Curious about this too. I've got some buddies into this, but haven't really heard any true success stories out there (more "damn, I'm in debt" ones). On a related side note, glad college and pro football season starting soon.
sports betting for the us citizen is becoming more and more tricky. they are trying to close every loophole for a us citizen gambling overseas. for years i would have a book 5dimes and betjamaica to name my two favorite. but western union red flagged me a year ago saying i made to many transactions in a years span. before that banks would shut down action from a us bank to a gaming site overseas. i love vegas but im not gonna move out there to gamble. so all in all the industry seems to be fading from the american citizen. of course it would be all moot if the gubment would just make weed and sports betting legal and tax em. i mean shit what kind of revenues could we be talking about.
oh man, that's just betting 101. There's probably some mathematical formula for it, but it means if you checked out a coin and determined the head side was slightly heavy, you'd bet on tails. If heads comes up, that's the outcome. If tails comes up that's the probability. So it doesn't matter how many times you lose when it's heads, you know over time the probability favors tails. Also, check very carefully the batting statistics of all second baseman (and don't forget how they hit based on wind speed and directiion, big difference between Wrigley and Candlestick.)
Both are outcomes; Both have a probability attached (in, this case, they add up to 100% but not necessarily equal). Maybe that's betting terminology, but certain not correct in the statistical sense.
I'm sort of confused here... the large part of statistics is the study of forecasting [outcomes]... which is, of course, making predictions. Why would you think statistics cannot be used to predict oucomes?
Chicago vs Milwaukee tonight I already know (without any math) who is probably going to win Use your statistics and tell me what the outcome will actually be, preferably before 7:00 tonight
without question you can do this for a living. it is almost exactly as trading is. most people will fail at it for reasons relating to lack of discipline and lack of a plan. i used to take action for over 10 yrs so i know that most people will lose in the long run..however there was always a couple guys that would win consistently and then i would have to figure out a way to cut em off or just beat em. so i know there are guys that are just that good at it (sports betting) and can make dough on a regular basis. and they all had the same approach. very disciplined and methodical ...and if and when they had a bad week they would never chase there money and dig a bigger hole like most degenerate gamplers (or traders) for that matter do...they just swallow the loss and wait for the next day or week and start over... after i stopped taking action i started gambling myself....and yes i was profitable on a consistent basis...i was up to anywhere between a nickel to 3 dimes a game during the peak of college and NFL season...my best season was 66k in profits. when i started trading full time my desire for the action of sports betting slowly faded. its a lot of work believe it or not. you really have to put the time in to find an edge..many hours of research are required to win consistently...again similar to trading. i still wager regularly on games but just not as heavy. if you can make money doing both (trading or betting) ...its truly living the dream
One day, the league leading goalie had to miss the game due to an injury, so some young kid was going to fill in. The over went sky high. For crying out loud, the kid may not be the best, but he's in the NHL, so he's one of the best in the world. Same with Casius Clay vs Sonny Liston 10 to 1 Like the man said, He may be bad, but he's not THAT bad.