In any given sportsbook, players have hundreds, if not even thousands, of betting options. Part of learning how to be a bookie is knowing what betting options to offer, and how to set the lines. Most new bookies tend to focus on bookie basics: the types of wagers. Next, they would often go on to learn the more advanced wagers.
When you create a bookie website, you have the option to customize your sportsbook operation. It could be based on your preference, or your players’ preferences. But it will be very important for bookies to understand how all wagers work. Otherwise, you risk losing money if you don’t set your odds correctly.
Bookie Basics: Exotics
What exactly are exotics? Basically, these are a collection of odd wagers that can be about sports, tv shows, political events, or even celebrities. For sports events, most exotics would be mixed parlays and certain bets on the Super Bowl, among others. For other events, it could be the result of an election, the gender of a celebrity’s baby, or the result of a reality tv show.
Exotics as usually quite difficult to analyze, and the outcomes can be totally random. Some wagers are even so unusual, that it would be hard to feel confident that a bet would win you money. Exotics are usually made for the fun of it, but could bring great value for your sportsbook.
But as ridiculous as the wagers are, they do tend to be the most talked-about, and gain the best action, especially for sports bets. From the coin toss result, to the length of the national anthem, wagers on these are most often big money-earners for bookies. Which is why, as odd as betting on how many interceptions a QB will throw sounds, its important for any sportsbook to have a good selection of exotics. Not all players will be betting on exotics, because they are difficult to handicap, but the less serious players will probably throw some money on which Coach will get a Gatorade bath in the finals.