Those who bet on sports are fans, enthusiasts, or even just people who want to have a little fun. A gambler can place bets on sports, too, especially when there are big sports events such as the Super Bowl. People who are serious in placing their money on their teams are those who want to earn a little cash from what they know about the game. Some even follow a specific player or team for years, before they place their bets. Knowing the game and knowing the team are essential components in sports betting. Those who always bet on sports want to have a piece of the excitement. At the same time, they way to profit from the time and money they’ve been investing in the sport.
As you know, sports betting is math. Understanding the basic math principles behind the specific game can result to a huge advantage. Sports betting has a more complicated type of math. As you think about sports betting math, you should also consider other factors like quarterback ratings, bye weeks, injuries, and underdogs. Your mind is on the sports and at the same time, on the different figures behind it.
As with all gambling activities, sports betting should just be a hobby. If you know how to make the correct calculations, you will stop making it into an expensive hobby. Reality hits when you realize that you lose a lot of money whenever you bet offline or online. To prevent this, all you have to do is consider a simple equation.
For example, you bet on 2.00 as an average of the odds on which you wagered. If your betting tips always win about 45% at a time, then you win 45 units worth of profits from the 100 USD you wagered. As you do so, you lose 55 bets out of 100, which means you lose 55 units.
Another example is betting 10 USD per bet in 100 bets. Your successful sports predictions win you 450 USD. On the other hand, you lose 550 USD.
The equation here is Y=X*Z.
X = the average of betting odds
Z = successful predictions
Y = if greater than 1, you’re a winner; if less than 1, you lose quickly
This equation is the only bit of math that you have to think about if you just want to enjoy betting in sports.
To win in sports betting, just make sure that your X and Z are favorable, so that your Y is always greater than 1.
In the example given, X = 2.0, Z= 0.45 (45%). To make your Y larger than 1, your Z or X should increase. You should choose odds, higher than 2.0 to increase your success.
The solutions to this are as follows:
- Improve your winning probability
- Look for better odds, but stick to your technique in picking your bet.
Sports Betting Stats
Many experts advise bettors to forget about statistics, if their aim is to win. The claim here is that statistics must be challenged. The frequency of scores and the historic data has no effect on your performance in betting. This may be true for some people, but there are still those who spend time and money on applications and manual excel sheets that have sports betting stats.
Every sports event has statistics reports. The major news sites for sports keep these statistical data as reference for years to come.
Whether you’re betting for fun or professionally, consider using the equation given and the statistical information of the game at the same time. These can help improve your betting experience a hundred-fold.