You might have heard some people say tat the bookies always win, but actually that isn’t the case. There are many times when the bookies lose, and sometimes they lose big! One famous example was in January 2014 when the betting industry lost over £30 million in one weekend. The punters were certainly smiling that day!
So Why Do Bookies Lose?
So what causes the bookies to lose? Most often, it happens when all of the most popular bets (usually the favourites) all win at once.
This is because many punters like to bet on accumulators to increase their odds. And when punters choose their accumulators, they normally contain a selection of the strongest favourites – whether it’s football teams, horses or something else. And when all those favourites win, the bookies pay out and the punters cash in!
Another example was Day 1 of the 2015 Cheltenham festival, when the first 3 Willie Mullins horses (Douvan, Un De Sceaux & Faugheen) all won. Punters who had these in an accumulator had their bets come in at huge combined odds. And it could have been even worse for the bookies! If the 4th Mullins horse Annie Power hadn’t fallen at the last fence they would have been looking at losses of £100 million!
How Can You Profit When Bookies Lose?
If you want to take advantage when the bookies lose, you should be looking for accumulators and multiples containing the strongest favourites of the day. If you bet on the horses, make sure you pick the best horse racing bookies. If you bet on football, you need to make sure you use the bookies that give the best football odds. In both cases, that’s because you need to be betting at the bookies that give you the best odds and promotions for your particular sport.
You should also look for bookies that give you the best offers on accumulators. For example, William Hill give you money back if your accumulator misses by one. That way you’ll often get a refund if you lose, and still be able to cash in big when you win!
Next time the bookies lose money, will you be there to profit at their expense?