Nhà cái also known as bookmakers or sportsbooks, are companies that offer sports betting, including football betting, as well as other products such as casino games, lottery, and financial betting, for players to participate in. They provide odds, betting lines, and games for players to choose from, based on sports events or games.
In Vietnam, the three most reputable and best bookmakers in the betting market are 188Bet, M88, and W88. Among these, 188Bet is considered the oldest and most reliable bookmaker, and is often referred to as the "expert in football betting and in-play betting" in Vietnam.
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Bookmakers typically use four main methods to set betting lines and odds:
Setting the odds and handicap: Bookmakers start by analyzing both qualitative and quantitative information, such as team performance, past results, and statistical data, to estimate the initial betting odds and handicap. They then adjust these odds based on qualitative information before adding their profit margins and releasing them to the betting market. Once betting is open, the amount of bets placed will depend on the bookmakers' budget for the match as well as the odds set by other bookmakers.
Quantitative analysis: Bookmakers use quantitative data, such as past results, head-to-head records, and other statistical data, to calculate the relative probabilities of different outcomes in a match. This information is then used to set the betting lines and odds.
Qualitative analysis: Bookmakers also use qualitative information, such as team news, player injuries, and other relevant factors, to adjust the odds and handicap. This allows them to account for any changes in circumstances that may affect the outcome of the match.
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Market analysis: Bookmakers also monitor the market closely to see how other bookmakers are setting their odds and lines. This allows them to adjust their own odds and lines accordingly to ensure they remain competitive in the market.
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Qualitative information refers to information obtained from the media, news, and praise within a football team or club. This type of information helps bookmakers adjust their odds rationally using quantitative methods. Betting professionals need to apply their analytical skills to provide the final betting odds based on the qualitative information available. This method has no formula to adjust betting prices. However, it is possible to predict a team's playing ability based on news, team formation, and other information that affects the match result.
Adjusting betting odds method
Bookmakers typically open betting odds earlier than the match schedule. Based on qualitative and quantitative factors, as well as the odds of other competitors in the market, bookmakers will add the necessary profit margin (which they believe will guarantee safety in case of any betting errors) and provide betting odds for the match. They may also have experts in setting odds for certain tournaments (such as 188Bet, for example), but in general, they refer to the odds of other bookmakers for unfamiliar tournaments, and then add a profit margin. This is inevitable because there are currently a vast number of tournaments, including tournaments such as Qatar, Slovenia, Vietnam, etc. Finally, bookmakers will adjust betting odds throughout the week until the match takes place based on qualitative information, available capital, and odds references from their competitors.
Can you beat bookmakers in football betting?
In fact, like any other work, it requires art and accumulated experience. The same applies to football betting, which requires time, learning, and experience. When you have experience, skills, and long-standing experience in football betting, you can completely beat and make money from bookmakers. It depends on your learning process, experience, and courage to see "football betting as a profession, making money like playing stocks."