesting question, but the answer is not the same for all bookmakers. The best bookmakers compile their own odds using their own team of odds compilers that will study ratings, form-lines, statistics.

A ‘no limit bookmaker’ would be a godsend. Well.. ask and you shall receive. They do exist.

The odds fluctuate in real-time based on a simple supply and demand mechanism, like gold, a stock, a currency, or any other commodity openly traded – the more popular a candidate is with the betting public, therefore the more money bet on them, the shorter their odds become which ultimately translates to their% to win increasing. It's a simple enough question and one every bookie gets asked. How do we set the odds on Inter not losing at home again or Wigan sneaking victory over title-chasing Arsenal. Well it goes a little. Bookmakers do not generally attempt to make money from the bets themselves but rather by acting as market makers and profiting from the event regardless of the outcome. Their working methods are similar to those of an actuary, who does a similar balancing of financial outcomes of events for the assurance and insurance industries.

Personally, I think it’s pretty poor form to cut someone off for winning. Shouldn’t the possibility of losing be inherent in any company that’s built on competing with people? That’s what a bookmaker is, a company vs consumer proposition where they set every metric, aiming to stack it in their favour to win. Yet when they fail to do so, they don’t try and win, they call you a name and run away.

Where do bookies get their information check

Let me be crystal clear – If you are a bookmaker with max bet limits for all users (as they all have to) that is fine, it’s necessary as to not over-leverage yourself. What I have a gripe with is bookmakers identifying winners then limiting their accounts, individually, to unusable bet limits.

But you can hear me fire up at bookmaker limits here – Are Betting Account Limits Illegal?

For now, I’m going to laud the few shining lights of the industry. Those bookies that don’t limit accounts in that way.

First, I’ll break down the top ‘no limit bookmakers’, then I’ll get into a few of the alternative options for punters who keep having their accounts crippled. Let’s get into it!

The Good Bookies – Winners Welcome

This is a forever changing proposition, we’ve seen bookies change their policies within a day, we’ve seen people’s accounts go from flourishing; to $1 max bets, or even closed, with no warning.

Again, we’re looking for bookies that don’t limit individual accounts to unusable limits, a max bet limit in place to insure against a $100k wager that will over-leverage the bookmaker is not nefarious, it’s good sense. Let’s start at the top:

Pinnacle

The gold standard. Pinnacle is where recreational punters get bored, and successful bettors prove themselves.

There is no question, Pinnacle is the highest esteemed bookmaker in the world. No bonus bets or regular promotions to market to recreational punters. Just low margins and a terrific platform.

But, what we’re really here for is the ‘winners welcome’ policy. Pinnacle will never limit your individual account. Ever. In fact, they even wrote about how winning bettors help them sharpen their odds – Pinnacle Winners Welcome.

You’ll often hear profitable bettors brag about ‘beating Pinnacles closing line’, that is because it’s hard. With Pinnacle you aren’t looking for early odds mistakes like you might at a soft bookmaker. You are going against an extremely diligent team of experts who set the price, have plenty of resources, and who don’t publish their markets until they have done that research.

Prove yourself at Pinnacle, you’ve proven yourself everywhere. (Being profitable after just 50 bets and 1 month isn’t proving yourself, by the way 🙃)

Betonline.ag

Betonline.ag has undergone a full rebrand (a nice one), but thankfully, they are still in the category of bookies that don’t limit accounts.

What you’re getting here is complete max bet transparency, here’s their breakdown of the limits they have on each market – Betonline.ag Wagering Limits

I haven’t been allowed to bet with Betonline.ag (Curse you Aus betting laws), but, with transparent limits, a clean interface and 20 years in the game – they have certainly risen to the top tier of my respected bookmakers.

As with any sharp bookmaker, the negative here is market volume – with this business model these no limit bookmakers aren’t willing to compete against punters on markets they don’t have the resources or information to analyse diligently, those more obscure markets. Understandable.

Betonline.ag is a valuable asset in an ever-shrinking sharp bookmaker pool.

Bookmaker.eu

Bookmaker.eu has all the same qualities as the former, but this one can be used by punters from the US – the two bookmakers above don’t allow US punters.

Bookmaker.eu does not have a huge amount of alt-markets, less than those above in my experience. But I don’t think US bettors will be complaining as long as they keep allowing winners.

Another good option in a small market.

TopSport

TopSport is an Australian only site (Sorry, my Aus bias is showing again), Australia is notorious for harsh bookmaker accreditation laws, a limited bookmaker supply, and being a country who absolutely loves to bet (poorly).

There is a sea of Aus bookies that are ready and willing to cripple your account at the first site of profitability, then there’s TopSport. I had yet to hear of any profitable punters being crushed by their limits, so I reached out to the owner, Tristan, he had this to say regarding their limiting policies:

At TopSport we are very proud of the fairness we provide to all customers. We have never closed an account in our history, and we offer very fair limits to all players regardless of their profitability as we believe it is important for the industry to ensure sharp punters are able to get set to fair limits on all events. On premier events like the AFL and NRL, we guarantee all players can get set to win at least $10,000 on win and line options after the final teams have been confirmed on all games throughout the year!

Very much an ‘old school’ bookmaker, they cannot guarantee that they won’t monitor individuals, but they do have a fairness policy in place and high limit allowance for ALL punters.

They manage to have more markets than your traditional ‘Sharp’ bookmaker but a policy that still allows successful bettors to thrive. A welcome balance in Australia. Not a ‘no limit bookie’, but in context, a ‘fair limit bookie’.

Bookmaker Alternatives – No Limits?

As the online betting landscape developed, other options developed. Different types of bookies, and new ways to bet with completely different philosophies. If you can’t access bookies without limits, try your hand at these non-traditional options:

Betting Brokers

Betting brokers have taken a while to break into the mainstream among sports bettors, but over the last few years, they have been able to gain some trust and become a really viable option.

The concept is this; A bet broker is a middle man, you deposit your money with the broker, they place all bets for you as they have access to all the bookmakers you are limited on or that aren’t available in your country. Without limits. Usually.

Too good to be true? It does seem that way, multiple bookmakers and no limits – A bit suss.

But, despite the fact that some can charge commissions for non-affiliated bookmakers. Most of them are actually affiliated with the Bookmakers and earn commissions purely from the bookmakers. You’re free to bet commissionless – most of the time. A small caveat would be fees for deposits or withdrawals in some instances, be aware of that possibility.

The largest concern would be financial security. Brokers don’t have to jump through the same licensing hoops that bookmakers do, if they go bust, there are fewer legal systems in place and your money could be a bit in limbo. Having said that, SportMarket and BetInAsia have long-term reliability and plenty of people to vouch for them.

If you need no-limit betting, certainly consider betting brokers.

Betting Exchanges

This one seems obvious, betting exchanges don’t win when you lose so they are happy to accept your volume. This is true, I’ve written about Why You Should Use Betting Exchanges here, and Best Betting Exchanges here. But right now I’m going to argue the opposite.

It’s true, you have no max bet limits. But you can still be penalised for winning, have your income potential limited. Exchanges like Betfair, have rules in place that allow them to set higher commissions, often absurdly higher, for the top bracket of successful exchange bettors.

You may not fall into that top category, or you may still be able to find profit with those higher commissions – but, I would consider that a limit to your income potential, just for winning.

Now, back to the good. You can still bet with them, you’ll never have an account closed and they do benefit from your activity in the market. For Most, betting exchanges are a really good option to get away from the bookmakers that have limited you.

CryptoCurrency Bookmakers

The future is here. Okay, this one is speculative. There really isn’t a lot of information, or verifiable information, that can prove or disprove the reliability of Crypto bookmakers.

Let’s start with the good, this is completely anonymous. When doing my research for this article I decided to try and signup for a Bitcoin bookmaker, here, in the incredibly stringent and strict bookmaker licensing country of Australia, It took 30 seconds and all I had to give was a nickname. The law hasn’t caught up with Crypto, this is an anonymous currency that’s hard to account for within the law.

So I signed up anonymously and if I were to be limited (Which they claim not to do) I could simply make another account. So, seemingly they can be used without limits.

Now, the bad. You are sending a currency that the law hasn’t accounted for to a ‘bookmaker’ that isn’t licensed as a bookmaker.

I have already heard horror stories – So, all this is more of an idea and talking point, than it is a recommendation.

Tread extremely carefully and watch this space – this could be a whole new frontier of sports betting, or… fuel for 100’s of ‘they stole all my money’ stories.

Will There Be More Or Less ‘No Limit Bookmakers’ In 10 Years?

It’s a working business model – why wouldn’t there be?
There could be one big reason we don’t see more of them popping up over the next 10 years: The Law.

Bookmaker licensing used to be one of the things that lawmakers hadn’t caught up with, they definitely have now. If bookmakers continue to be banned in different countries, are hit with more national operational taxes, and have to jump through more hoops; country by country – there just won’t be enough profit in it for those low margin, non-restrictive bookmakers. It may no longer be a working business model. It paves the way for more and more bookmaker monopolies – none of which will be non-limiting monopolies.

But, I’m optimistic it won’t get to that point – Sharp, no limit, bookmakers work. It doesn’t hinge on weekly bonuses or their marketing budget, sharp bookmakers are a sustainable business model if the balance is struck correctly. So, in 10 years I think we will have more options.

More people are pushing back against bookmakers and the improper ways they discard winners and manipulate losers – as the debate continues, the stories come out, and the law adjusts; I expect to see even some of the current biggest limiting bookmakers, being pulled into line and forced to adjust their methods.

But, maybe I’m just a dreamer.

Bookies That Don’t Limit: Conclusion

It is a bit of a minefield navigating your way through bookmaker restrictions, changing laws, and changing bookmaker protocols as a profitable bettor. But, it can be done; It is done, by many.

If you disagree with any of the above, let us know – if any of the above have limited you, let us know. I don’t want to be wrong for a second longer than I have to be. If you know of any other verifiable bookies that don’t limit accounts, let us know. We’ll add them and share that information with everyone else that is sick of being limited.

Happy (Value) Betting

Bookmakers on a greyhound race course, Reading, Berkshire

A bookmaker, bookie, or turf accountant is an organization or a person that accepts and pays off bets on sporting and other events at agreed-upon odds.

History[edit]

The first bookmaker, Ogden, stood at Newmarket in 1795.^[1]

Range of events[edit]

Bookmakers in many countries focus on accepting bets on professional sports, especially horse racing and association football (soccer). However, a wider range of bets, including on political elections, awards ceremonies such as the Oscars, and novelty bets are accepted by bookmakers in some countries.

Operational procedures[edit]

By 'adjusting the odds' in their favour (paying out amounts using odds that are less than what they determined to be the true odds) or by having a point spread, bookmakers aim to guarantee a profit by achieving a 'balanced book', either by getting an equal number of bets for each possible outcome or (when they are offering odds) by getting the amounts wagered on each outcome to reflect the odds.^[2] When a large bet comes in, a bookmaker may also try to lay off the risk by buying bets from other bookmakers. Bookmakers do not generally attempt to make money from the bets themselves but rather by acting as market makers and profiting from the event regardless of the outcome. Their working methods are similar to those of an actuary, who does a similar balancing of financial outcomes of events for the assurance and insurance industries.

Legality[edit]

Depending on the country, bookmaking may be legal or illegal and is often regulated. In the United Kingdom, since 1 May 1961, bookmaking has been legal and has even been a small contributor to the British economy, with a recent explosion of interest with regard to the international gaming sector industry. However, gambling debts were unenforceable under British law until the Gambling Act 2005. Many bookmakers are members of IBAS, an industry organisation used to settle disputes.

Bookmaking is generally illegal in the United States, with Nevada being an exception due to the influence of Las Vegas. In May 2018, a United States Supreme Court ruling struck down the Professional and Amateur Sports Protection Act of 1992, which prevented individual states from legalizing bookmaking.

In some countries, such as Singapore, Sweden, Canada, and Japan, the only legal bookmaker is owned and operated by the state. In Canada, this is part of the lottery programme and is known as Sport Select.

United Kingdom gambling industry[edit]

The first bookmaker in the United Kingdom is considered to be Harry Ogden, who opened a business in the 1790s, although similar activities had existed in other forms earlier in the eighteenth century.^[3]^[4]

Following the Gaming Act 1845, the only gambling allowed in the United Kingdom was at race tracks. The introduction of special excursion trains meant that all classes of society could attend the new racecourses opening across the country. Cash flowed to the bookmakers who employed bodyguards against protection gangs operating within the vast crowds.^[5] Illegal betting shops were fined, but some, like Bella Thomasson, ran betting businesses that the police appeared to turn a blind eye to.^[6]

In 1961, Harold Macmillan's Conservative government legalised betting shops, with tough measures enacted to ensure that bookmakers remained honest. A large industry has grown since. At one time, there were over 15,000 betting shops. Now, through consolidation, they have been reduced to between 9,100 and 9,200 in 2013.^[7] The group of the largest bookmakers in the country, known as the 'Big Three', comprises William Hill, Ladbrokes, and Coral.^[8]

Improved TV coverage and the modernisation of the law have allowed betting in shops and casinos in most countries. In the UK, on-track bookies still mark up the odds on boards beside the race course and use tic-tac or mobile telephones to communicate the odds between their staff and to other bookies, but, with the modernisation of United Kingdom bookmaking laws, online and high street gambling are at an all-time high. A so-called super-casino had been planned for construction in Manchester, but the government announced that this plan had been scrapped on 26 February 2008.

Internet gambling[edit]

Although online gambling first started in 1994 when the licensing authority of Antigua and Barbuda passed the Free Trade & Processes Act, bookmakers did not get involved until 2001. They were forced to act when research at the time found there were eight million online players worldwide.^[9]

With the arrival of the World Wide Web, many bookmakers have an online brand, but independently owned bookmakers often still maintain a 'bricks and mortar' only operation as the software and hardware required to operate a successful online betting operation are complex and their costs are quite prohibitive; other bookmakers operate 'skins' or 'white label' websites, which they purchase from one of the large firms. The main websites require bets to be from countries where Internet gambling is allowed and from people over 18 years old. Some small bookmakers and startups purchase software from specialised white label solution providers. Since gambling products have a high conversion rate from one niche to another, most online betting websites also feature other gambling products such as poker, live dealer casino games, lottery, bingo, slots and other casino games. Controversially, the explosion in Internet gambling is being linked to a rise in gambling addiction, according to the UK's help and advice organisations for addicts, GamCare and Gamblers Anonymous.

Increasingly, online bettors are turning to the use of betting exchanges such as Betfair and BETDAQ, which automatically match back and lay bets between different bettors, thus effectively cutting out the bookmaker's traditional profit margin also called an overround.

These online exchange markets operate a market index of prices near but usually not at 100% competitiveness, as exchanges take commissions on winnings. True wholesale odds are odds that operate at 100% of probabilistic outcomes.

Betting exchanges compete with the traditional bookmaker. They are generally able to offer punters better odds because of their much lower overheads but also give opportunities for arbitrage, the practice of taking advantage of a price differential between two or more markets. However, traditionally, arbitrage has always been possible by backing all outcomes with bookmakers (dutching), as opposed to laying an outcome on an exchange. Exchanges, however, allow bookmakers to see the state of the market and set their odds accordingly.

With the increasing number of online betting exchanges, betting exchanges are now providing free bet offers in an attempt to lure customers away from the competition. These free bets are generally based on the size of the deposit made into the gambling account. For example, if a customer made a deposit of $20, the betting exchange would deposit an additional $20 for the customer to use.^[10] Free bet rules vary depending on the betting exchange.

Some bookmakers have even taken to using betting exchanges as a way of laying off unfavourable bets and thus reducing their overall exposure. This has led to insecurity from some TABs in Australia, state-run betting agencies that attempted to deny Betfair an Australian licence by running unfavourable ads in the media regarding the company. When Tasmania granted Betfair a licence despite these efforts, the Western Australian state legislature passed a law that specifically criminalised using betting exchanges from within the state; however, the law was later ruled to be unconstitutional. As a result, internet gambling in Australia required a new legal framework. The Interactive Gambling Act 2001 regulates the online gambling market in Australia, together with all its amendments. The last amendment was introduced on 13 September 2017. This bill states that online casinos, online poker and live betting is illegal in Australia. The Australian Communication and Media Authority (ACMA) is the regulatory body that is in charge of all supervising online gambling activities. Online sports betting is legal, however.^[11]

Bets are also taken via phones, using email and SMS text messages,^[12] though poker and other sports are more suited to other media. As technology moves on, the gambling world ensures it is a major player in new technology operations.

Most televised sports in the United Kingdom and the rest of Europe are now sponsored wholly or partly by Internet and high street bookmakers, with sometimes several bookmakers and online casinos being displayed on players' shirts, advertising hoardings, stadium signs and competition event titles. Sponsors are especially highlighted in the football category since football fans present a significant percentage of the target group the bookmakers serve.

Many of the bookmakers are sponsoring some of the major football teams in the major European football leagues,^[13] although Werder Bremen are currently fighting the German courts for the freedom to continue featuring bookmaker Bwin on their shirts, as Germany and France take action against online gamers. For example, as of 1 January 2020, Germany bettors will not be able to bet more than €1,000 a month. The latest amendment of the ITG states that. New online sportsbook laws are expected in the near future in Germany, as this law is only temporary: the expiration date is set to be on 20 June 2020.^[14]

The situation is not that strict in France, however. Online sports betting in France is divided into two sections: Autorité de Régulation des Jeux en Ligne (ARJEL) regulates online sports betting, while online horse betting is regulated by the law 'Decree 2010-498 from 17 May 2010. International bookmakers are allowed to enter the French market, thanks to the Law No. 2010-476 from 12 May 2010.^[15]^[16]

Where Do Bookies Get Their Money

With the recent banning of tobacco sponsorship^[17] and the significant commercial budgets available to the gaming industry, sponsorship by car manufacturers, alcoholic drinks, soft drinks and fast-food marketers is being rapidly replaced by sponsorship from gaming companies in the Far East and Europe.

The United Kingdom's Gambling Act 2005 introduced a new regulatory system for governing gambling in Great Britain. This system includes new provisions for regulating the advertising of gambling products. These provisions of the Act came into effect in September 2007. It is an offence to advertise in the UK, gambling that physically takes place in a non-European Economic Area (EEA) or, in the case of gambling by remote means, gambling that is not regulated by the gambling laws of an EEA state. The Gambling Commission is the body that makes sure all sites and operators follow the new restrictions. In addition to the Gambling Act of 2005, according to the new gambling bill, online gambling sites are only allowed to offer services within the United Kingdom, if they are registered at the UK Gambling Commission.^[18]

The situation is more confused in the United States, which has attempted to restrict operators of foreign gambling websites accessing their domestic market. This resulted in 2007 in a ruling against the US government by the World Trade Organization.^[19] However, common online gambling laws in the United States still don't exist - it differs from state to state. All forms of online gambling are illegal within the states of Utah and Hawaii, while the states of Delaware, Pennsylvania and New Jersey took a different approach: almost all forms of online gambling are legal in these states. These are the only US states where online casino sites can be legally registered. It is important to mention that Native Americans have their own gambling legislation - the Indian Gaming Regulatory Act of 1988. However, they need their state's approval in order to be able to offer their services online.^[20]