How to be profitable in sports betting? - page 13.

Capt00

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Quote from: xSkylarx on October 11, 2019, 01:47:57 AM

Quote from: Kasabus on October 11, 2019, 01:27:08 AM

They say that sports betting has no house edge, but why is it it's still hard to win here?

Because it is still a form of gambling so luck has a role in order to win even though the chance is higher. Unlike other types of gambling, in sports betting there are many factors that will help you to win like the popularity, their records or listen to some opinions of sports analyst.

The fact that it is gambling is the main reason that you won't earn money from it as much as you want.

Betting on sports does not have an house edge but I think the reason you are not winning is because you are betting on the wrong team. Sports betting is also gambling but what made it a little better from other gambling games is that you can monitor the teams performance and progress and if you will review there statistics then it will give you and idea which team has an edge over another. I know most bettors mostly bet on their favorite teams regardless of the performance or stats, so I guess that’s what made it difficult for some to win even in sports betting.

mersal

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Quote from: Kasabus on October 11, 2019, 01:27:08 AM

A lot of us here love sports and we are betting at the same time.
I am not successful in this kind of venture but I would love to know from people here on what they do in order to win.
They say that sports betting has no house edge, but why is it it's still hard to win here?

IMO,sport betting is much easier to win compared to other form of gambling.

What we can do most is bet on the most strong team and for this we need quite a lot to know about the game we bet.

Sometimes go against the majority is also strategy to be followed for some games.

vintages

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It depends on the type of sport you are betting on.
But on a general note, which ever sport you choose to bet on, you should be conversant with it and be up-to-date. From there, you can easily make prediction on where to place your money.

Though some people look up to paid agencies for prediction, if you want to follow this means, be sure that they have history in winnings before subscribing to them.

magneto

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The only two ways that you can be profitable in the long run with sports betting would be:

a) arbitrage betting, i.e. taking advantage of the differences in odds across platforms due to promo odds and/or information assymetry
b) having some sort of professional tipster which has a legitimate model that they go off of with a proven track record. Even if these boxes are ticked, this is highly risky.

If you're just an amateur with no experience, and betting on random moneyline - forget about it. Think of it as entertainment.

Arbitrage betting can also only be done on small volume bets. Anything larger you'll find it difficult to orchestrate. I think the opportunity cost of either of these strategies to make money off sports betting is simply not worth it. You might as well have some fun with sportsbetting instead, and focus on some other venture for profit.

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Quote from: ralle14 on October 11, 2019, 05:48:16 AM

Quote from: stadus on October 11, 2019, 04:20:34 AM

Quote from: sheenshane on October 11, 2019, 04:03:04 AM

Because they had a service fee. When you wager for example $100 and if you will win you have a profit of $90. So, the $10 is their revenue.

That's wrong, most gambling sites offers a lot of odds, there are odds like 2.00 and over, so if you will keep choosing that odds, you will always get 100% or more from the amount you bet. That's what we called juice or commission in sports betting, but like I've stated, you can always do away with that.

I would like to demonstrate an example.

you can bet on brooklyn nets for 3.5 to get the odds of 2.05 and if you go on the other side, you can bet on the Lakers at -5.5 and you will get an odds of 2.05.

Betting on the underdog or going for odds above 2.00 doesn't take away the fee/juice though you're still paying a part of it.

Using a margin calculator it shows that sportsbet nearly have a 5% margin. The true odds without the juice would be 2.15~(for 2.05) and 1.86~(for 1.78)

Forget about the juice, it could varies from sportsbook to sportsbook but if you keep betting odds below 2.00, you need to increase your winning rate to make yourself profitable in the long run, and of course with proper bankroll management.

Choosing odds 2.00 and over, you just need to win at least 51% and you will be profitable, but if you go lower, like take odds 1.70 and below, you need to maintain more than 51% winning rate, I can't compute but it needs to be higher and its a tough job.

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The first thing you have to learn is, betting on sports that you understand for example soccers, tennis or basketball.

When making a bet read the situation of the team or person you will choose whether in good condition and whether it is indeed a favorite to win.

Look for the history of their meeting, for example, the number of times team A and B have met and how the statistics.

Gambling still gambling means that there is still an element of luck and often this is what makes your bet not in accordance with reality, but sports betting is still more predictable.

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Quote from: stadus on October 11, 2019, 04:20:34 AM

Quote from: sheenshane on October 11, 2019, 04:03:04 AM

Because they had a service fee. When you wager for example $100 and if you will win you have a profit of $90. So, the $10 is their revenue.

That's wrong, most gambling sites offers a lot of odds, there are odds like 2.00 and over, so if you will keep choosing that odds, you will always get 100% or more from the amount you bet. That's what we called juice or commission in sports betting, but like I've stated, you can always do away with that.

I would like to demonstrate an example.

you can bet on brooklyn nets for 3.5 to get the odds of 2.05 and if you go on the other side, you can bet on the Lakers at -5.5 and you will get an odds of 2.05.

Betting on the underdog or going for odds above 2.00 doesn't take away the fee/juice though you're still paying a part of it.

Using a margin calculator it shows that sportsbet nearly have a 5% margin. The true odds without the juice would be 2.15~(for 2.05) and 1.86~(for 1.78)

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Quote from: Kasabus on October 11, 2019, 01:27:08 AM

A lot of us here love sports and we are betting at the same time.
I am not successful in this kind of venture but I would love to know from people here on what they do in order to win.
They say that sports betting has no house edge, but why is it it's still hard to win here?

Hard to win since it's still a "gambling" after all.

However, there are some factors that might increase your winning chance rate.

-Betting Experience
-Knowledge on the specific game
-Playing with the odds
-Using the previous games as a reference
-Staying safe and not taking risks for higher odds (like me lol)

Knowledge really plays big role here, as for me, since you will know the team's ability. It's not an assurance though that those gamblers with knowledge on that specific games will win most of the times but it's far way better to have that rather than just putting random bets or following tipsters.

MonsterV

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When you play sports betting, make sure you are in a game that you like or are aware of. Most of us are only tempted by profit of the game but do not understand the game. Sports betting is not a bet based on luck, but based on knowledge and analysis. So, here your analysis and knowledge is needed, if you do not have knowledge about the game better don't bet.

Quote from: abel1337 on October 11, 2019, 03:48:10 AM

Quote from: Ailmand on October 11, 2019, 03:39:48 AM

Quote from: Kasabus on October 11, 2019, 01:27:08 AM

A lot of us here love sports and we are betting at the same time.
I am not successful in this kind of venture but I would love to know from people here on what they do in order to win.
They say that sports betting has no house edge, but why is it it's still hard to win here?

I believe your chance in winning in sports betting is higher compared to gambling which all depends on luck, because in sports betting you can use your general knowledge in sports, the team, how the team plays together, strategy, and a lot of factors to be able to weigh which team has higher chance of winning. What makes it difficult is that, you will never know what the outcome of the sport will be, there are instances that even a top team gets defeated by an underdog team. That is one of the reasons why sports betting is intersting and fun at the same time, that is if you are a big fan of sports.

Yes thats right! You can win depending on your research about the teams/personalities that you are betting with. If you know more about the player/team you can possibly predict they can win. Even underdog can win a game that can make people upset and for the gamblers, it can make the gamblers who bet on a higher odds would be disappointed expecting their team to win. With the right research and analyzation, you can boost your odds of winning on sports games.

Well, the point is we have to understand the team in sports betting. I myself usually only dare to bet if the team that I understand plays, besides that I don't dare because it is very risky. And hardest part when betting is against the majority, where our predictions say differently to the majority of people.

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Quote from: sheenshane on October 11, 2019, 04:03:04 AM

Because they had a service fee. When you wager for example $100 and if you will win you have a profit of $90. So, the $10 is their revenue.

That's wrong, most gambling sites offers a lot of odds, there are odds like 2.00 and over, so if you will keep choosing that odds, you will always get 100% or more from the amount you bet. That's what we called juice or commission in sports betting, but like I've stated, you can always do away with that.

I would like to demonstrate an example.

check this odds,

you can bet on brooklyn nets for 3.5 to get the odds of 2.05 and if you go on the other side, you can bet on the Lakers at -5.5 and you will get an odds of 2.05.

sheenshane

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Quote from: Kasabus on October 11, 2019, 01:27:08 AM

snip-
They say that sports betting has no house edge, but why is it it's still hard to win here?

Because they had a service fee. When you wager for example $100 and if you will win you have a profit of $90. So, the $10 is their revenue.
But you will lose the entire $100 will consider of course as a loss. I would say 75% skills and 25% based on luck, I guess that's sports betting work and it should be the long term is based on skill, it requires more skill than luck like live poker. While on other the hand, in the short term, luck will be a much larger factor.

If you are basing on pure luck will bring you nothing but a loss and disappointment. Digging more analysis and research the team and their previous records will increase your chances of winning. Together with hard work and great discipline are required to profit in sports betting.

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Quote from: Ailmand on October 11, 2019, 03:39:48 AM

Quote from: Kasabus on October 11, 2019, 01:27:08 AM

A lot of us here love sports and we are betting at the same time.
I am not successful in this kind of venture but I would love to know from people here on what they do in order to win.
They say that sports betting has no house edge, but why is it it's still hard to win here?

I believe your chance in winning in sports betting is higher compared to gambling which all depends on luck, because in sports betting you can use your general knowledge in sports, the team, how the team plays together, strategy, and a lot of factors to be able to weigh which team has higher chance of winning. What makes it difficult is that, you will never know what the outcome of the sport will be, there are instances that even a top team gets defeated by an underdog team. That is one of the reasons why sports betting is intersting and fun at the same time, that is if you are a big fan of sports.

Yes thats right! You can win depending on your research about the teams/personalities that you are betting with. If you know more about the player/team you can possibly predict they can win. Even underdog can win a game that can make people upset and for the gamblers, it can make the gamblers who bet on a higher odds would be disappointed expecting their team to win. With the right research and analyzation, you can boost your odds of winning on sports games.

Ailmand

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Quote from: Kasabus on October 11, 2019, 01:27:08 AM

A lot of us here love sports and we are betting at the same time.
I am not successful in this kind of venture but I would love to know from people here on what they do in order to win.
They say that sports betting has no house edge, but why is it it's still hard to win here?

I believe your chance in winning in sports betting is higher compared to gambling which all depends on luck, because in sports betting you can use your general knowledge in sports, the team, how the team plays together, strategy, and a lot of factors to be able to weigh which team has higher chance of winning. What makes it difficult is that, you will never know what the outcome of the sport will be, there are instances that even a top team gets defeated by an underdog team. That is one of the reasons why sports betting is intersting and fun at the same time, that is if you are a big fan of sports.

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Quote from: Coin_trader on October 11, 2019, 02:48:19 AM

For example. If you bet 1BTC to a 2.0 odds then you get only 1.9BTC in return then that can be considered as house edge.

If you bet 1 btc on a 2.0 odds then you get 2 btc in return as what the odds say, not 1.9 btc. If there is a 2.0 odds then it means the other side is below 2.0, it is where the house edge is deducted.

Quote from: Coin_trader on October 11, 2019, 02:48:19 AM

They can't set 2.0 on both odd since it will not profitable for them.

That is why in that snooker game both are at 1.887 odds because giving both guys a 2.0 gives no profit for the house. That is synonymous with 11.3% as the house edge. Sports betting sites don't mention house edge but it is there as an open secret. The profit you mentioned needed by the sports betting sites is the house edge mentioned in the crypto casino betting sites.

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So anyway, I applied as a merit source :)

Quote from: Kasabus on October 11, 2019, 01:27:08 AM

A lot of us here love sports and we are betting at the same time.

Love for sports should not be the direct reason for betting though. Emotions tend to make our decisions biased and that makes wrong decisions.

Quote

I am not successful in this kind of venture but I would love to know from people here on what they do in order to win.

First you should know the basic terminology thats sports betting sites use and then choose those games that you are confident about. Meaning those games that you know how its played and not those ones you are playing for the first time. Next do analysis on teams that you know of or of a league that you follow, this will vary with the type of game. Then predict the next match also taking into consideration the other factors in the match like weather, injuries and probable fixing.

Quote

They say that sports betting has no house edge, but why is it it's still hard to win here?

Hose edge and hard to win are not the same thing. Sports is good for those who are knowing the game and have been doing it. For fresh entrants it can be tough, but it needs a lot of dedication and hardwork just like spot trading.

Darker45

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Quote from: Kasabus on October 11, 2019, 01:27:08 AM

A lot of us here love sports and we are betting at the same time.
I am not successful in this kind of venture but I would love to know from people here on what they do in order to win.
They say that sports betting has no house edge, but why is it it's still hard to win here?

In sports betting, there is no other factor but analysis. You look at the opposing teams, each of the team's players, their previous records and plays, their chemistry, whether one team is perfect in their play to stop the other, or the game of the other is like focused on the weakness of another, and so forth. You may also consider the roster, whether the team's line up is complete, or if someone is injured. You need to consider also the home court advantage. Or whether a team has already made a streak that they are more likely to win due to their very high morale. All these may be factors. And it is always hard to predict based on these, coupled with the odds provided by the sportsbook. That is why some predictions are given for a price. Because they are based on complicated analyses.

You may not call it house edge because it is sports betting, in contrast to dice and other random gambling games based on luck. But the betting site has always an advantage. It is actually somehow similar to a house edge. In a betting site, the winner does not matter at all because in every loss the site makes a profit. They take this from the spread in the odds.

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Quote from: DaveWave on October 11, 2019, 02:24:57 AM

Quote from: Kasabus on October 11, 2019, 01:27:08 AM

They say that sports betting has no house edge, but why is it it's still hard to win here?

You are mistaken my friend. Sports betting have higher house edge compared to online crypto-based dice and some other online crypto-based casino betting sites.

Take a look at this English Open in snooker moneyline. Both David Grace and Michael Georgiou are 50/50 according to betting experts. But if you bet on any of them you won't get 100% return. Instead it is only 88.87% meaning the house edge is 11.13%. That is much bigger than the 1% to 2% house edge on most online crypto casinos. The only difference with sports betting is you cannot purely rely on luck. You can study and assess the players and their past performances. The only games that aren't dependent on luck on casino games are poker and other games that you can play against other players.

I mentioned "online crypto-based casino" because land based casino have higher house edge, probably 10% to 20%. The same with online fiat-based casinos where house edge are probably the same with land-based casinos.

My friend you cannot expect to have regular income on gambling. It is a game of chance, luck and some needed analysis. You better gamble responsibly just for fun and do not have high expectations to profit.

That's not considered as house edge since you bet at that odds and not 2.0 odds. Meaning that you agree to bet at that certain return which is due to the current condition of the game itself. There is no such thing as 50/50 in sports betting since there is a lot of factors to be considered to determine if the two opposite player/team is on the same level. House edge is the deduction on the actual winnings of the user. The bookmaker can't determine who's really in advantage at that particular match so they arrive at that odds. They can't set 2.0 on both odd since it will not profitable for them. This is only happening at the beginning of the match but will adjust when the game goes on.

For example. If you bet 1BTC to a 2.0 odds then you get only 1.9BTC in return then that can be considered as house edge.

iyah adrian

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In the field of sports, of course there is very much that we can make gambling. I'm happy with "Soccer" sports gambling, what I do to win. Of course from the facts in the field, of course in football you cannot take on a weak team. Unless a strong team plays a few goals, of course it's still possible. So, luck can not be a thing that we must want to get.

livingfree

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Bet to the sports that you have been following. Meaning that you have invested time to it looking for the updates, news and almost everything to it so that whenever there's a match for that sport, you know what are the good and bad teams.

This will increase the chance of winning although you can also bet without knowledge but I don't recommend it.

Quote from: imstillthebest on October 11, 2019, 02:28:02 AM

but i also like esports as well as esports games

There's no difference between the two.

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Quote from: Kasabus on October 11, 2019, 01:27:08 AM

A lot of us here love sports and we are betting at the same time.
I am not successful in this kind of venture but I would love to know from people here on what they do in order to win.
They say that sports betting has no house edge, but why is it it's still hard to win here?

i love sports but i dont like gambling on sports but i also like esports as well as esports games . im looking forward to bet one than betting on real sport games. people win because they are familiar with the teams but im sure they do also loose.

i dont believe that sportsbetting dont have an house edge because if not then how would they earn ? and why still people loose ? profitability will depend from one gambler to another depending on his skill or luck and blance

Topic: How to be profitable in sports betting? - page 13. (Read 1758 times)