How difficult is it to beat the sports betting markets? How efficient are the odds?
Assuming you have an edge, at what point can you start accurately evaluating your results and say that variance has played out? Is there an amount of turnover or number of bets?
Assuming you have an edge, at what point can you start accurately evaluating your results and say that variance has played out? Is there an amount of turnover or number of bets?
Over a small number of bets, luck can play a huge role in your betting success. Which is why it’s important to not just base your success on whether a bet won or lost, but to look further at other metrics. So, for question three, we asked the experts: Q3: How do you determine whether your betting results were caused by skill or luck?
Over a small number of bets, luck can play a huge role in your betting success. Which is why it’s important to not just base your success on whether a bet won or lost, but to look further at other metrics. So, for question three, we asked the experts: Q3: How do you determine whether your betting results were caused by skill or luck?
Over a small number of bets, luck can play a huge role in your betting success. Which is why it’s important to not just base your success on whether a bet won or lost, but to look further at other metrics. So, for question three, we asked the experts: Q3: How do you determine whether your betting results were caused by skill or luck?
Jeff Ma’s betting story is so good that it was adapted into the book Bringing Down the House and the movie, 21. Ma is famous for being a member of the MIT Blackjack Team from 1993 to 2001, where he took the casinos for roughly $2 million. But like a lot of us, his story started as a university student in need of some money!
Other than the sportsbook managers in Vegas, not many people had heard of the name James Holzhauer before his incredible 32-game winning streak on Jeopardy! in 2019. Over 33 games of Jeopardy!, Holzhauer won over $2.4 million using basic sports betting principles such as probabilities and expected value; principles he’d been using his whole life. But before he took the Jeopardy! world by storm, James was and still is a professional sports bettor.
We couldn’t go through the whole series of 10 People Who Got Rich on Sports Betting without mentioning our own, Jonas Gjelstad. Along with his friend Martin, Jonas is a co-founder of Trademate Sports. Over his time, he’s also been a very successful poker player and sports bettor, profiting nearly $1 million from value betting in one year.
Q4: Kelly criterion or flat staking: Which stake sizing strategy do you consider to be the best and why? And if Kelly bet, what percentage do you recommend?
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