Betting on Sports
Instead of telling you what you should do, I'm going to tell you what not to do.
I'm going to admit something. I bet on sports. Yes, I know that I am not going to win money in the long run. As our resident mathematician Ivan will attest, the odds are against me. So why gamble on sports if I know I am going to be down in the long run? It's fun. There is a certain thrill to putting money on a baseball game and following every pitch to see if the outcome was exactly what you had predicted. There is no better feeling than getting it right. The ego boost and the promise of a 10 to 300% return makes sports betting very appealing. However, know this: The odds are against you. If you are betting to make money, you will lose in the long run.
That said, this is the strategy that I've employed in my recent wagering. I started out recently with $100. I bet on baseball games where there is a dominant pitcher against a sucky pitcher. The returns are usually between -150 to -350 (-150 means if you were to bet $150 and you won, your earnings would be $100). Those returns are low, but I have a very good chance of winning because in baseball, a dominant pitcher will control the outcome of the game more than almost any other individual player in any other team sport. I went on a hot streak where I reached $310, but have since had a couple of bad days and I'm now down to $240.
Again, Ivan tells me that this strategy will not work in the long run because the pitchers would have to end up with an incredible record for it to be profitable. I completely agree with him.
I'm only playing for fun.
I'm going to admit something. I bet on sports. Yes, I know that I am not going to win money in the long run. As our resident mathematician Ivan will attest, the odds are against me. So why gamble on sports if I know I am going to be down in the long run? It's fun. There is a certain thrill to putting money on a baseball game and following every pitch to see if the outcome was exactly what you had predicted. There is no better feeling than getting it right. The ego boost and the promise of a 10 to 300% return makes sports betting very appealing. However, know this: The odds are against you. If you are betting to make money, you will lose in the long run.
That said, this is the strategy that I've employed in my recent wagering. I started out recently with $100. I bet on baseball games where there is a dominant pitcher against a sucky pitcher. The returns are usually between -150 to -350 (-150 means if you were to bet $150 and you won, your earnings would be $100). Those returns are low, but I have a very good chance of winning because in baseball, a dominant pitcher will control the outcome of the game more than almost any other individual player in any other team sport. I went on a hot streak where I reached $310, but have since had a couple of bad days and I'm now down to $240.
Again, Ivan tells me that this strategy will not work in the long run because the pitchers would have to end up with an incredible record for it to be profitable. I completely agree with him.
I'm only playing for fun.
Posts
