Horse racing is one of the most popular sports across the world. While it’s not a ubiquitous favorite among US sports enthusiasts, this ancient event has withstood the test of centuries. It’s still extremely popular in most parts of the world, and horse betting is one of the best ways to make money as a bookie.
Here, we’re going to discuss percentages in horse racing odds so you can develop a more well-rounded knowledge of betting strategies.
Calculating Horse Racing Odds
Coming up with racing percentages is a bit different than determining odds for other sports. Horse betting odds show the probability of a horse winning. They also show potential payouts.
Unlike other American sporting events, percentage-based odds are the standard for racebooks. You won’t see moneyline figures as often as you would on a football or baseball roster.
After determining horse betting odds software with the help of professional oddsmakers, you can put them in the appropriate form.
If a horse has a 9-1 chance of winning, the first number (9) represents the probability of losing out of the total. The second number (1) is the probability of winning. The total (10) comes from adding the two numbers together.
Divide that first number out of the total 10. 9/10 is 90%, which means that a horse has a 90% chance of losing. They have a 10% chance of winning.
Regardless of the numbers, remember that the percentage probability of losing + the percentage probability of winning must equal 100%.
Betting Market Percentages
As a bookie, you don’t just want to tell people the odds of a race. You want to determine ‘betting market percentages,’ also known as ‘book percentages.’ These percentages factor the price of betting into the overall odds so bookmakers can make money on their bets.
After dividing each horse’s decimal odds into 100, you need to add them together and calculate the total percentage.
Doing this is useful because you want the percentage to add up to more than 100. These odds are adjusted so that your sportsbook makes a profit regardless of how many people place winning bets.
You can think of book percentages as those with a pre-determined vigorish. You turn that small percentage of profit no matter what to ensure that your business remains profitable.
Building Your Racebook
Determining horse racing odds can be challenging, but Ace Per Head makes it a simple and efficient process.
Our expert oddsmakers are here to help you figure out racing percentages. They will look into past information about horses and jockeys as well as ongoing facts about the current racing season.
They’ll then give you appropriate racing percentages to put on your mobile-ready bookie site.
This makes the process easier for bookmakers, though you still retain complete control over your lines and percentages!
Is Sports Betting a Viable Career?
Are you considering starting a sports betting business from home? With the sports betting industry booming, understanding how to navigate this lucrative market is essential. In 2023, Americans wagered an astounding $120 billion on sports, marking a historic high for U.S. sports betting. As bookmakers thrive, many are diversifying into other forms of gambling, solidifying sports betting as a cultural staple that shows no signs of fading. But is venturing into sports betting a worthwhile career choice? The answer is a resounding “yes!” Below, we delve into the numerous benefits of establishing your own sportsbook.
Advantages of Running a Sports Betting Business
The benefits of entering the sports betting industry are substantial. First and foremost, you will have the freedom of being your own boss, allowing you to set your own hours. Whether you prefer traditional working hours or thrive as a night owl, you can create a profitable sportsbook that fits your lifestyle. Additionally, thanks to mobile-ready platforms like Ace Per Head, you can manage your business from virtually anywhere. Their user-friendly integrated dashboard is accessible on mobile devices, making it easy to operate your sportsbook while traveling. Finally, the financial rewards can be significant. While initial earnings may hover around $30,000, the potential to scale your business to $5 million annually is within reach, with some operators earning up to $100,000 weekly.
Setting Up Your Sports Betting Website
One of the most appealing aspects of starting a sports betting business is the ease of setup. By partnering with a reputable platform provider, you can choose from a variety of ready-to-use templates tailored to your needs. Professionals will work with you to incorporate your branding, odds, lines, limits, and specifications into a mobile-ready interface. This means your website can be launched almost immediately, allowing you to start accepting bets within a couple of days.
Strategies for Growing Your Sports Betting Business
A comprehensive guide to sports gambling wouldn’t be complete without discussing growth strategies. Flexibility is one of the most significant long-term benefits of operating an online sportsbook. You will have complete control over your website. Should you need to make adjustments or require professional oddsmakers to shift lines, simply reach out to our 24-hour agent hotline. Ace Per Head provides continuous support, simplifying your operations. Creating lines for new teams, players, leagues, and events is also straightforward. You can seamlessly integrate these updates into your all-in-one dashboard, enabling players to place one-click bets effortlessly. Monitoring new events, live betting features, and other casino games as you expand your offerings is equally simple. The potential for growth is limitless, allowing you to attract more bettors by adapting over time.
Conclusion
Starting a bookie business from home offers numerous advantages, from financial independence to the flexibility of working from anywhere. With the right tools and support, you can establish a successful sportsbook that not only meets your financial goals but also provides an engaging experience for your customers. If you’re ready to embark on this exciting journey, now is the time to take action and explore the opportunities that await in the thriving world of sports betting.
Boost Your Betting Strategies With Ace Per Head
Understanding percentages in horse racing odds can be challenging, but it’s critical for bookies who want to operate a successful racebook.
Now that you know the basics of horse racing betting, it’s time to begin setting up shop as a bookie. Schedule a demo of Ace Per Head to enhance your horse racing strategy with expert help!
Ace Per Head has been in the online bookmaking services business since 1998 running one of the top-rated and most trusted brands in the pay per head industry. We give our bookie agents the personalized dedicated service they deserve. 