Typically an odds line will be placed by a bookmaker after they have performed a statistical analysis, which takes all the information they have available into consideration, for instance, the team’s lineup, injuries, and historical performance.
As part of any form of investing, it is important to have a benchmark that you can compare your performance against. Otherwise, you do not know whether the results you are getting are because you have made smart decisions or luck.
Value bets occur when you've got the upper hand on the bookmakers or the markets.
"Arbitrage is the simultaneous purchase and sale of an asset to profit from a difference in the price. It isa trade that profits by exploiting the price differences of identical or similar financial instruments on different markets or in different forms. Arbitrage exists as a result of market inefficiencies"
Almost all professional sports bettors will tell you that long term success is ALL about knowing the numbers. So do you really need to know a sport to make money on it? Or is knowing the maths involved enough? We argue that sometimes ‘cold trading’ could be the more profitable and least stressful option.
My name is Matthew Trenhaile and I have worked for six years at the UK Sport Spread Betting division of the IG Index, as an odds compiler. Steve was kind enough to allow me to utilise his blog to show my abilities in writing, through a series of articles from someone who has actually worked with a major bookmaker and in the industry.
Here are 10 key concepts, educational resources, tools, and practical steps you can take to improve your betting!
Mugsy does an accumulator every week and every once in a while, he actually wins the thing. The problem is, most weeks he doesn’t win but he quickly forgets those occasions.
The emotional bettor might stake all their winnings from the first bet on a new bet. If they’d lost the first bet, they might not bet at all the next time they spot a great value opportunity. They’ll probably get even more annoyed if that next bet wins when they didn’t back it. This is why managing your emotions is key if you want to be successful in your long term betting.
For the bettors out there that do not enjoy larger swings in your bankroll and deviance from your expected value, this is the article for you.
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