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What is a Bookmaker?

 

There is an ancient Chinese saying, “If you know your enemies and know yourself, you will not be imperilled in a hundred battles; if you do not know your enemies but do know yourself, you will win one and lose one; if you do not know your enemies nor yourself, you will be imperilled in every single battle”. To be able to win, you have to first know what you are going up against actually.

 

It would be a fatal mistake to regard your bookmaker as someone who simply collects your bets and deals with your payments, as he has a much bigger role to play than that. He is, in layman’s terms, your direct ‘opponent’ in betting as you are pitting your wits against his by using money. Outwit him and you fill your pockets instantly. Lose and he will bleed every single cent from you dry.

 

The bookmaker is responsible for calculating the odds of the match, such as which team is determined to be the favourite or the underdog. Usually, the odds will tend to be in his favour so as to maximise his own personal profit margins. You would be foolish to even think of being able to profit by betting on all three outcomes of the match itself, as the odds are meticulously calculated by each and every single one of the bookmakers in the industry so as to ensure their long-term futures and prospects in this business.

 

Betting can be considered to be a form of instant investment, presuming that you bet wisely, and might seem profitable for people who are looking for short-term gains and fast cash. Hence, the bookmaker is the ideal agent to carry that out.

 

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