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Apparently we are pleased to stake our money on everything from bullock racing to a bullfight. The consulting firm H2 Gambling Capital released statistics recently which reveal that the typical UK adult or perhaps the US adult will lose around US$400 gambling each year. But they are nowhere near the Australians (the most prolific bettors) that will 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 per year. And, as in other billion dollar industries, the competition for your custom is fierce. safe online casino soccer 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 when compared with the time expended by punters themselves. Think about the time you spend turning a bet over in your mind before you decide to place it and after that multiply that through the number of bets placed each day. Hundreds of thousands of man-hours are spent trying to predict the outcome of sporting events every day.
But could this effort be better utilised?
You’ll find only two things which determine the expected payout of a bet. The very first is the probability of the predicted result and the second is the odds accepted for that result. Improving on either one of these factors improves the expected return of the bet. Nevertheless, for all the effort expended attempting to predict the correct result, it seems that proportionately very little effort is expended securing the very best possible odds.
This is hardly logical. It’s not possible to anticipate the result of a sporting event with any meaningful confidence and also guessing at the likelihood of a particular result is incredibly hard. At least several of the time spent trying to predict the outcome of a sporting event could be better spent comparing the odds provided by the different bookmakers and selecting the bookmaker which offers the most effective return on this particular bet. It’s quick and easy to shop around the many online sportsbooks, compare odds, and find a better offer. There are even a lot of services around which will do it for you for free.
Professional gamblers often have accounts with multiple bookmakers, pay close focus on the odds offered by each, and seek out the very best odds before they place a bet. Although the average punter tends to mindlessly accept the odds provided by his usual bookmaker. This is a sizable oversight and also a costly missed opportunity.
Bookmakers often post noticeably different odds for the exact same event and it is common to seek 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 individuals are not shopping around for better odds.
