Bookmark Website  | Free Registration  | The Team
The Lounge  | Champions  | The Wire |  Schedule |  Audio  |  Arcade  |  The Top Ten  |  Historical  |  Email  |  Video

The Concept of Value in Sports Betting!


In sports betting you need to make sure that your bets (and trades) are good value in order to make a profit. If you do not do this you will still win bets but profits may be harder to achieve.

Let me explain this last statement. I actually lose more bets than I win - but the prices or odds at which I bet compensate for the losing plays.

If you bet all season long on the NY Yankees (US Baseball) or Arsenal FC (English Premiership) - to win each game - you will probably end up with a fairly good winning strike rate - but it is unlikely that you will make any money. The odds will be 'short' and you may do better to try and predict when these teams might falter - and bet against them at the over inflated prices being offered on the opposing teams. These opposing teams will most likely offer the value - as they are not the popular betting choice.

When we flip a coin, we know that the true chance of it turning up heads or tails is 50% or 'evens' (1/1).

As an example we set up a 'coin flipping' betting event. A neutral party begins to flip the coin. With each subsequent flip there is a definite preference for heads in the betting. The bookmaker or sportsbook takes this in his stride, he has already set the odds at 10/11 (-110 US) for either outcome which takes into account his commission. He knows that this trend is fairly usual as heads is often favored in this type of event. He decides, however, to balance his books a little by reducing his odds on heads to 5/6 and increasing tails to 1/1.

Heads is now an even shorter price and represents no value. Tails now stands at a slightly better price but still only represents the 'true odds' or likelihood of winning at 1/1 or 50% and so is not value.

The event continues and still the betting favors heads. Why? Well the 'average bettor' does not really understand 'value', he does not understand that heads might well be a bad bet or hold no value. He just enjoys betting and since 'heads' is winning - he wants to bet on heads.

The bookmaker balances his books again with a dramatic shortening of the odds for heads to 4/9 and a lengthening to 6/4 (+150 US), on tails.

At this point the professional bettor would step in and begin to place bets on tails. He knows that he has got value at 6/4 for an event where the 'true odds' of success are 1/1.

About The Author

Daniel B. King has been a professional sports bettor and trader for seven years. He offers advice to a number of high profile sportsbooks:

www.vipsportsgroup.com

www.sbsportsbook.com

www.betonenine.com

www.betongameday.com

- all of which are industry leaders in the sports betting and gambling field.

SportsTrade@arbitrage.ws


MORE RESOURCES:

Ex-Meadowlands Sports Complex chief urges swift action on North Jersey ...
NorthJersey.com
Jim Kirkos, president of the Meadowlands Regional Chamber of Commerce, said that while he and other local officials support North Jersey casino gambling, “a casino is subordinate to a convention center.” A number of speakers agreed that the sports ...

and more »


The Republican - masslive.com

Massachusetts gubernatorial candidates spar on casino gambling, education ...
The Republican - masslive.com
SPRINGFIELD — The five candidates for governor debated topics from global warming to casino gambling in their first televised post-primary debate, held at CityStage in Springfield. Democrat Martha Coakley, Republican Charlie Baker and independents ...

and more »


National Catholic Register

Mass. Bishops: Casino Gambling Is a Bad Bet
National Catholic Register
BOSTON — Led by Cardinal Sean O'Malley of Boston, the Catholic bishops in Massachusetts are urging voters to support a ballot measure this November that would repeal a 2011 law that legalized casino gambling in the Bay State. As of now, not a single ...

and more »


Accountant accused of theft to fund casino gambling
Chesterton Tribune
A Munster accountant has been indicted in federal court on a charge of bank fraud in connection with the theft of more than half a million dollars from a physician, the U.S. Attorney's Office for the Northern District of Indiana said. Jack Weichman, 62 ...



The Weekly Standard

Georgia needs casino gambling for education
Marietta Daily Journal
Democrats say they need to vote on Sunday; Republicans say it isn't right. It is true some will bus their votes to the polls. I don't think it matters when we vote. It is how we vote. We have been told by our lawmakers that we are not educated enough ...
House of CardsThe Weekly Standard

all 3 news articles »


New Hampshire Magazine

The real impact of casino gambling in NH
New Hampshire Magazine
As someone who spends nearly every hour of every day thinking, talking, writing about politics, you can take it from me: your vote this fall will not repeal Obamacare or keep it, it will not lower your taxes or increase them on the rich, it won't stop ...



Al Jazeera America

The winners and losers of casino gambling
Al Jazeera America
Today 39 states host casino gambling of some kind, in addition to an explosion of Internet sites. Because of this new competition, betting meccas across the nation are increasingly feeling the heat. New Jersey's gambling revenue, for example, fell by ...
Up Close: Casino GamblingWABC-TV
As Casino Gambling Busts, Atlantic City Firms Play OnMondaq News Alerts (registration)
Trump Plaza shuts downToledo Blade
MetroJacksonville.com -NJ.com -NJ TODAY
all 463 news articles »


Ohio casino gambling: Has it met your expectations?
The Plain Dealer - cleveland.com
Slots on the second floor of Horseshoe Cleveland Casino, which celebrated its second anniversary on May 14. (Lynn Ischay/The Plain Dealer) (Lynn Ischay, The Plain Dealer). Print · Amanda Harnocz, Northeast Ohio Media Group By Amanda Harnocz ...
Editorials from around OhioWTRF

all 16 news articles »


School executives association neutral on casino gambling; opposes open ...
Chalkbeat Colorado
The Colorado Association of School Executives, the advocacy group that represents school administrators statewide, has decided to take a neutral position on Amendment 68, the November ballot measure that would allow expansion of casino gambling and ...



abc40

Massachusetts bishops issue statement for repeal of casino gambling law
Attleboro Sun Chronicle
Cardinal Sean O'Malley, walks to the front entrance of St. Martha Church in Plainville during a visit last October. Posted: Monday, September 15, 2014 10:30 pm | Updated: 10:23 am, Tue Sep 16, 2014. Massachusetts bishops issue statement for repeal of ...
Casinos spending big to fight ballot questionWicked Local Hopkinton
Catholic bishops supporting repeal of casino lawwwlp.com

all 48 news articles »

Google News


Advertisement



Section Site Map - Submit News - Feedback - Comments - Advertise with Us

Copyright 2006 Luminati Inc. All rights reserved.