- This topic is empty.
-
Posts
-
Since the start of civilization, one of the favorite pastimes of sport freaks has been gambling. Gambling is exciting, taking into consideration the risk involved, the luck factor and also the chance to make a lot of cash in a couple of hours. Online gambling is becoming popular with millions of men and women around the world, with more visiting betting sites and online casinos popping up over the internet than previously. One great benefit from having this facility online is of course, which it is accessible from any place which has an active internet access. This has made gambling a sport in itself, available to millions of new people.
There has been a boom in the online betting industry as well as the sort of profits many sites are enjoying now is unimaginable. Online casinos are not to be left behind, as there’s been a rapid explosion of these as well. In reality, online poker gives gambling, a glamour quotient by roping in celebrities for high profile tournaments. Therefore reaching out to a whole new market in itself.
But of course, the most successful story is the rise of sports betting. Fans that have enjoyed betting on games like soccer, football, polo, baseball, hockey and horse racing, can now do so online with the assistance of these sites. A whole new selection of sports events are cropping up to encourage the already soaring popularity of online betting. It may be correct to say that audiences are now enjoying the betting experience without being at the field themselves. Welcome to the world of virtual reality.
You can find innumerable so-called gambling experts ready to dish out information of their systems to ‘beat the bookie’ or to make a second income from gambling, for a price of course. I will not do that. I will simply give you information regarding bookmakers, odds and gambling that you can use (or forget) while you see fit.
The first thing to mention is that the majority of men and Novamentis noted women who engage in gambling will be net losers over-time. This really is the very reason you can find a lot of bookmakers making so much money throughout the world.
The big bookmakers spend a great deal of time and expense ensuring they possess the right odds that ensure they take under consideration the perceived probability of the event, and after that add that extra tiny bit that gives them the profit margin. So if an event has a probability of, say, 1/3, the odds that reflect that probability would be 2/1. That is, two to one against that event occurring.
On the contrary, a bookie who set these odds would, over-time, break even (assuming their stats are correct). So instead they might set the odds at, say, 6/4. In this particular way they have built-in the margin that guarantees, over-time, they are going to make the most of people betting on this selection. It’s the same concept as a casino roulette.
So, just how can you spot the occasions when bookmakers have got it wrong? Well, it’s easier said than done, but far from impossible.
A proven way is to get great at mathematical modelling and setup a model which takes into mind as many of the variables that affect the outcome of an event as it can be. The problem with this tactic is that however complex the model, and however all encompassing it appears, it can never account for the minutiae of variables relating to individual human states of mind. Whether a golfer manages to hole a major-winning five foot putt on the 18th at St Andrews it is as much down to their concentration as to the weather or day of the week. In addition, the maths can start getting pretty darn complicated.
Alternatively you can find yourself a sporting niche. Bookmakers will concentrate their resources on the events that produce them the most money, generally found to be football (soccer), American football and horse racing. So trying to beat the bookies while betting on a Manchester United v Chelsea match will be tough. Unless you work for one of the clubs, or are married to one of the players or managers, it really is very likely the bookmaker setting the odds may have additional information than you.
