Okay, so I am a losing bettor. I've never made money from placing bets, I could go on a small winning streak, but eventually I lose it all. So I have been thinking, since I am jinxed and very bad at making selections, anybody that does the opposite of what I do, at the right odds must profit. Getting the right odds is important, because as we all know, the bookie vig will ensure you lose in the long term.
There are a couple of ways to getting better odds; either your scour the web for them or you wait and bet live in play if the opportunity presents its self. Every now and then, I will post my bets, all you need to do is bet against me and viola, profits!
The problem with this theory is that you’re assuming that for every loser there can be a winner. And you are assuming that you can improve your odds by finding the right strategy.
For games of chance like dice, there isn’t a winner for every loser because the house takes a cut of the money in the form of about 2 to 3 percent of the dice rolls. That leaves 97 to 98 percent for the players. Basically you have around a 48% chance of winning and a 52% chance of losing. So basically for every 48 winners, there’s about 52 losers.
The second point unfortunately isn’t true either as far as I can tell. Betting strategies can’t increase odds of winning. You will eventually lose no matter the betting strategy because you will eventually run out of money after a string of losses. Believe me, I have tried a bunch of different betting strategies.