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6 Major Risks of Arbitrage Betting and their Solutions
Level:
BEGINNER
Although professional arbitraging is one of the more secure methods of earning consistent profits through betting, there are several risks involved which must be avoided or controlled.
(1) Disappearance of Arbitrage Opportunities
Arbitrage...
Is Arbitrage Worthwhile Pursuing? Is Arbitrage Legal?
Level:
BEGINNER
In the world of sports betting the art of arbitrage involves wagering on both or all sides of an event with the right combination of odds and stakes in place to make a profit whatever the outcome of that event.
In this way, the...
Combinatorics and Probability Theory in Football Betting
Introduction to Combinatorics and Probability Theory
This article is a step-by-step guide explaining how to compute the probability that, for example, exactly 4 out of 6 picks win, or how to calculate the likelihood that at least 4 of 6 bets...
How to Calculate Average Odds in Football Betting
Sometimes it is necessary to figure out the average odds from a set of betting odds which can then be used as the basis for further calculations. For example, computing deviation and variance.
When using odds in European format (decimal) you...
Correct Assignment of Football Data to Levels of Measurement
In statistics, information is collected using qualitative or quantitative data. The collected data is then organised using scales or levels in order to classify the data correctly because not every set of data is of equal value and can be analysed...
Value Betting – Popular Misconceptions & Common Myths
In many betting forums there are regular discussions and queries about value betting. However, it seems that there are a good number of bettors who believe in myths and indulge false concepts.
Here are some of the most popular misconceptions…...
Probability, Expectation, Hit Rate, Value, Mathematical Advantage: Explained
Introduction
The terms probability, expectation, likelihood, chance and hit rate are all closely related, and express more or less the same thing. The difference is that before a game one talks about ‘chance’, ‘probability’,...
The Gambler’s Ruin Explained – Fair Coin Flipping
One of the phenomenons of probability is Gambler’s Ruin. The most common meaning is that a gambler with finite wealth, playing a fair game (that is, each bet has expected zero value to both sides) will eventually go broke against an opponent...
A Basic Understanding of Betting Exchanges
Level:
BEGINNER
A betting exchange is not a bookmaker. They simply provide the Web site (platform) to allow logged-in members to bet against each other…
Betting Exchange Basics
A betting exchange site is a platform allowing you to place...
Greening-Up In-Play at Betting Exchanges
Level:
BEGINNER
Gambling ‘in play’ provides the opportunity of trading or hedging via betting exchange sites such as Betfair, Betdaq or Smarkets, where this type of strategy is known as greening-up (i.e. two or more transactions performed...
