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[annmarieearnhard]

Since time immortal, one of the favorite pastimes of sport freaks has been gambling. Gambling is exciting, considering the risk involved, the luck factor as well as the chance to make a lot of cash in a couple of hours. safe online soccer gambling site gambling has become popular with millions of people throughout the world, with more visiting betting sites and online casinos popping up on the web than in the past. One great advantage of having this facility online is of course, which it is accessible from any place which has an active internet connection. This has made gambling a sport in itself, available to millions of new people.

There is a boom within the online betting industry and the sort of profits many sites are enjoying now is unimaginable. Online casinos are not to be left behind, as there is a rapid explosion of these also. The truth is, online poker gives gambling, a glamour quotient by roping in celebrities for high profile tournaments. This means reaching out to a whole new market in itself.

But keep in mind, the most successful story is the rise of sports betting. Fans who have enjoyed betting on games like soccer, football, polo, baseball, hockey and horse racing, can now do so online with the aid of these sites. A whole new variety of sports are cropping up to encourage the already soaring popularity of online betting. It may be correct to say that audiences are now enjoying the betting experience without being at the field themselves. Welcome to the world of virtual reality.

There are innumerable so-called gambling experts prepared to dish out information of their systems to ‘beat the bookie’ or to make a second income from gambling, for a price of course. I will not do that. I will simply give you information regarding bookmakers, odds and gambling for you to use (or forget) when you see fit.

The very first thing to mention is the fact that the vast majority of men and women who engage in gambling will be net losers over-time. This really is the very reason you will discover so many bookmakers making so much cash throughout the world.

While bookmakers can sometimes take big hits, as an example if a favourite wins the Grand National, they spread their risk so widely and they set up markets that incorporate a margin, so they will always generate a profit over the medium to long-term, if not the short-run. That is, as long since they got their sums right.

When setting their odds for a particular event, bookmakers must first study the probability of that event occurring. To do this they us various statistical models based on data collated over years, sometime decades, about the sport and team/competitor in question. Remember, if sport was 100% predictable, it might soon lose its appeal, and while the bookies tend to be spot on with their assessments of the probability of an event, they may be sometimes way off the mark, mainly because a match or contest goes against conventional wisdom and statistical likelihood.

Just look-at any sport and also you shall find an occasion when the underdog triumphs against all the odds, literally. Wimbledon beating the then mighty Liverpool in the FA Cup Final of 1988, as an example, or the United States of America beating the then mighty USSR at ice hockey in the 1980 Olympics are two examples of whenever you would have got handsome odds on the underdog. And could have won a reliable wedge.

The big bookmakers spend a great deal of time and money ensuring they possess the right odds that ensure they bear in mind the perceived probability of the event, and then add that extra tiny bit that gives them the profit margin. So if an event has a probability of, say, 1/3, the odds that reflect that probability will be 2/1. That’s, two to one against that event occurring.

On the flip side, a bookie who set these odds would, over time, break even (assuming their stats are correct). So instead they might set the odds at, say, 6/4. In this particular way they have built in the margin that guarantees, over-time, they will make the most of people betting on this selection. It is the same concept as a casino roulette.

So how can you spot the occasions when bookmakers have got it wrong? Well, it’s easier said than done, but far from impossible.

A proven way is to get very good at mathematical modelling and setup a model that takes into mind as many of the variables that affect the outcome of an event as it can be. The problem with this tactic is that however complex the model, and however all-encompassing it appears, it can never account for the minutiae of variables relating to individual human states of mind. Whether a golfer manages to hole a major-winning five foot putt on the 18th at St Andrews it really is as much down to their concentration as to the weather or day of the week. On top of that, the maths can start getting pretty darn complicated.

Alternatively you may find yourself a sporting niche. Bookmakers will concentrate their resources on the events that make them the most money, generally found to be football (soccer), American football and horse racing. So trying to beat the bookies while betting on a Manchester United v Chelsea match will be tough. Unless you work for one of the clubs, or are married to one of the players or managers, it’s very likely the bookmaker setting the odds will have more information than you.

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