Residual Income: Betting Sports For A Living

When it comes to betting there's really one thing that actually works. The reason for it is based on facts Mathematics and Probability.

It doesn't matter, if you pick a winner eight times out of ten spot. A horse with a good turn effort or even find a football team with new up-and-coming players. All of these things are what the traditional media will have you focus your attention on. It's completely wrong, because when you know how betting strategy is incredibly simple.

Especially when you consider all of the tools and technology that's now available to bettors online. Now I will explain what makes a successful betting strategy and where you can find value for yourself. All the pros know is fact the simplest way to explains.

For an example imagine a two horse race where both horses are of equal ability nothing separates them the law of probability, dictates each horses chance of winning is 50% like a coin flip. No matter how many times, we rerun the race that average winning distribution is 50%.

Now why am I telling you this because at the core of every successful betting strategy, there's probability or implied chance as is. Sometimes referred to knowing the implied chance is the most accurate way to gauge. If betting odds are value or not and to be successful you need value to win you see. Iit doesn't matter if you choose the right horse four times out of five in the example, if you weren't getting value the short-term results would be random distribution. But over the long term you'd lose. It's a fact the true payout is in line with probability this is exactly what bookmakers make so much money simple mathematics. They take the probability of something happening and convert the price into betting odds and then offer you a lower one so to have a successful betting strategy you must do the complete opposite. It's the only thing that works this of course leads us to the most important question how do you identify value next.

So how do you identify value for your betting strategy. First you need to know the implied chance of an outcome or true odds as if sometimes referred to. But this can be a problem as it's a complicated task so. It suggests a far quicker and easier way that everybody can do just look at the betting exchanges close to the start is. The closest indicator to true odds you'll find especially when you learn how to factor in trading volumes. The reason this works is simple wisdom of the crowd a well-documented phenomenon based on the law of averages being close to the event start is, also important as it provides the most efficient result with a larger data sample. This is only the first part though as we'll give you a good indication of true price then you need to find a bigger price on that outcome. By doing this you'll massively increase the amount you win the more you do it the more.

You'll win a quick example to illustrate that would be if your selections got a 25% chance of winning that odds should be 4.0. If you get the 20% price even though your bet has a 25% chance of winning that's a 5 percent profit margin over the long term. If you bet 10 pounds a 4.0 over a hundred sample bets you've more than likely break-even with 25 winning bets of 40 pound total in a thousand pound return. Which is of course the same amount you staked in the first place 100 bets a 10 pound. Now if we take the same sample and add in our 5% margin the result is as follows 10 pound at 5.0 over a hundred bets you get 25 winning bets of 50 pound total in return of 1,250 pound. But you need to remember you only risked that same 1000 pound in the previous example, it doesn't take rocket scientist to realize that's 250 pound value for you but that’s not all there's more to maximizing profit. Which is where it gets really interesting so once you know the true price and find one of value we move to staking.

Because that's another part of the puzzle the stakes must be relative to value. If there's a bigger margin state bigger it's simple like a business. If you had a product with a bigger margin and there's opportunity to do so. You should work hard to sell more of those items doing the opposite is just plain stupid but everything's about price not the horse team or player they're pretty irrelevant.

Successful betting strategy is no different sports with fast changing odds are the easiest way to find value horse racing and greyhounds are prime examples particularly in the final ten minutes. Before the event starts learning about what moves a price is key in this respect anticipating a move and being one of the first to exploit price is the most reliable betting strategy you'll come across. It's an in-depth topic and support the number one thing. You don't want to do is make decisions based on gut feeling or fancy or even worse follow a tipster particularly.

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