When it comes to successful bookmaking and sports betting a basic knowledge of math and how it is used to determine odds is an absolute must. For bookies, a working knowledge of math and odds allows them to understand the lines that come out of Vegas. Without math skills they would essentially be accepting wagers on blind faith not knowing if they were truly getting the edge they need to be profitable.
Sports betting handicappers, on the other hand, are doing the same thing from the opposite side of the table. They use math to re-calculate the odds as they think they should be and use this info to spot chinks in the armor of the bookies. It has been demonstrated, time and again, that gamblers who have above average math skills also have above average success in betting.
It may seem odd to some people that we have to point out that good math makes for good bookmaking; or that sports betting is a lot easier when you understand the value of numbers. The fact is that in this day and age of modern sportsbook operations the computers are doing most of the work for both players and bookies alike. Math was an essential skill for old time bookies back in the day. Now much of that skill has been lost as the reliance on computers has increased.
When a bookie has a solid understanding of the odds and the math behind them he is better able to spot when he is getting picked off by a wise guy. He will know when a “soft number” is hanging and will take note of the players who bet it. On the reverse side, when he sees a player come in on the wrong side of a “loose line” he knows he has a square bettor who should be encouraged to bet as much as he can.
Take the time to bone up on your math skills and search blogs like ours for articles that will give you a deeper understanding of the business of bookmaking. Even though pay per head shops help to make a bookies life easier than ever, if you lose your edge you will quickly lose your money as well.
