- This topic is empty.
- Wpisy
Apparently we’re pleased to stake our cash on everything from bullock racing to a bullfight. The consulting firm H2 Gambling Capital released statistics recently which reveal that the common UK adult or perhaps the US adult will lose around US$400 gambling per year. But they are nowhere near the Australians (the most prolific bettors) whom shall lose more than $1,400 for every adult this year.
All these losses add up and popular sports betting markets like English Premier League soccer, NFL football, NBA basketball, NHL hockey, and MLB baseball turn over billions of dollars on a yearly basis. And, as in other billion dollar industries, the competition for your custom is fierce. good online gambling site bookmaking operations today are slick, sophisticated, and making a killing. They employ expert staff to set appropriate starting prices and use complex statistical models to manage their risk in real time.
On the other hand, all this effort from the bookmakers is nothing with regards to the time expended by punters themselves. Consider the time you spend turning a bet over within your mind before you place it and then multiply that through the number of bets placed each day. Hundreds of thousands of man-hours are spent trying to predict the outcome of professional sports daily.
But could this effort be better utilised?
You’ll find only two things which determine the expected payout of a bet. The first is the probability of the predicted result and also the second is the odds accepted for that result. Improving on either one of these factors improves the expected return of the bet. Yet, for all the effort expended attempting to predict the correct result, it appears that proportionately very little effort is expended securing the most effective possible odds.
This really is hardly logical. It’s not possible to anticipate the result of a sporting event with any meaningful confidence and even guessing at the probability of a particular result is incredibly hard. At least some of the time spent trying to predict the outcome of a sporting event will be better spent comparing the odds offered by the different bookmakers and selecting the bookmaker which offers the top return on this particular bet. It’s quick and easy to shop around the many online sportsbooks, compare odds, and locate a better offer. There are actually even lots of services out there that can do it for you for free.
Professional gamblers often have accounts with multiple bookmakers, pay close attention to the odds provided by each, and seek out the top odds before they place a bet. But the average punter tends to mindlessly accept the odds provided by his usual bookmaker. This really is a large oversight and a costly missed opportunity.
Bookmakers often post noticeably different odds for the exact same event and it is common to search out mismatches of up to 10% from one bookmaker to another. This percentage is there for the taking and it mystifies me that lots of folks aren’t shopping around for better odds.
