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“Bodybuilding Sins” That Cause Back Pain and Missed Workouts: Part 3
“Bodybuilding Sins” That Cause Back Pain and Missed Workouts: Part 3 by Jesse Cannone, CFT, CPRS and Steve Hefferon, CMT Welcome to article number 2 in our series “Bodybuilding Sins That Cause Back Pain and Missed Workouts”. In this article we are...
From Bare Bones to Big Bucks-The Evolution of American Football
By the end of October, baseball fans pack up the party with the
boys of summer, and prepare for the cold months ahead with a
long list of hard-hitting heavyweights ready to take the field
as the Sunday afternoon, Monday night, and holiday...
History of Sports Memorabilia
The other day I was cataloguing three boxes of baseball cards
for a friend of mine and I began to think about how this entire
card collecting and sports memorabilia phenomenon began. If you
are a closet fan (as I am) of shows on television that...
Is Your Child's Exercise Program Stunting Their Growth?
With childhood obesity on the rise, the benefits of a healthy lifestyle need to be instilled in our children at an early age. Studies have shown that children that are active throughout their teenage years have a greater chance of being healthy...
Top Ten Things I Would Like To See Regarding Baseball
Top Ten Things I Would Like To See Regarding Baseball
1 Put the designated hitter in the National League or remove the DH in the American League. Let's create some uniformity. .
2 Re: Ground Rules or Grounds Rules or Grounds Rule - Not Grounds...
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"The Concept of Value in Sports Betting!"
In sports betting you need to make sure that your bets (and trades) are good value in order to make a profit. If you do not do this you will still win bets but profits may be harder to achieve.
Let me explain this last statement. I actually lose more bets than I win - but the prices or odds at which I bet compensate for the losing plays.
If you bet all season long on the NY Yankees (US Baseball) or Arsenal FC (English Premiership) - to win each game - you will probably end up with a fairly good winning strike rate - but it is unlikely that you will make any money. The odds will be 'short' and you may do better to try and predict when these teams might falter - and bet against them at the over inflated prices being offered on the opposing teams. These opposing teams will most likely offer the value - as they are not the popular betting choice.
When we flip a coin, we know that the true chance of it turning up heads or tails is 50% or 'evens' (1/1).
As an example we set up a 'coin flipping' betting event. A neutral party begins to flip the coin. With each subsequent flip there is a definite preference for heads in the betting. The bookmaker or sportsbook takes this in his stride, he has already set the odds at 10/11 (-110 US) for either outcome which takes into account his commission. He knows that this trend is fairly usual as heads is often favored in this type of event. He decides, however, to balance his books a little by reducing his odds on heads to 5/6 and increasing tails to 1/1.
Heads is now an even
shorter price and represents no value. Tails now stands at a slightly better price but still only represents the 'true odds' or likelihood of winning at 1/1 or 50% and so is not value.
The event continues and still the betting favors heads. Why? Well the 'average bettor' does not really understand 'value', he does not understand that heads might well be a bad bet or hold no value. He just enjoys betting and since 'heads' is winning - he wants to bet on heads.
The bookmaker balances his books again with a dramatic shortening of the odds for heads to 4/9 and a lengthening to 6/4 on tails.
At this point the professional bettor would step in and begin to place bets on tails. He knows that he has got value at 6/4 (+150 US), for an event where the 'true odds’ of success are 1/1.
As long as he bets at this price (6/4) or any 'value' price, the professional will win in the long run.
Naturally, it is not as easy to assess the 'true odds' in sports events because there are so many variables, however, with experience it can be done, especially if one specializes in particular sports events.
About the Author
The author has been a professional sports bettor and trader for seven years and helps advise a number of sportsbooks:
Gameday Sportsbook
SportingBet
VIP Sports Group
amongst others - all of which are leaders in the sports betting and gambling industry.
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