Let’s say I bet $1000 to win $300

And bet $100 on the other team to win and I’d net 1100

No matter what you make money or break even

Mind blown if true

Bump for infinite money glitch

You have it backwards. The casino always wins if you bet both sides. You are guaranteed to lose a small amount.

There is a strategy called "betting the middles," which takes advantage of arbitrage. Different casinos will have slightly different betting lines, so it is possible to take both sides and win both bets if it hits exactly in the middle. You will almost always lose, but very rarely you will win both bets.

i thought about this long ago. Ive won a few racetrack bets and tried to figure out an algorithm that could beat the track and always have a small win nuff to not work but sometime make a lot.

cant be done.

HOWEVER there are really good horse bettors who somehow have systems that they know where the winners are that for sure. at least re: the odds...not literally the first horse. they dont share that info. they know how to place bets optimally for the right picks.

I believe technically hedging is protecting yourself by covering the possible outcomes. It actually reduces your collect.

The sure win obtained by betting across disparate markets is arbitrage.

Arbritage requires betting exchanges, which don't operate in the States. Plus the bookie traders look out for & ban people that are using these kind of methods. Bookie odds themselves have a built in margin so they win every time, whilst exchanges use commissions for their edge.

who creates these odds?

I’m trying to understand how bookies make money and how they can lose money

Why isn’t everyone a bookie then?

This is the standard way to take bets and guarantee to win.

https://en.m.wikipedia.org/wiki/Parimutuel_betting

The gamblers add money to a pool. A commission is taken out of the pool (profit for bookie). Outcome prices (odds) decide how much is returned as winnings and they are mathematically adjusted in accordance with how much has been bet on that outcome.

Or more correctly the prices are collectively adjusted to ensure less is given back than is put in to the pool.

The bookie traders price the odds as a probability of it happening. If an event has a 50% chance like a coinflip then the bookie will price this at say 10/11. This is like why roulette tables have the '0' so that over time they'll always profit. Becoming licensed as a bookmaker is a ballache & waste of time. You can however essentially act as a bookie on an exchange like Betfair by laying bets for other players to take.

The odds are made and adjusted by linemakers that work for the sportsbooks. They obviously set the odds so the situation you describe never happens. The goal of the linemaker is to balance the odds to keep the money on each side balanced so they profit from difference in payouts of both outcomes. They lose money if the betting gets overly skewed to one side and that side pays out. That is why you will see odds change. When the linemakers see too much money going to one side they change the odds to be more favorable to bet the other side trying to draw money over there to balance it out.

Not true.

What you can do is.
Ive been saying this time & time again but none of you want to believe it.
Do your homework on snooker players. Wait for a tournament to start, live bet for every round & winner. If theres mark shelby against some rookie rank #1063 you know mark is taking that chit, no objection. Watch when the balls are in good spots and its your boys turn, then bet. It lowers the odds but its fool proof. If the balls are spread well NOBODY in the top ranks is missing a shot. Noobs miss alot, they get nervous. Every time sullivan is against a rookie early tournament the rookie is always full of sweat, fidgeting, he knows its over.

I havent done this because i end up staying untill late tournaments. But if you can just stick to doing early & mid tourny & can walk away after you start losing more. Then its pretty much a infinite money glitch srs

it's called arbitrage betting and sites have software designed to catch this. you can do it sometimes but sites catch on. it's best to use multiple sites. and bet them live at +odds

Weird sh*t happens all the time in sports man. Lost count of how many greyhounds & horses priced at 200/1 have come in. I've found inplay betting on football to be pretty dangerous myself. It's difficult to keep your cool & discipline in the moment when things don't go your way, that usually ends with chasing like a degenerate.

Bookies never lose they set their lines by sharp action (guys who regularly win). They use this to set lines and then take public action and if a line has heavy money coming in on it the line will move.