Ubung 1 zu Gambling System PDF

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How gambling systems work: The chance of winning has to always be equal to or lower than the payout to the player. This is done using a weighting algorithm. For example, if there is a rare item with a chance of appearing once every 100 tries in a slot machine, the chance of hitting 3 of those is (1/100)^3, or 1/1,000,000. If the payout of this is $1 million, then the house will break even, but if the payout is lower, say $500 k, then the house will make on average $500 k out of that risk. Another symbol might be programmed to come up half the time, so your chances of hitting that symbol might be as low as (½)^3, or 1/8. If that pays out at 2 to 1, the house still makes a significant profit, but the player feels like they’re winning on a pretty regular basis. The par sheet determines the odds. Every modern slot machine is designed with a par sheet which specifies the weightings for each stop on the reel, including the blanks. That par sheet makes the odds and the house edge for a slot machine game a known quantity—for the casino. Gambling companies keep these par sheets under wraps, though, so players never really get a clear idea of what the odds, the house edge, or the payback percentage is. One final term to understand is “payback percentage”. This is a mathematical prediction of how much money the machine will “pay back” over an infinite number of spins. For example, if a machine is programmed to have a 97% payback, over enough spins, the average should come close to winning $3 out of every $100 put into the machine. Casinos distinguish between the theoretical payback percentage and the actual return on the machine, but you can count on one thing. Slots are immensely profitable for the casinos.

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“How bookies make money I found this scheme quite entertaining and enrolling that caused me to think about opening my own betting shop. All you actually need to do is to take the risk: 1.

First, a player bets on the possible outcome of the even that bookmakers offer. Usually, these are either sporting games, talent shows, political elections, or anything else that you can come up with. 2. If the outcome of the bet is “win or lose,” it means the chances of each side for victory is 1:1. As a result, the coefficient of this bet is 2:0 – the victorious side will get 2 wins and the one that lost – 0. 3. In reality, things are a bit different. Most betting shops make the coefficient for such a scheme 1,85 – 1,91. They call it a “margin.” Why is this done? To minimize the losses. Sounds smart, considering that with another players’ losses, they will get the profit and not break even. With this in mind, the conclusion is simple – bookmakers have several ways of receiving profit: lost bets; margins; understanding the audience’s demand and knowledge of its interests. Probably, the only drawback for a betting shop is seasonal holidays. The most popular sports for bookmakers are football, basketball, tennis, boxing, and racing. And as you know, most of them don’t run the entire year. That is why certain periods of their activities can be not as   

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profitable as others. Thus, they may offer to bet on different musical awards, political decisions, etc. How you can start a betting company After studying tons of information, I figured out that some companies can provide services for business creation from scratch. Actually, a process may be quite complicated to implement it by yourself, but it’s still possible. 1.

First of all, you will need a license. Going illegal may bring you unbearable problems up to permanent bans. 2. My next step was website design. From my personal experience, I can say that you should consider this step as the most important since a player must feel comfortable while making bets. You don’t want to scare all your visitors away with an inconvenient interface or an unexpected crash. 3. In order to start making money, you need someone (or figure out it by yourself) to configure your bets. If you make them too high, you will receive hardly any profit; if they are too low, people won’t be merely betting at your shop. What are the possible issues you may encounter? Well, the first thing that displeased me was the professional players. That is the way you are going to lose money. The good news is that there are many more amateurs that usually have no sufficient information about the event. This is the way you are going to make money. You may also find a lack of promotion place since huge betting offices have already occupied the most lucrative places with their never-ending ads. Well, here is what I did – I contacted local sports pubs, stadiums,

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websites that only covered the nearby citizens and agreed with them on the promotion. I did this in several regions, and it actually worked. People started appearing by themselves since once you make the first clients come, they will tell about you to their friends. How to stay afloat My tip for the inexperienced businesspeople is simple – proper information is the key to prosperity. You need to keep your betting shop up-to-date and make your clients feel comfortable. Just another thing to mind – if any of the preparation processes may seem difficult for you, it is a good idea to resort not only to forum users but also professional who will be able to adjust everything according to your needs. Fingers crossed for my brief guide to be helpful for you. I hope that my experience wasn’t in vain.”

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The margin Also known as the 'juice', 'overround' or 'vigorish' (depending on which side of the Atlantic you originate from), this is essentially the cut that the bookmaker takes from each bet placed, you could call it their commission. Let's illustrate it as follows with my usual heads and tails example. "The probability of the coin toss landing on heads is 50%, which is an evens bet, or 2.0 in decimal terms. Were a bookmaker to offer you those odds then after an infinite number of bets placed on heads you will be right back where you started. No win, no loss." Whilst this is no win, no loss for the punter, it is the same for the bookmaker. They get nothing out of offering such odds which is why they build a margin into every odd that they offer, an unfavourable discount against the true odds. If a bookmaker were to offer odds on our coin toss, there is a good chance that they would be as follows: Heads 10/11 (1.909 in decimal terms), Tails 10/11. Bet your £10 on heads, if it lands then they will payout £19.09 (£10 original stake plus profit of £9.09). Throw the coin 500 times with 500 people betting heads and 500 people betting tails and these are what the numbers look like from the bookmaker's point of view: Bookmaker takes £10*500*2 = £10,000 If 500 tails bookmaker pays out £10*500*1.909 = £9,545.46

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If 500 heads bookmaker pays out £10*500*1.909= £9,545.46 In fact any combination of heads and tails thrown in your 500 spins will cause an identical payout of £9,545.46. It is this bookmaker profit of £454.54 that is the margin, or in percentage terms 4.55% (454.54/10000). Why is this useful? To know the bookmaker's margin tells us not only what the bookmaker is making out of a market where they have a 'balanced book' (i.e. where they will payout equally regardless of outcome), but more importantly it tells the punter how far away from the true odds their bet is, or in simple terms, how bad the bet is likely to be. Anthony Joshua and Wladimir Klitschko fight in a few weeks time and 3 bookmakers have the fight priced as follows: Pinnacle Joshua 1.473 Klitschko 2.85 188BET | Sportsbetting and Live Casino. Join and Play Now Joshua 1.38 Klitschko 3.00 NetBet UK: Online Casino Joshua 1.39 Klitschko 2.7 To calculate the margin we add the reciprocals together so: Pinnacle (1/1.473) + (1/2.85) = 1.03 or 3% Margin 188bet (1/1.38) + (1/3) = 1.06 or 6% Margin Netbet (1/1.39) + (1/2.7) = 1.09 or 9% Margin As you can see the margin, or commission charged by each of the 3 bookmakers is markedly different. Bookmakers often have the same, or

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similar margin across their site, or they may apply slightly different margins dependent on the sport, but you are unlikely to find a bookmaker with high margins on one sport but low on another, if they are good they are good, and if they are bad, well, they are bad. This is important because most punters are loyal to 1 or 2 bookmakers, so before deciding who to plump for, just look into their margins a little because over the long run it is going to make a huge difference to their, and more importantly, to your pocket.”...