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re: Average sports bettor smarter than the average fan?
Posted on 11/13/14 at 11:06 am to PeteRose
Posted on 11/13/14 at 11:06 am to PeteRose
quote:
Average sports bettor smarter than the average fan?
No.
because the average sports fan isn't dumb enough to gamble on games.
average bettors break even or lose more than they win most of the time I guess.
3
Posted on 11/13/14 at 11:11 am to LooseCannon22282
Average fan probably realizes that gambling is a long term losing proposition as long as the bookmaker offers odds that don't add up to 100% when expressed as probabilities.
Posted on 11/13/14 at 11:19 am to LooseCannon22282
quote:
average bettors break even or lose more than they win most of the time I guess.
No guessing needed. Just logic.
50 people bet $100 on the Pats to cover. 50 people bet $100 on the Colts to cover. Bookie pays out slightly less than even money, let's say 95c on the dollar. Pats cover. Bookie pays 50 people $195 and takes 50 people's $200.
Or even simpler, you and a friend toss a coin. You bet $5 each. Winner gets $9.50, loser loses $5, bookie keeps 50c. Keep doing this over and over, the chances someone goes broke increases with every toss.
Posted on 11/13/14 at 1:07 pm to LooseCannon22282
quote:
average bettors break even or lose more than they win most of the time I guess.
Another thing is the average sports bettor bets far too often. The real professionals are betting 3-5 games a week on NFL games.
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