Betting Without Mathematics? You'll Lose!

By Maxim Smart

Imagine trying to get to your destination in London using a map of Boston. Sounds like nonsense? Of course it is, and it is more than obvious. Not so obvious is the same behaviour in sports betting. I have a test for you. Try to answer the following questions! Do you know what the odds represent? I mean the deep meaning of the odds. Are you familiar with how the odds are being created? Do you know what value bets are? Can you do your own mathematical predictions? Do you know how the bookies earn their money? What is the best betting strategy? How much should you bet per line? Etc.

If you are not able to answer perfectly all of the previous questions, you are a money maker... for the bookies. Would you dare to fly an airplane from one city to another? Sounds like suicide, if you are not a pilot. Still, every day, millions of punters do something they only have a little idea about. 

Just some examples of the foolish arguments of the majority of punters: They bet on the team because the team needs to win to avoid relegation, they bet to support their beloved team, they bet on the team because it would be fair for the team to win, they bet because team A is better than team B (this is a great example of a wrong betting behaviour), they bet on the A, because they never heard of team B... and it gets even worse. Some of them even pay scammers for so-called fixed match information.

There is however only one correct approach. Science - more precisely mathematics. Bookmakers use it and they rule the business. Using anything other than pure brain power is a way to lose your stakes. You don't need to worry if you don't have a PhD in mathematics or applied science, the hard job has been done by the real data scientists. Things are because of them simpler than they appear and we guide you through.

• Language: English
• Publisher: Maxim Smart
• Release date: Sep 16, 2020
• ISBN: 9788057022527

Book preview

Introduction

Imagine trying to get to your destination in London using a map of Boston. Sounds like nonsense? Of course it is, and it is more than obvious. Not so obvious is the same behaviour in sports betting. I have a test for you. Try to answer the following questions! Do you know what the odds represent? I mean the deep meaning of the odds. Are you familiar with how the odds are being created? Do you know what value bets are? Can you do your own mathematical predictions? Do you know how the bookies earn their money? What is the best betting strategy? How much should you bet per line? Etc.

If you are not able to answer perfectly all of the previous questions, you are a money maker… for the bookies. Would you dare to fly an airplane from one city to another? Sounds like suicide, if you are not a pilot. Still, every day, millions of punters do something they only have a little idea about.

Just some examples of the foolish arguments of the majority of punters: They bet on the team because the team needs to win to avoid relegation, they bet to support their beloved team, they bet on the team because it would be fair for the team to win, they bet because team A is better than team B (this is a great example of a wrong betting behavior), they bet on the A, because they never heard of team B... and it gets even worse. Some of them even pay crooks for so-called fixed match information.

There is however only one correct approach. Science - more precisely mathematics. Bookmakers use it and they rule the business. Using anything other than pure brain power is a way to lose your stakes. You don’t need to worry if you don’t have a PhD in mathematics or applied science, the hard job has been done by scientists from Rowdie.co.uk. Things are because of them simpler than they appear and we guide you through.

Chapter 1 - The roots of Losing

My first betting steps

I was about 15 when I placed my first bet at a local betting shop near a place I lived. From that moment, the following 2 years, I went to the same shop almost