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Basic Probability And The Concept Of Value

Basic Probability and the Concept of Value blog featured imageBasic Probability and the Concept of Value blog
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Sports betting is no doubt a truly exhilarating space. This is because sports bettors are given that rare chance to make money doing something they cherish and enjoy. However, to really profit from gambling in sports betting goes beyond just picking the winning team and accurately predicting the outcome of any sports event.

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  • How do you make more money from every bet you place?
  • Why is winning every bet not a guarantee of turning a profit in sports betting?
  • What are the things you need to know to make better use of your bankroll?

Hi guys! I’m Joey and I’m here to tell you the secret behind the most successful sports bettors you see out there today. We’ll be delving into the unique mechanics of sports betting and identifying what resources you need to leverage and the practices you have to employ to make more money, even when betting casually! Sports betting has a lot to offer you, but that is only if you are able to harness the vast potentials that the field offers. SBOtop’s Betting Tips Video Series infuses you with all the technical know-how you need to come out on top in any sports betting niche, even as a beginner! Seize this once-in-a-lifetime opportunity by quickly tapping that Subscribe button and turning on your notification settings right away so you get to see our posts the moment we release them! Before you continue watching, drop this video a Like too.

The blunt truth is that you can’t profit from sports betting simply by accurately predicting the outcome of every sports event. This might be surprising, but it’s a fact, and there are two reasons for that. The first is that even the most proficient gamblers cannot accurately predict the outcome of every sports event. The second is that even if you could, that still doesn’t guarantee that you’re making and not actually losing money. It isn’t unheard of in sports betting that your hit rate, the number of times you accurately predict an outcome weighed against the total number of bets you placed may be high but your profits low. This commonly occurs when you don’t properly account for the effect of the basic probability or the odds of each event outcome.

Calculated in fraction form or percentage form, the basic probability of an event occurring is what a bookmaker estimates and uses to set the odds for you. For you to really profit from sports betting, it is now left for you to not just bet on as many games come your way, but games that have a positive expected value outcome. Only these will generate the profit you seek. Even though your bookmaker is a seasoned veteran at estimating odds and setting it in their favor, they are not infallible. Also, you can level the playing field by taking the time to understand the sport you’re betting on deeply. Through this, you can easily spot and exploit the chinks in your bookmaker’s armor.

Finally, remember that what assures you profit isn’t strictly the number of bets you place. Rather, it’s the value, the quality of each bet that matters. To find more tips on how to get the most value for each bet you place, simply follow the link below this video. We hope you were able to learn a thing or two! If so, Like this video, Subscribe to our channel, and set your notification alerts so you get an update when we release the next hit in our lineup! See you soon!

Seth Schey
the authorSeth Schey
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