The other thing that bookies do to make money is to use a pay per head website that allows you to piggyback off their lines and betting platform. The more players you have, the more money you are going to end up making in the long run. So if bookies make money from players that lose when they gamble, then the best way to make the most money is to either have players that give a ton of action or to just keep acquiring new players that want to bet with you. That 10% juice on all wagers adds up quickly so even if a player wins half of his wagers, he will still end up losing money to the bookie, because of all the juice he lost on each of his losing wagers. In addition, all sports wagers have a vig which is generally 10% which means if someone wants to win $100 then they need to pay the vig or the juice which means they need to risk $110 to win $100. The good news is that gamblers always lose over the long term, which means that whatever the players’ losses will be money earned by the bookie. So whenever any of the bookies’ players make a wager he will always need the other team to win or cover the spread to make money.
So when someone makes a wager on the New England Patriots against the New York Jets, then the bookie needs the opposite team to win or cover the spread for him to make money on that wager.
Bookies are people who accept wagers at various sporting events.
