My article from last week on ‘bookie tricks’ certainly seemed to stir up plenty of interest and debate!
Not only did a number of you get in touch to add your own suggestions, but I also heard on the grapevine of one bookmaker who hates what we are doing here at the Smart Betting Club – which is a justification to me that we are doing something right!
So, today we have more of the same to share with you.
As a quick re-cap, the intention of these tips are to highlight some of the often subtle bookmaker practices that as a winning punter, it pays to be aware of.
Despite their protestations otherwise, the bookmaker only wants you to lose money and will often stop at nothing to squeeze your betting profits in order to swell their own coffers.
So here without much ado are another 6 ‘bookie tricks’ to watch out for!
Ignore bookmaker stories on big betting wins
You know the drill here. Punter gets ridiculously lucky with a 12-leg accumulator and turns £8 into over £100,000 thanks to the success of one bet. That’s an actual recent story from William Hill who attempted to put a brave face on the losses they made by spinning a good news story out of it. You will read other similar stories in the press and often they are on bets or markets the bookie wants you to bet on (they make more money than lose long-term with them).
It’s the same as big National Lottery jackpot wins – they are as rare as rocking horse dung and completely unlikely ever to happen to you. Yet by writing up stories on the very few who do get extraordinarily lucky, it makes it feel more real or even possible. Fact is, it’s not!
Watch for Bookie PR men talking of ‘a big gamble’
Be very careful whenever you see a bookie quoted as talking of big gambles or where they have seen oodles of money for a certain bet. Very often, they are simply talking up a bet they want you to take (i.e. one they feel is poor value) and stirring up a hornets’ nest in the hope of extra clamour to pile on at odds far too small. Often the media is desperate for a story and the bookies take advantage, filling airtime and column inches promoting a bet they want you to take. Next football manager markets are a prime example of where they do this.
Check Your Payouts After A Winning Bet
It’s also vitally important to check each bet has been paid out properly. I have experienced a wrong settlement on a bet in the past, and have had to contact the bookmaker directly to get it resolved. Often this is a simple mistake but other times it can lead to all kinds of frustration with a refusal to settle a bet in the way you feel it should be.
In some extreme cases such as Coral’s short-sighted refusal to honour a 485/1 winning bet, this resulted in outrage and a campaign to boycott the bookmaking giant. Either way – it pays to check the bookies is settling your bets right or it can be very costly for you (or the bookmaker).
Know Your Bet Terms & Conditions
No two bookmakers are created the same and its certainly the case when betting on sports such as Tennis (where they have different rules on what constitutes a winner in case one player retires from injury). Some bookies such as Ladbrokes settle a bet as a winner after just one ball is served (even if its by default through the retirement of his opponent). Others such as Betfair, require one set to be played, whilst some bookies such as Bet365 will only settle if a game is completed. In other words if you bet on a player who wins but as his opponent retires (even if he does so at 6-0, 6-0, 5-0) then its voided.
This is not just relevant to Tennis but any sport you bet on. So make sure you understand the terms and conditions (everybody hates small print, but the bookies will do everything to protect themselves).
Watch Your Place Bet Terms
If betting each way, be very sure to double-check how many places each bookmaker is paying out for. The differences can be vast especially if taking advantage of ‘enhanced place odds’ where you might get paid out on the first 6 with one bookmaker, whilst another only offers the first 4. The bookies take advantage of punters ignorance, especially in big-field handicap races or golf events by offering measly place terms. The answer is simple – use a site such as Oddschecker who list the each way terms clearly at the foot of each market.
Finally…Don’t bet on the Grand National
It’s the race that stops the country but here at SBC we believe it’s also the race that rips off the punters and makes the fat cats even fatter (via the vastly inflated over-round). Back in 2010 it was as high as 155% and when you think that most races have an over-round of roughly 105% to 110% – it was a complete rip-off. The Grand National is but one race out of thousands every year and my advice is to not wager a serious bet in it. After all a winner at 10/1 on a cold Friday night at Wolverhampton pays out the same as a 10/1 winner in the National!
More Help Defeating The Enemy
As a punter we should never forget that betting is always a battle between ourselves and the bookmaker and so it pays to ‘know our enemy’.
For further help and expert advice on this topic, including the details on the top-rated tipsters who regularly hit the bookies where it hurts, you might like to consider a Smart Betting Club membership.
Our regular Tipster Profit Reports compare and contrast over 50 of the top-rated tipsters that we painstakingly track – many of whom have consistently helped our members make money betting.
So much so, that the bookies really dislike us…something that suits us right down to the ground!