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7 tips for Applying Statistics in Sports Betting

Was math one of your most hated subjects in school? Well, maybe it’s time to regret it now. You may not need much in the business you do, but did you know it could bring you earnings? Yes, yes, we are talking about sports betting, which is more or less based on mathematical calculations. And luck, of course.

With the development of technology and the advent of smartphones, the number of people interested in betting is growing. This is supported by an increasing number of bookmakers, but also online betting. With the help of a mobile phone, a ticket can be paid for in a few steps, which makes betting easier.

What is it that attracts many people to try their hand at betting?

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Many would probably think that the possibility of winning money is the primary motive for anyone who engages in sports betting or some other game of chance. We can’t say that this is completely incorrect, but often as one of the motives before the possible financial gain, you can hear fun, socializing, cheering for a club, and how interesting it is to watch the game with a bet on a result. But looking at it from the other side, sports betting can be a more probable way to win, than some other game of chance in which the key factor is luck, and not knowledge, calculation, and the like. It is possible that many indulge in betting precisely because they have the feeling that they are managing the situation, that is, that they are in some way influencing the positive outcome of the bet, that is, the winnings.

For others, it is an escape from reality, an opportunity to relax and not think about everyday obligations and problems. One of the important factors that, in combination with the other factors listed, can motivate betting, is certainly the media and advertising sports betting through them. Media and the marketing strategies used by sports betting organizers are not in favor already stated the fact that young people are one of the highly represented groups among those who gamble or bet. On fun88 you can learn more about sports betting.

But what interests us all is what can we do to improve our chances of winning? How can we use our mathematical knowledge and, by applying statistics, reach long-desired profit? Let’s go in order.

Bet on the best, not on your favorite team

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Passionate eco-sports fans who glorify a particular team feel like they are betraying that team if they bet on another. Well, dear bettors, we advise you to put your emotions aside and bet on those you believe, according to statistics, have the best chance of winning.

Focus on one league, sport, competitors

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If you are hasty and indecisive, so you don’t know whether to bet on Rafael Nadal, who you think will beat Novak Djokovic, or Inter Milan, who have performed very well this season, or the horse you have heard often wins – slow down a bit! Focus on one sport, one team. Do a little research. Take a look at the past of that team, make statistics of bites and losses. Only if you are focused will you win the system.

Initial capital

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Determine the initial capital. Let it be the “surplus money” from the wallet, that is, the one that is not intended for paying bills, buying food, or settling anything of vital importance. For starters, start with small stakes. They say that in sports betting and gambling you should never forget the golden rule – enter only as much as you are willing to lose.

Choosing a financial strategy

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This is one of the key moments in betting. Every successful player must have a strategy. Here are some examples of criteria you should adhere to: if you lose, don’t increase your stake. There is no room for excessive aggression in this game. The strategy should have an element of analysis. Stick only to the strategy that you are familiar with and that you have analyzed well.

Some mistakenly believe that math and statistics are insignificant in sports betting. It is true that, as in casino games, the efficiency of the sports betting system for generating profit depends exclusively on mathematics.

Mathematics in sports betting: only one equality

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It is true that for most people betting on sports is more like a hobby – and it should be. However, if sports players have spent some time on the following very simple calculations, it would be possible to minimize betting losses and, why not, stop being an expensive hobby.

Track your losses

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Many players do not record the results of their roles and very often lose without even being aware of it because they do not keep records. In other words, they do not systematically monitor what is happening and what comes out of their betting account every month. This is one of the 10 reasons we lose sports betting.

Probability

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The notion of probability arose when trying to numerically express the degree of belief that some imagined event would come true. In many everyday situations, we use the term probability to explain in more detail whether an event or situation will occur, for example: “The probability of rain today is more than 65%.”, “The probability of getting a passing grade in a math exam is less than 10% “,” I am 100% sure that Rafael Nadal will win in the final of Roland Garros. “. So, how then to calculate the probability of an event? There are classical and static approaches to calculating probability. In the classical approach of the way of using the probability of events, it is assumed that the space of elementary events is finite and that each individual outcome is equal to possible. An example of this is the lottery game, where the probability for each combination of numbers to be drawn is the same. A statistical approach is used in determining the degree of belief in phenomenon events as part of a whole or as a ratio of a part both favorable and unfavorable to a particular event. An example of such use is predicting winners’ sports meetings based on previous competition results of the same rivals.

Final thoughts

A big win requires an incredible dose of luck when betting on big odds and hitting them. Of course, such winnings sometimes happen in the world of sports betting, although they are rare. It may seem easy to pick a few pairs and guess the score, or which team will win, but in reality, there are many factors that affect the score and in fact, sports betting is in some ways a game of chance.

About Jeanette Iglesias

Jeanette Iglesias

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