What Exactly Is a Fun88 Id?
Under normal conditions, the Fun88 Id is the only party involved in a wager that is certain to win.
To remain in business, bookmakers must place bets that allow them to profit each time they accept a wager. As a result, bookmakers do not determine odds only on probabilities. They also include a margin to ensure they make a profit on each bet.
An Example of a Coin Toss
As an example, consider a simple coin toss for £100:
It’s a 50/50 probability because the outcome is either heads or tails. One person bets on heads, while another bets on tails. No matter who wins, the bookmaker must pay out the £100, leaving him with no profit.
That Would Be a Poor Business Strategy.
Assume the bookmaker reduces the payout to £90 instead of the correct £100. This is akin to offering 1.90 odds rather than the fair 2.00. Because our two punters are still betting £100, the bookie will make a profit regardless of the outcome, because he takes £100 from one punter and pays out £90 to the other, keeping £10 for himself.
This is the bookie margin, commonly known as the commission, “Vig” or “juice” in the United States. And it is this that makes betting so difficult since you must not only choose winners, but also do it at a rate of return greater than the bookmaker margin.
Surpassing the Margin
In other words, choosing 5 winners out of 10 with fair odds of 2.00 and no bookmaker commission would net you a profit. Picking 5 winners at ordinary bookmaker odds of 1.90 with a 0.10 commission off the fair odds of 2.00 would result in a 5% loss on your total investment.
How so?
We outlay 10 units, picking 5 winners at 2.00. | ||
|---|---|---|
5 winners x 2.00 | = | A return of 10. |
We break even on our outlay of 10 units. | Â | Â |
But with standard bookmaker commission on odds of 2.00 at 5%, we receive a return of 1.90. | Â | Â |
5 winners x 1.90 | = | A return of 9.5. |
We make a loss of 0.5. Or in other words, 5% of our outlay of 10 units. | Â | Â |
Decoding Betting Margins: Bookmaker's Cut and Its Impact on Returns
As you can see, when individuals talk about “beating the bookmaker,” what they truly mean is that long-term betting success requires beating the bookmaker margin.
The Juice, the Vig, the Margin, the Commission, the Take, the Percentage, and the Cut are all names for it. Whatever you want to call it, it's the cut of action that every bookmaker takes from the odds in order to make their business worthwhile.
And it varies from bookmaker to bookmaker, and even from event to event, with bookmakers occasionally giving special 'reduced juice' on specific leagues or tournaments to entice clients, offering bettors higher odds and better profits than those offered by competing bookies.
But what exactly are betting margins at bookmakers? How do you figure them out? How much commission do you pay on each bet, and how does it affect your betting returns?