How Bookies Cheat

A quick look at how bookies win with every bet.
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Sources:
ubplj.org/index.php/jpm/articl...
www.investopedia.com/articles...
www.goal.com/en/news/3049/ask-...
www.pinnacle.com/en/betting-r...
www.pinnacle.com/en/betting-a...
stats.stackexchange.com/quest...
punter2pro.com/how-bookmakers...
sports.bodog.eu/content/math
www.oddsshark.com/sports-bett...
Music:
Background: "Present Day" by E's Jammy Jams
Outro: "Nighttime Stroll" by E's Jammy Jams
#Bookmaker #Betting #Cheating #Gambling

[@Nighthawk1000]

He should do a collaboration with CGP Grey.

[@zipzap8937]

Everything CGP Grey has ever said on the internet would lead one to believe that kind of collaboration will never happen, not even if we waited until the heat death of the universe.

[@fr0g309]

YESS! THAT WOULD BE PERFECT!

[@cdw2468]

^ 2 types of people

[@sdani.]

@@cdw2468 lol

[@Boxygirl96]

*when you have to double check the video author cuz you’re half-asleep and didn’t realize who you were watching*

[@H34D5H07]

Gambling should always be considered fun, never a way to make easy money.

[@joegarrison5911]

Exactly, anyone who gambles to make money they NEED is a fool. If you just wanna make a game interesting here or there that's fine. Hopefully you win, but if your rent is due and you gamble your last 1K hoping to get enough up for the rent than you're a moron..

[@conorfrankland7699]

Sign up offers and matched betting, easy money

[@alexleach4002]

Yeah thats why i only put my money in stocks,, and option trading, real-estate, currency etc .. Nothing like that evil gambling.

[@conorfrankland7699]

@@alexleach4002 forex is basically gambling

[@alexleach4002]

@@conorfrankland7699 I know man Im just messing with these idiots. It's all gambling, they all have different lines, best investors are able to evaluate the best lines and manage risk better than the rest. I gamble for a living.

[@CaptainCalculus]

As a former bookmaker, this is 100% accurate

[@geminirox8635]

Well no shit. As someone who understands simple logic and statistics I can verify this is 100% true

[@aluisious]

I wish I could have job where people give me money and I give them back less. Sounds great...

[@nickgonzalez5015]

Captain Calculus you got any social media so I can ask questions about this job? I'm looking forward to becoming one in the future.

[@JiveDadson]

If you think this is all true, that would explain why you are a _former_ bookmaker. Are you claiming you were never sided or middled?

[@adriandark7044]

As a former bookmaker, I'm glad I can cheat bookies as they cheat me, with a source I found!

[@baileym4708]

This is not cheating. Cheating would be something hidden or dishonest. The "juice" is given in plain sight, take the bet or not, it is your choice.

[@HPontara1]

yeah cheating would be u got some odds and then if u lose, u lose. But if u win, they say something is wrong and bets are canceled. On the same event one time, me and a friend placed bets on same bookie but on opposite sides. Guess what? I should win and get a nobet. He loses and...he loses his money lol

[@GRBtutorials]

Well, it is dishonest to give the wrong odds on purpose, and we know they’re wrong because they always make money.

[@NathanTAK]

@@GRBtutorials The odds on the bet do not necessarily reflect the actual odds. If you think they do, that's your fault.

[@avml1000]

I mean, it’s not like casinos try to hide it. Is it fair? Not really. But at the end of the day, gambling is a money vacuum. Whether it’s slots, cards, dice, roulette, or sportsbetting, it is ALL designed to have the house come out on top. And they don’t hide it, they don’t need to. Casinos are MASSIVE places full of expensive decor and upholstery, that was paid for by millions of losing bets.

[@froge7955]

casinos are more of a place you pay to play luck based games than a place you go to make money honestly

[@robertjermaine5382]

My friend was arguing with me that roulette is basically a coin toss between red and black He didn't know about the green squares, which is how the casino skews the odds much further in their favour

[@project-gladiator]

And you can bet on single numbers

[@nabidisla.5086]

Funny thing is my Dad works in Malta for Tipico the biggest Sport betting bookmaker in Europe he is the manager for the marketing i showed him this video and all you said its true

[@Chraan]

Of course it's true.

[@353adam]

Tipico? never heard of them, certainly nowhere near the biggest in Europe.

[@rod.h8064]

Perhaps they trade to the punters under another name.

[@pseudoproak]

Adam Buckley I've heard of tipico in Germany

[@353adam]

yeah you could be right. i looked them up though and couldn't find anything

[@classyassmothafucka8890]

Cheating? Everybody knows that bookies are taking a cut. The bookies are there for 2 reasons. 1. They ensure transfer of payment on a bet 2. They organize betting in a way that you just can't For example. Imagine you live in LA where the game is, and New York is the visiting team. You want to bet on the game... but... you don't know any NY fans. Bookies (particularly online ones) put you in the same betting pool as people thousands of miles away... so you don't have to give up ridiculous odds to bet for your team.

[@sharperguy]

You can also see it this way. You're not betting against the bookie. You're betting against the other people who are betting. To make money you need to be consistently above average with your predictions compared to everyone else. The difference in odds that the bookie takes can be seen as the fee for facilitating the transaction.

[@sptony2718]

So, put bets on the most accurate bookie...?

[@lennyzefflin9876]

Most people are too dumb to grasp that. Unfortunately.

[@JigawattMusic]

@@sptony2718 No, put bets on the least accurate bookie's customer base, which is usually the most entertainment/party-oriented site. You could use the most accurate bookie's odds as the prediction. It's a form of one-legged arbitrage.

[@komodosp]

I've always thought of gambling as a deal you make with a bookie or casino: You give them €10 five times, then they give you a €40 lump sum and you walk away feeling pleased with yourself...

[@davidwatkinson5389]

This raises the question “What’s the most you’ve ever lost on a coin toss?”

[@davidclark4376]

Some Fanduel guy lost like $30,000 on the superbowl coin toss.

[@KennyMcCormick99]

A Gatoraide

[@bigjake360t]

You see making money is easy. As long as you have no morals.

[@KennyMcCormick99]

Making honest money is & will always be the hardest...

[@jynflyn1679]

Bookies don’t cheat. People just come and give them money

[@Skimmerlit]

How much do you research these? Glad you're alive

[@Tapakapa]

A few weeks at the very least. This stuff takes forever.

[@glimppe7772]

Just going to say something like this can be found out rather effortlessly by Googling "How gambling works" or similar.

[@owlaracing1106]

Glimppe most likely more than just that, a lot more in depth etc as he most likely want's to make sure his info is as accurate as possible.

[@andrekvam7897]

this is the problem of the world today. if you're going to spout out logical drawn conclusions without factual backup : there is a word for that. philosophy calls it bullshit. and the other way around (factual statements without thought process) is called horseshit. Look it up :) it might be bullshit. *point of the comment is its good to hear he checks his facts before he goes about and makes a public statement about it. Its how youtube is supposed to work! :D

[@alexmcfly7653]

Are you serious? Isn't how this shit works obvious? it's basic math.

[@twiceremoved7339]

I just take the money and run. On my 11th city now. It's pretty easy, people just give you money if you tell them you're a bookie. I've had to spend a lot of my money on new backpacks though and they are getting more expensive. The books keep ripping holes in the sides and the corners are getting mashed which means I won't get a full refund when I return them at the end of the semester. I may have to visit my local bookie and place a few bets to cover the difference. His backback is pretty worn out too but it's his final year. Crazy world, man.

[@itsyaboiblackdragon4958]

I hope you're not serious

[@yourfavoriteneighborhoodni1268]

@@itsyaboiblackdragon4958 😐, thats what you say to such a well crafted joke?

[@itsyaboiblackdragon4958]

@@yourfavoriteneighborhoodni1268 doesnt seem like a joke at all. Sounds like something that realy happends on the streets

[@aljuboori4953]

@@itsyaboiblackdragon4958 .........

[@itsyaboiblackdragon4958]

@@aljuboori4953 i see your POINTS heheh

[@bryankelly335]

Wow , I found your channel awhile back , binged every video and subbed .. I'm really happy you still upload videos .. I wasn't sure if the channel was dead or not so this is great to see .. Thanks for making these for us , appreciate yah ..!

[@Tapakapa]

Thanks a lot.

[@G3HP]

As the saying goes, "when you gamble, the house always wins"

[@davewxc]

This comment section is overrun by furious gambling addicts.

[@alexleach4002]

Im not furious!

[@JarvoD]

None are furious but its good they're here right? Understanding how they rig it this way could help people stay away from it

[@alexleach4002]

@@JarvoD Im willing to bet that more than 95% of people who make bets like this (sports bets etc) already understand how it works.

[@justkion]

Who you calling furious?

[@jonjelen9755]

I would just like to say that I came across this channel today, and it is amazing! Keep up the good work my man, interesting topics for sure!

[@elio3101]

Love the ending where video basically show what each betting company is doing. Stadiums are full of betting ads, live betting etc. Great and true video!

[@theomusa6824]

love your vids, i don't mind waiting for the next if the quality is as consistantly good as this

[@fakename9303]

Unbeknownst to me this was a instructional video on writing options.

[@RihannaIsIluminati]

Deadass lol

[@AlexVoxel]

Amazing video, i guess i'll binge watch all of your videos

[@winghead9813]

Lmfao I just got an ad for a gambling app at the end of this video

[@henrik1743]

In formula1 they don't even pay back bets if the car is illegal in qualifying lol, screw rules appearently

[@The_Captainn]

Keep em coming! The more content you have, the more people I can shill towards your page.

[@sandwich2473]

I think this was the first video of yours I ever watched such a good channel

[@petermatthews2831]

I did statistics at college That's pretty much all you need to know to understand how bookies screw people over I didnt realise how invaluable that knowledge would be back then tbh

[@saishanoor2763]

Can u plz elaborate perhaps with an example ? On a bet my Sportsbook offers -110 .. ie he makes 10cents win or lose. Isn’t that fair to charge for offering odds ? I can understand if one bookie charges 20 cents w.r.t to first bookie … this overall P/L depends on outcome and number of bets on that outcome against the opposite

[@PeterPeadar]

Interesting video, thanks! Could you prepare a video comparing and contrasting book makers, insurers and stock brokers? The two former seem to operate strikingly similarly and the later seems to have similar elements. Keep up the good work! Much appreciated.

[@pr4_kp]

Thank you for uploading

[@Tapakapa]

My pleasure.

[@travis7346]

Welcome back

[@takjoychiu]

I uh... I don't get how this isn't common sense

[@nathanahern3278]

Yeah right, great video, but should be titled; "How Bookies Cheat" For Fucking Idiots.

[@augustinf]

This video is borderline insulting and a total waste of time. « Oh so bookmakers and casinos manage the luck factor in their favour ? Who knew right? »

[@ststst981]

yea this is just the odds and the vig. bettors know bookmakers dont work for free and that they want equal action to make money on the vig. if you have self control and knowledge of the game you can still make money

[@Henrix1998]

50% of people have IQ less than 100, remember that

[@diagnosedtopg7657]

@@Henrix1998 it's that a real statistic?

[@MrBenMcLean]

Or you could bring a sports almanac of the outcomes of every major sporting event for the rest of the century back in time using a time machine made out of a Delorean, and then get yourself elected President in the year 2016. There's also that.

[@jwhite5008]

risk is not zero - this is why "you" need to have as many bets as possible - to balance the odds with large numbers as long as the odds are in clear view - this is not cheating - more like balancing payouts - since it's impossible to know real odds. that is not to say that gambling does not destroy lives - it totally does. It can be done for fun and thrills, some of it can be viewed a game of skill if you are a really good expert in the field, but is more often than not abused.

[@blackgod854]

ive been waiting for the latest cgpgrey video for such a long time!

[@Tapakapa]

Yeah, me too.

[@vlad1221]

I love your vids, I wish you had more views than you do, we need to post this everywhere!

[@ademolad7215]

Why do all these people have so many Nigeria flags?

[@Tapakapa]

Don't you know that Nigerian flags are the world's number one international currency?

[@red2theelectricboogaloo961]

@@ademolad7215so does that mean if i go to the nigerian flag store i've entered a stock exchange *s t o n k s*

[@Sergedfabre]

@@Tapakapa sure

[@valor-2569]

Great video! You should make more!

[@Tapakapa]

Thanks, I'm on it!

[@LoidHDGaming]

Honestly a great channel!

[@teodorhristev7864]

I work in a gambling company and whatever he said is just the most important and basic stuff on betting. They taught is just that at the beginning and the sooner you realize it, the better

[@KennyMcCormick99]

I've been searching for hours!!! Where's the "Deposit" button???

[@jonathandevries2828]

lol i thought your outro was going to be a skillshare plug..."if you dont want to cheat people out of their life savings; and just wanted to know about betting and bookmaking...check out skillshare"

[@jamespower2090]

Keep Going! Your Videos Are Amazing!

[@April_a26]

You're back! yay!

[@ammonshultis8343]

Fun fact 0:04, is a reference to a short story 'Man from the South' a short story by roald dahl. It's a very good, you should read it.

[@hrnekbezucha]

The casino always wins.

[@yenc_i]

Nice channel man, keep it up.

[@ku-oplordkoala7471]

Your videos are really good THANKS FOR BEING HERE!!!!!!!!!!:)

[@grig8310]

Technically, this would mean that the odds for the more likely winner is better as the bookie lowers the high payout for the unlikely winner to have a balanced book…

[@LukeSumIpsePatremTe]

Do gamblers really need to be shown this? If so, I might have over-estimated my fellow gamblers.

[@AjHop]

The best thing you can do if you’re going to gamble is to know how it works and how you win/lose money. Online sports betting is so convenient where it’s allowed and with more people becoming interested in betting; the more education you can get on it the better off you are. This video is great for people new to the betting world

[@aidanwansbrough7495]

Very interesting!! Thank you for the video :)

[@robertosantiago5381]

Hi Sir, this is a really an impressive explainer video. I know this question is a bit off, but may I ask what software did you use in creating the cartoon characters? I need to create explainer video as well but I don't know where to start. Hope you can help me. Thank you in advance.

[@Tapakapa]

You can use the free program Inkscape to make vector graphics. Probably best to start there. Thanks for asking so nicely. Best of luck with your endeavor.

[@sirsytham1588]

Tapakapa the fact that you replied is amazing

[@levirhoden]

This whole exchange is too pure

[@sirsytham1588]

@@levirhoden omg yes

[@GeaForce]

I solemnly swear I am up to no good

[@The_Gute]

The bookies basically do arbitrage betting to their clients…but hate when their clients arbitrage bet

[@mr.dr.genius6997]

I remember watching your videos a long LONG time ago.

[@tylerngu5493]

Eyy youre back

[@americanbagel]

this guy is the next CGP Grey

[@AlexVoxel]

They outsmart you, not really cheat

[@rabin_7]

They definitely cheat you....not showing the real odd rather a tweaked one.

[@colinreid1958]

Is this really a surprise to anyone? Gambling is about trying to find value in the odds

[@colinreid1958]

I'm a pro gambler. I use statistics and betting 1,1,2,3,5,8...etc on odds when they are better than 7/4 ie better than the golden ratio. I wont say what I bet on but if people seek similar bets and are armed with decent knowledge they may (MAY) be able to turn a profit. Not always easy, becareful, start small and experiment as much as possible before you commit. Best of luck!

[@themadpro]

You’re back I see:3

[@InvestingBookSummaries]

Great video!

[@chaosgyro]

Got ads for Caesar's Sportsbook and Fanduel immediately following this video. Thanks algorithm!!

[@Nikooooi]

Never clicked so fast on a video!

[@TheCynicalDude_]

Yeah? Not even the, "How to make generic ass comments" video?

[@robertloop7847]

That Four Rooms movie reference was spot on!

[@dariuscarter5758]

Woah. A new video for the first time in forever

[@blob_425]

This guy gives me salmonella academy vibes.

[@Bardomp]

3 ads of betting sites on this video

[@propoppop9866]

This is grate it’s always best to remember we can mathematically calculate numerical risk

[@tristanromo8034]

Good video

[@lionbryce10101]

Coinflips of double/nothing when played until someone is broke will, usually, drain the person with less money

[@johndunn4060]

Folks in this comment section don't know what a commission is, it is only a commission if it agreed upon before the bet what this guy is talking about is not that if you listen.

[@justincase1286]

You had a new sub at the Four Rooms animation.

[@ThatGuyDownInThe]

why do I laugh so profusely when I run into things like this

[@runemllerbarnkob7971]

pari mutuel? worked for 20 years on a race track, 10 of those as a totalizer controller - it was never a secret how pool betting and bookies work - we always win - like casino

[@vilkku792]

Yeah. It would be a really stupid thing to keep as a secret because after a little rational thinking anyone should be able to realize that the people running the gambling are always going to get more money in than what they give out. Otherwise they would run out of money very quickly.

[@PrincessNinja007]

I thought it was more like stockbroking- either a flat fee to the bookie ($3 to put $100 on red) or a cut of the winnings (1.5% of a $1,000 payout) or something like that

[@DomGuam]

Here after developing a gambling problem myself

[@CJBroonie]

So I remember when Tapa had no subs and he asked us few viewers for money and help keeping his channel alive. We kept bumping up the comments until the algo picked up. You’re welcome, Tapa. Oh, and it seems the comments are overrun by bots from betting sites, wtf?

[@superinvandrare9326]

i subbed to ur channel you teach me something i didnt know

[@blogblock]

"the big moneys.." i love it

[@cadem.1017]

Idk why this is recommended is KZbin trying to tell me something

[@mohammadabusaleh3387]

At the end when he said I you only wanted to learn about book keeping, I was waiting for "check out skill share"

[@jonathanhunter5669]

"Cheat" isn't quite the right word. Had you said take advantage of suckers however I'd absolutely agree. To make it simple, imagine you have a 6 horse race - the favourite is even money and the second favourite is 5/4. Then for arguments sake let's say the rest are 10/1 or higher. Then let's again say the favourite or second favourite wins. Whatever they lose paying out on whichever of the 2 favourites wins they'll make up for in bets taken on the other favourite then whatever is wagered on the other 4 they keep for profit. However the game changer is if one of the non favourites wins then they make a lot more as they might have to pay a few punters out but not many. Also to clarify though they are sneaks in the sense that some odds are set to lure people to wager e.g there could be an even money favourite that they know full well isn't going to run as well to justify those odds but that's down to the punter to research

[@jonaw.2153]

Yup, time to start studying bookmaking

[@whiterabbit9341]

Pro tip: don't bet

[@cadem.1017]

Some of us have a crippling gambling addiction Estro

[@JarvoD]

@@cadem.1017 I know its not easy to do even this sometimes but if you can't stop altogether stick to limits. Set them on one site and ban yourself from the rest

[@cadem.1017]

Dominic Jarvis-Smith I’m up 1100 in two months I’m okay I think

[@JarvoD]

@@cadem.1017 Good man 👍 gambling can be fun when managed responsibly. I don't have a problem with it but even I've chucked away more than I intended just enough to piss me off for the next few days. During times like that is when I have to fight the temptation to go win it back

[@cadem.1017]

@@JarvoD ya i feel ya gotta know when to walk away

[@sparky7297]

This Deserves more views.

[@ulogy]

Lol, that four rooms reference.

[@azhamjelani9076]

same like casino, even the payout is more than the bets but the odds of their winning is higher

[@watsontyler42]

You should also take a “small fee” for letting them bet in the first place. Just to maximize profit.

[@BrockPageProductions]

Thanks a lot

[@generalchaos6]

@Tapakapa Hi Tapakapa, been subbed to you for a while now, really liked your videos on gangsters and this video on bookies was very insightful. Do you mind if I ask you a couple of questions? Do you take requests? And if so, do you mind me making a kind of weird request especially if you’ve never played borderlands before... But could you please do a video where you explain the loot system in borderlands 1? Thank you

[@Tapakapa]

Well, that topic really isn't up my alley, but thanks for the request. Also, if you have any other questions, ask away.

[@generalchaos6]

Tapakapa thank you so much :)

[@vvav]

Similarly, it's easier to make money by owning a casino than by playing in someone else's casino.

[@denisl2760]

If you don't have the right connections, you're not owning a casino. If you try you're in for a bad time.

[@Bladeofwar94]

Either count cards or don't plan on making money. Hell I know it is a losing venture so I usually just have a good night and tip the dealer while I play.

[@strawwpurry]

Algorithm moment

[@serenitatis8074]

more frequent uploads than GradeAUnderA

[@jayfloramusic]

cornflakes looked like noodles for a sec, had to pause. good video. hungry now.

[@darrylkassle361]

You are on to it!! Shhhh now

[@NazriB]

Lies again? Barcelona Kansas

[@umberto1510]

Good Video

[@therealelement75]

Thanks

[@galvarez3202]

Concise and entertaining video

[@ragii1428]

How does KZbin know I have a gambling problem and recommend this to me?

[@Tapakapa]

Did the video help with it then?

[@ragii1428]

Only time will tell mate, but it for sure gave me a reality check :)

[@BLX187]

Wow. Thought that ending was gonna lead into a skillshare advert.

[@sergiysergiy]

Thanks!

[@elijahholland3995]

So what you’re saying is I need a brown fedora. On it

[@nightmaremono7363]

Any fedora would do.