Anyone who is mathematically minded will be able to take a look at any betting market offered by any bookmaker, and be able to work out what the over-round of that betting market is.
What most people however cannot work out or even get their heads around is what exactly over-round is. In layman’s terms it is simply the amount of theoretical profit bookmakers would make of each betting market he or she offers their customers if those bookmakers’ customers placed an equal number of bets on every possible outcome on that betting market, in regards to the odds offered on them.
So for example if a bookmaker is offering a betting market and the over-round is 5%, then they are going to make a 5% profit on the total amount of wagers placed on that betting market no matter what the outcome of the sporting event, as long as it is balanced, with no huge amounts placed on just a small number of betting opportunities on that betting market.
At the end of the day the odds offered by any bookmaker are always going to be subject to just how much cash they have coming in on certain outcomes on that betting market, those that have attracted a lot of money will have short odds and those with very little money placed on them will have much higher odds.
There have been calls for bookmakers to be forced to limit their over-round, for any bookmaker can have a huge theoretical profit on some betting markets by offering low odds. However, punters are not stupid and they know to get the best odds they should shop around, and trying to legally force bookmakers to limit their over-round is going to prove impossible and an utterly pointless thing to do.
Huge Competition between Sportsbook
Bookmakers, betting sites and Sportsbooks do have something of a daily battle on their hands to try and get as many punters placing bets and wagers with them as they possibly can do, and it is very true to say competition between betting sites in general is huge and very fierce too.
As such you are going to find that if you do have an interest in placing sports bets on any sporting event, then it is going to pay dividends for you to shop around and actively hunt down the best odds possible.
That is not as hard as you may think and is certainly not going to be time consuming these days, for you are going to be able to use an odds comparison website and by doing so you have to enter into it what the sporting event is you wish to place a bet on and the bet type of want to place your money on, and you will then instantly be presented with the currency real time odds from many different betting sites.
As such you are going to then be able to see instantly which betting site is offering the best odds, and can of course then choose to place your bets at those odds in real time too.
Promotional Offers Can Offset Over-Round
One thing that you should always keep in mind, if for whatever reason you are limited in regards to the number of betting sites you can sign up to and bet at is that even if those betting sites do have something of a high over-round you can often offset it and massively reduce it by the use of promotional offers and deals.
That could entail you looking around for things such as best odds guarantees, money back bonus offers and also deposit match offers and deals, for those types of promotional offers can give you lots of betting value, and ensure you do get a fair crack of the whip in regards to placing a winning bet.
Those of you who have mastered the true art of picking winning betting opportunities and also have mastered the art of understanding betting odds in general will be best advised to consider opening up an account at a betting exchange.
By doing so you are then going to be able to ask for the odds you want on any sporting event, or if you prefer you can lay odds placed by other punters at that betting exchange and offer them the odds you want to offer them, meaning for all intents and purposes you become a bookmaker yourself.