The sports betting industry has become a highly competitive global industry. It continued to gain popularity over the past decades – thanksto the rapid development of the internet and software technologies and the increased usage of mobile electronic devices, the bookmaking landscape has also evolved.
Like traditional bookmakers, online sportsbooks facilitate sports betting, such as online tennis, cricket, basketball, and online soccer betting Singapore – calculating and providing odds, accepting bets from sports bettors, and paying them out if they win. But not all online bookmakers available on the internet are the same; they are categorised into sharp and soft bookmakers. And,sports bettors need to understand the difference between them and which one provides them more advantage in terms of their sports betting career and profitability.
Sharp bookmakers are designed for professional sports bettors, called “sharps” or “wiseguys.” Their business model is based on low margins, which enable them to offer higher and better odds that accurately reflect an event’s probability and allow high stakes. Accordingly, sharp bookies use sophisticated mathematical models and systems and employ traders to create their betting odds and constantly and promptly adjust their odd lines based on market changes.
On the other hand, soft bookmakers are aimed at square bettors, also referred to as “average Joes,” “casual bettors,” or “recreational bettors.” These bookies model their business on higher margins, which means odd lines do not often reflect the actual probabilities of events. In addition, soft sportsbooks are typically slower at changing their betting odds, usually minutes behind sharp bookies, as they manually adjust their odd lines or copy the betting lines of sharp bookmakers.
Moreover, punters who want to partake in football betting Malaysia or other sports betting markets must also understand the difference between the two bookmaker types in terms of betting limits. Generally, sharp bookmakers rarely restrict or ban bettors. The soft bookmakers oftenlimit or prohibit betting accounts on their platforms to prevent the wiseguys from betting big.
To learn more about the differences between sharp and soft bookies, read the infographic by 88ProAsia provided below:
