| |
| |
|
Casino & Gambling Information |
|
|
|
The Concept of Value in Sports Betting!
In sports betting you need to make sure that your bets (and trades) are good value in order to make a profit. If you do not do this you will still win bets but profits may be harder to achieve. Let me explain this last statement. I actually lose more bets than I win - but the prices or odds at which I bet compensate for the losing plays. If you bet all season long on the NY Yankees (US Baseball) or Arsenal FC (English Premiership) - to win each game - you will probably end up with a fairly good winning strike rate - but it is unlikely that you will make any money. The odds will be 'short' and you may do better to try and predict when these teams might falter - and bet against them at the over inflated prices being offered on the opposing teams. These opposing teams will most likely offer the value - as they are not the popular betting choice. When we flip a coin, we know that the true chance of it turning up heads or tails is 50% or 'evens' (1/1). As an example we set up a 'coin flipping' betting event. A neutral party begins to flip the coin. With each subsequent flip there is a definite preference for heads in the betting. The bookmaker or sportsbook takes this in his stride, he has already set the odds at 10/11 (-110 US) for either outcome which takes into account his commission. He knows that this trend is fairly usual as heads is often favored in this type of event. He decides, however, to balance his books a little by reducing his odds on heads to 5/6 and increasing tails to 1/1. Heads is now an even shorter price and represents no value. Tails now stands at a slightly better price but still only represents the 'true odds' or likelihood of winning at 1/1 or 50% and so is not value. The event continues and still the betting favors heads. Why? Well the 'average bettor' does not really understand 'value', he does not understand that heads might well be a bad bet or hold no value. He just enjoys betting and since 'heads' is winning - he wants to bet on heads. The bookmaker balances his books again with a dramatic shortening of the odds for heads to 4/9 and a lengthening to 6/4 (+150 US), on tails. At this point the professional bettor would step in and begin to place bets on tails. He knows that he has got value at 6/4 for an event where the 'true odds' of success are 1/1. About The Author Daniel B. King has been a professional sports bettor and trader for seven years. He offers advice to a number of high profile sportsbooks: - all of which are industry leaders in the sports betting and gambling field.
MORE RESOURCES:
Casino-Gambling - Google News |
|
|
|
RELATED ARTICLES
Top 5 Reasons - Should You be Gambling Online? Why is online gambling the latest craze to hit the Internet? Let's face it the casino business is big bucks. Games played for money have found their way into any permitting city across the world. The Concept of Value in Sports Betting! In sports betting you need to make sure that your bets (and trades) are good value in order to make a profit. If you do not do this you will still win bets but profits may be harder to achieve. Poker Table Position Poker seating and the position one has at the table is one of the most important and least talked about aspects of poker. It's especially relative to the Texas Hold'Em poker game because it is positional in nature. Gambling Legality Basics The gambling scene in America can be traced back to centuries. Gambling has remained to be a part of the American dream life ever since the inception of lotteries in New Hampshire. Poker Hand Rankings Poker hand rankings are one of the most important aspects of any poker game. When playing online poker, especially fast online poker games such as Texas Holdem Poker, you need to be able to quickly discern which cards are needed to create a better poker hand. Why All the Excitement Over Poker? Poker's new upsurge in popularity in is due to televised showings of championship poker tournaments, such as The World Poker Tour and The World Series of Poker. This has resulted in millions of people all over the world playing either online or at land based casinos. Bookmaking Basics The role of a 'bookie', the common name of the person involved in bookmaking, is quite important in the world of gambling. The bookie is responsible for keeping track of all the bets in the game. Addictions To Gambling on The Rise! Over the past five years addictions to gambling have grown at an accelerated rate. Not only adults, but teenagers are gambling with out realizing the consequences. Greyhound Racing Basics In Egypt the greyhounds were mummified and buried with their masters. The Egyptians viewed them as supreme among all animals. How To Have The Most Fun Playing Holdem Poker At Home Holdem poker is taking the country by storm as one of the most fun means of entertainment. It's not a fad, but more of an awareness of a great way to have some fun. How to Play Video Poker Slot Machines Video Poker is a game that requires some skill to play and bridges the gap between slot machines and table games for many players. It's still easy and fun to play, but you have the potential to maximize your gains by being able to put the odds in your favour, making it a more involving playing experience. The Secrets of the Field Pssst.. Basic Jacks or Better Video Poker Strategy Video Poker is a game of skill - and using the simple combination of playing strategy and mathematical know-how, can be beat. Take note of the "pay schedule" shown on the front of each machine, and look particularly at the most important information - how much the machine will pay out for a Full-House versus a Flush. Money Management, Why You Need to Manage Your Bankroll You should only play games that your bankroll will allow. If you have 200 dollars to play with for a month you don't want to lose it all in the first week playing a 5-10 no-limit game. Slot Machine Basics The first slot machine came into being in 1895. Since then, they have witnessed not much of evolution. What To Do With Your Winnings So You Dont Go Broke It's been proven time and time again that the majority lottery or other gambling cash prize winners will be broke within a few years of winning. What a very depressing statistic. Video Poker - Best Strategy The table below gives a basic drawing strategy for a Jacks or Better machine (the best kind). There is a perfect draw for every possible combination of cards dealt to you, but that strategy is far too complicated for this article and for the casual player. Video Poker - Should You Play Maximim Coins? The arguments are almost endless about whether or not to play the maximum number of coins on each hand in video poker. We'll attempt to make some sense of it for you. Depositing Funds to Your Online Casino & Poker Room Account - The Best Options Ways To DepositWhen I first wanted to start playing in online casinos and poker rooms, I thought it would be as easy as 123 to start playing - surely all you need to do is to download the software enter your credit card details and away you go?Well yes kind of, but you may already have seen there are a multitude of different payment and deposit methods available ranging from credit and debit cards right the way through to the good old snail mail check!There are a range of options but it is vitally important that you choose the right one otherwise your casino and poker play may not be as rewarding as you first think.Credit CardsHistorically credit cards have always been the first thing people think of when looking to deposit money - and why not - these days most of the major banks offer internet fraud protection and depositing via credit card is pretty instantaneous - so what is the problem - well there could be a few. How To Avoid The 3 Destructive Traits Of Traditional Gambling / Lottery Systems There is over $120,000,000,000 spent on lottery systems along across the US and around the world. Yes, that's one hundred and twenty Billion on just lotteries not to mention the billions spent on other gambling systems.
|
|
home | site map Visit our other sites: GamesBlog | GamingDepot | GimmeaRide | GimmeNetwork | Golf Biz | HotorNotGame | I Want Computers | I Want Games | I Want Hosting | I Want Music | I Want Security | JokeBox | ScriptShock | Wantedfonts | Webalize |
| © 2006 |
