A Brief and Imperfect Guide to Bookmaking Choices

Which bookie should you use? Which bookmaking service is best?

I think too much is made of this to be honest. Yes, if the bookmaker or sportsbook gives slightly more favourable odds, this is an advantage. But if you don't use appropriate judgement and identify great value bets then getting slightly better odds won't save you.

Still, you might as well find a good bookie. Firstly, and this goes without saying, make sure that the company is reputable and that it is legal for you to bet with them.

Then, you want to make sure that they are giving the best odds you can expect. Check to see what kind of percentage they take by assessing the odds they offer. Check how much of a cut they take on events when there are two options (eg the winner of a basketball game), three options (eg the winner of a soccer match or any other event where the draw is a potential outcome) and many options eg the winner of the NFL or the English premier league.

When you add up the odds, the size of the difference between the total and 100% is the sportsbook's cut. For example, if the total is 115% the bookie is taking 15%.

I tend to use Betfair for most of my bets. Betfair operates a bit differently - their odds are set by the punters and not by Betfair - and Betfair then take 5% on the winnings (this drops to as low as 2% if you are a big punter). They publish the total percentage of the odds on their site (in major events it is usually less than 101%) and you then add the 5% to work out how far your eventual odds differ from fair odds.

Betfair are a good benchmark - when comparing odds across various bookmaking services if you find a site where they are taking a cut greater than 5% then have second thoughts about using them.

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