How do gambling sites make money?

[BufordT 371]

90% of peoples I know claim to make money or break even.  The other 10% say they only lose a couple bucks here and there. Doesn’t seem like a lot of money is to made with online gambling 
 

:shrugs:

[posty 2,296]

13 minutes ago, BufordT said:

90% of peoples I know claim to make money or break even.  The other 10% say they only lose a couple bucks here and there.

They are lying...

[Fireballer 2,383]

7 minutes ago, posty said:

They are lying...

This.  With what would be “standard” odds(-110ish) you still have to win over 55% to make it even worth your time.  You may know some good gamblers, but by and large, casual gamblers lose money.  You have to be in it for the long haul and have a bankroll of at least 10k to make more than most part time jobs.

[Cloaca du jour 2,064]

16 minutes ago, posty said:

They are lying...

This

[BufordT 371]

1 hour ago, posty said:

They are lying...

 

1 hour ago, Fireballer said:

This. 

 

55 minutes ago, Cloaca du jour said:

This

Gamblers are like politicians? Who knew?

[lod001 1,237]

90% are probably losers. I am +$95 right now on draft kings in my account but I'm also up 115% on my buy of draftkings stock.

I will only ever use others $ on it. I do have 3 accounts. mine, my wife's and I run my brothers as well. i took out my $25 matched deposit already. Their accounts are free. Wife has $32, brother has $15.50.

3 free events this weekend 2 in 2 hours, nascar chicago, tomorrow. It like having free scratch off tickets.

[joneo 529]

They take Strumey's business plan and do the opposite. 

[lod001 1,237]

Some puss called 'The Hulk' just got KO'ed in the 1st and cost me a shot at $250. 

[bostonlager 2,465]

Rake/juice 

[bostonlager 2,465]

And anyone deemed competent gets cutoff or severely cut limits. My max bet on player props at Bovada is $1.00

[BeenHereBefore 1,333]

FanDuel is loving my Horse racing picks of late! So far no luck at Charles Town either tonight.

[BeenHereBefore 1,333]

1 hour ago, lod001 said:

Some puss called 'The Hulk' just got KO'ed in the 1st and cost me a shot at $250. 

Should have waited to see if he turned green before you place the bet.

[Fireballer 2,383]

Parlays too

[BeenHereBefore 1,333]

2 minutes ago, Fireballer said:

Parlays too

I try not to do to many cause of course they lessen your odds of winning. Why the betting sites always have specials on them.

[patweisers44 697]

5 hours ago, joneo said:

They take Strumey's business plan and do the opposite. 

Let's Poker!

[RogerDodger 797]

Talk to me. 

[nobody 2,043]

The other strange things  about these winning players is if you start tracking their picks they give out before the events, they somehow aren't winning on those.  They only seem to win on the bets they don't give out ahead of time.  And then they always seem to get better odds than anyone else gets.  If some bet is +250, they always got it at +400.

 

[nobody 2,043]

3 hours ago, bostonlager said:

And anyone deemed competent gets cutoff or severely cut limits. My max bet on player props at Bovada is $1.00

That seems like a waste on their part.  If you're so good at betting props that they felt the need to refuse your business, they could limit you to a couple 100, and then follow your bets or let your action help them refine their lines.

[easilyscan 559]

10 hours ago, lod001 said:

90% are probably losers. I am +$95 right now on draft kings in my account but I'm also up 115% on my buy of draftkings stock.

Congrats! I lost about 2K on that stock. Watched it rise after the IPO, then bought when it came back down, but got in too early.

Most gamblers have selective memories. They only remember the wins. 

 

[bostonlager 2,465]

7 hours ago, nobody said:

That seems like a waste on their part.  If you're so good at betting props that they felt the need to refuse your business, they could limit you to a couple 100, and then follow your bets or let your action help them refine their lines.

Only one place follows your line of thought- Pnnacle and it’s only available in Europe. All of the newish places here in the US have quick triggers to the pull the plug on you.  2023 was the first year for Ohio so it will be my first football season with FD and DK. I don’t expect to last long. 

[nobody 2,043]

4 hours ago, bostonlager said:

Only one place follows your line of thought- Pnnacle and it’s only available in Europe. All of the newish places here in the US have quick triggers to the pull the plug on you.  2023 was the first year for Ohio so it will be my first football season with FD and DK. I don’t expect to last long. 

What was your win %?

[BunnysBastatrds 1,920]

Odds don’t lie They do.

[bostonlager 2,465]

4 hours ago, nobody said:

What was your win %?

College props I’m typically 58-62. Closer to 53-55 on NFL. 

[edjr 5,567]

On 7/1/2023 at 12:20 PM, BufordT said:

90% of peoples I know claim to make money or break even

                      

[nobody 2,043]

Surprised they cut you off at 60ish percent.  Aren't props usually limited to what you can wager anyway?  And then they usually charge the extra juice at -120.

You'd think you'd have to be getting them on volume to even notice you unless you were placing  10k bets minimum.

[GutterBoy 2,281]

I just checked my career stats on FanDuel.  I have about a 10% return.  Honestly thought it would have been higher.

[bostonlager 2,465]

13 minutes ago, nobody said:

Surprised they cut you off at 60ish percent.  Aren't props usually limited to what you can wager anyway?  And then they usually charge the extra juice at -120.

You'd think you'd have to be getting them on volume to even notice you unless you were placing  10k bets minimum.

I’ve had a few people sign up at Bovada so I can keep playing. Starts out $150 per and you quickly get cut to $50, then $25, $10, and the $1. You can get them for $5k if you’re patient, but after that they are done with you 

[lod001 1,237]

Was in 1st place in the free baseball $5000 payout game for a long time. Looks like a 7th place finish. Free $40. 

[KSB2424 3,083]

On 7/1/2023 at 12:20 PM, BufordT said:

90% of peoples I know claim to make money or break even.  The other 10% say they only lose a couple bucks here and there. Doesn’t seem like a lot of money is to made with online gambling 
 

:shrugs:

It’s funny and true.  Not so different than Facebook or Instagram.  We live in the most depressed, medicated time in history.  However if you only look at social media you’d think everyone is so happy, have perfect lives.  It’s all a lie, well more of half-truths.  

The only losses gamblers talk about are the “bad beats”.  Unless you find a crack in the matrix or are ahead of some curves the juice will catch up over time, 99.9% of the time. 

[MTSkiBum 1,594]

How do gambling sites make money???

 

Answer: Hand over fist

[Fireballer 2,383]

Anytime you hear someone talk about their success with betting, think about Phil Mickelson and John Daly.  I’m sure they had access to the sharpest of the sharps, and still lost tens of millions of dollars.

[JustinCharge 2,397]

On 7/2/2023 at 7:48 PM, KSB2424 said:

It’s funny and true.  Not so different than Facebook or Instagram.  We live in the most depressed, medicated time in history.  However if you only look at social media you’d think everyone is so happy, have perfect lives.  It’s all a lie, well more of half-truths.  

The only losses gamblers talk about are the “bad beats”.  Unless you find a crack in the matrix or are ahead of some curves the juice will catch up over time, 99.9% of the time. 

If you are ever depressed, just remember you arent Rusty

[bostonlager 2,465]

3 weeks until college football kickoff. It's player prop season. 

[Big Blue 06 195]

On 7/1/2023 at 7:59 PM, bostonlager said:

And anyone deemed competent gets cutoff or severely cut limits. My max bet on player props at Bovada is $1.00

This is 1000% accurate.

I’ve been hit with reasonably small limits at Ceasars, fanduel, draftkiings

DK so small that they are unusable.