If you read this article on how sportsbooks generate chances, you’ll know that a bookmaker’s sole intention is to entice equal activity on all sides of a wager, and then pocket a gain on the juice (also known as’the vig’).

Futures odds can change immediately. They typically fluctuate at least once every week due to factors like teams going on hot streaks and sportsbooks balancing lines in response to incoming bets. Bookmakers capture these opportunities (given to them by the notorious volatility of futures odds) to charge enormous juice in their futures lines. It is generally accepted that futures chances have massive variation baked into them, and sportsbooks use this to their benefit.

Furthermore, sportsbooks charge colossal juice futures to handle their risk. For instance, from the NHL, 31 teams compete for the Stanley Cup every year. At the middle of July, it’s extremely hard for a bookmaker to successfully balance the action they are receiving on futures bets. There is just a lot of doubt early in the season. Therefore, sportsbooks respond by charging juice.

As we mentioned previously, a Cinderella run by an underdog at any moment in the season can be sufficient to give any oddsmaker a panic attack. In the event the Vegas Golden Knights had won the Stanley Cup, it would have been an unmitigated disaster for sportsbooks. These sportsbooks were hugely vulnerable since they’d have needed to cover the bettors who wagered on the Knights at the beginning of the season in a minimum of 100-1 odds, depending upon the sportsbook.

How Much Juice Can a Sportsbook Charge?
If you are confused about how sportsbooks charge juice futures bets, it is simple: all you need to do is add up the odds being provided on each team or player and convert them into implied probability. You’ll see that the amount is well over the typical 105%-110% on conventional betting lines.

For example, we took a look at Bovada’s Stanley Cup Odds in the summer until the 2018 NHL season began, and found that the total implied likelihood was 130.14%. Two teams were listed at +750, meaning that they had an implied probability of 11.76% to win the Stanley Cup. Obviously, estimating a team’s likelihood of winning until the puck even drops on this season is extremely unrealistic.

The two teams were certain favorites, but at +750, sportsbooks make bettors pay a hefty premium if they wish to put down cash on the first season contenders. It is likely the Bovada was getting a lot of action on these two teams, so that they shortened the chances significantly to try to balance the activity.

It is generally accepted that mortar and brick sportsbooks cost about 40-70% on futures bets, while online sportsbooks charge around 20-40 percent. There is no hard and fast rule, and the amount of juice sportsbooks charge will fluctuate because the season .

We discovered that using some astute and extensive line shopping, it’s possible to have around 7 percent juice total. Keep in mind, however, that to get this 7% juice, you would have to bet on each available alternative. Not only is this time consuming, but it’s not likely to be profitable.

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