Contributing Soccer and US Sport Editor
Contributing Soccer and US Sport Editor
If you’ve ever wanted to know how bookmakers make money, you’re in the right place. We’ll answer all of your questions like ‘How do bookies make money?’ in simple terms so that everyone can see how sports betting sites really work. Plus we’ll even answer the question of ‘How much do bookies make per year?’ so that you can understand exactly how wealthy these sites are getting off the back of your sports bets.
But why should you need to know about how bookmakers make money? Well, if you have any interest in how the best betting sites in New Zealand work, you’ll need to know how betting odds are calculated and how everything these sites do is geared towards making profits for themselves while keeping the average punter in with the chance of making some winnings.
Above all, by finding out how bookmakers make money, you’ll get a much greater understanding of how sports betting sites function. So it’s only fair that our online betting guide in New Zealand will attempt to answer the question of ‘How do bookies make money?’, just as we answer questions like ‘What is Asian handicap betting?’ and ‘What is 1×2 betting?’. So keep reading to see how bookmakers make money.
If you go to a betting exchange in New Zealand, you will be either backing or laying odds put on by other punters. So how do bookies make money when they run betting exchanges?
Here they will always apply commission rates which take a cut of whatever winnings you make on their site. These commission rates might not seem like much, but they can all help a betting exchange make respectable profits on the back of your sports bets.
When it comes to answering the question of ‘How much do bookies make per year?’, we found that all decent bookmakers are pretty transparent about revealing their yearly revenues. This showed that some sports betting sites make some considerable profits.
For example, the British bookmaker William Hill made revenues in excess of £1,581 million in 2019, and Bet365 created revenues of a staggering £2.98 billon in the same year. 888 Holdings made a very respectable $540 million in revenues in 2018, while Betfair made revenues of £393 million in 2014, These are just some of the biggest bookmakers around, but it clearly shows that the largest sports betting sites make some substantial profits.
For smaller bookmakers, the revenue streams might not be quite so immense. Plus all bookmakers are heavily taxed and have substantial operating costs that could put a fairly hefty cap on whatever profits they made.
Despite this, it’s clear that many bookmakers have made some huge profits on the back of your sports bets. So you shouldn’t feel too bad about taking full advantage of whatever sports betting odds and bonuses that they put on.
While bookmakers make plenty of money, it’s an entirely fair and legal process. If you’ve understood the answer to the question of ‘Is online gambling legal in New Zealand?’, you’ll know that all decent bookmakers will have to acquire a license to prove that they offer a fair and safe sports betting service.
This means that by going to any of our recommended bookmakers you should get a fair chance of making some decent winnings from your sports bets. All good bookmakers will have thorough terms and conditions that outline the sports betting rules of their service, and this will help clarify any issues that should arise.
Don’t forget that the best sports betting sites will also be registered with organisations such as the Independent Betting Adjudication Service. These organisations are there to provide you with help should anything go wrong with your sports bets. Just remember that if you feel like you have been unfairly treated, then you should consult the best guide for making bookmaker complaints New Zealand has to offer.
Seeing as bookmakers will always skew the odds slightly in their favour, it’s worth thinking about how you get consistently beat these sites at their own game. The first thing that you’ll need to do would be to find a bookmaker that’s right for your own level of experience. If you’re asking which bookmaker is the best for beginners in New Zealand, we can help you out and the same is true for those seeking more advanced betting options.
Once you’ve picked your bookmaker, you’ll need to consider your payment methods in order to deposit money into a betting site in New Zealand. After all, your choice of payment method could have a big impact on how soon you get to enjoy whatever winnings you make.
We can show you the best betting sites with credit card in New Zealand along with the best betting sites with bank transfer in New Zealand so that you can fund your bets with these respected payment methods.
Plus we’ll show you the best betting sites with PayPal in New Zealand, the best betting sites with Skrill in New Zealand, the best betting sites with Neteller in New Zealand and the best betting sites with EcoPayz in New Zealand so that you can take advantage of speedy withdrawal times with these ewallets. Don’t forget that you can also use the best betting sites with Bitcoin in New Zealand to see how this cryptocurrency works for your sports bets.
Once you’ve settled on your payment method, it’s just a matter of thoroughly researching your bets to make sure that you stay one step ahead of the bookmaker. While you could try using the best strategy for no risk matched betting New Zealand has to offer, we’d recommend just putting in the work to focus on the teams and players you know best.
By doing this, you’ll be well-placed for taking advantage of all of the many betting markets bookmakers serve up for your favourite sport. Just don’t forget to get the answer to the question of ‘How does cash out betting work?’ so that you can cash out early and cling onto whatever profits you’ve made.