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you don't really care... you just adjust the odds you are offering to balance the books with each bet and until you get good or get a nut you put limits on the
by grogenaut 2y ago
you don't really care... you just adjust the odds you are offering to balance the books with each bet and until you get good or get a nut you put limits on the bet sizes so it's easier to bin pack the bets. This was super common with sports bookies pre just holding the vegas line.
Get a huge bet on paul that you don't have offset? offer better odds on tyson till it balances. as a bookie your goal at the end of the day is to have the most total amount of bets on the book (say 1M in total wagers) where the money placed at the odds completely evens out so that at the end of the day you take 10% of 1 million for providing the market (the vig) and pay one set of betters with the other's money. In fact as the house you're just building creating your own arbitrage by inventing currency exchange rates.