Monday 30 September 2019

The Fallacy of Sports Handicapping

The vast majority of those who bet on sports lose money doing it. The losers seem to believe those who win have some mystical handicapping skill they themselves lack.
If you look on sports betting forums, a lot of the talk is centered on the particulars of the players and match ups. Which quarterback is the best, or which pitchers are pitching. There are people who will look at every detail of every game they choose to bet.
Therein lies the biggest problem most bettor face. And they create it for themselves. The fallacy of sports handicapping is that the answer lies in stats, or in the players. You can spend all of the time you want looking, but the advantages you find are illusions.
The average bettor has it backwards. They select a game to bet and then try to predict who will win it based on the situational aspects of the game as indicated in the stats.
The winning bettor will start with a situation that has shown to be a profitable over time and find games that fit it. Who is playing does not matter. The stats are irrelevant if the situation applies.
The key to winning money betting on sports is to properly manage your money while betting on situations that have shown to be profitable. It can not be found by handicapping random games using stats.
If you want to win, there are two options.
You can find yourself a few situations that profit for you, apply a sound betting strategy, and turn them into betting systems. Or, you can buy a betting system from somebody else and follow their directions.
Either way, the more profitable situations you know about the more money you can make. At least as long as you understand the fallacy of sports handicapping and stop making bad bets based on statistical analysis of random games.

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