The Logic Of Sports Betting

I have dabbled in poker. I am now at the point where I win any home games, and could probably do okay at the local casino. A large part of this was the foundational knowledge from Ed Miller's earler poker books (have not read the ones from the past few years).So, I am seeing great offers from the on-line casinos for sports betting now. This is similar to what was offer during the poker craze many years ago. How to take advantage? I looked around for a book. Picked up a couple and they were crap.'This book is a great introduction for a beginner like myself into sports betting. Sure, I followed sports and thought I knew what I was doing. I have always done well at the football pool at work. Nope, I didn't know what I was doing, and was merely lucky. This book gets into what you HAVE to know to have a chance at winning at gambling on sports, consistently and over the long term.However, it is not like you are given the keys to a car and can drive it away. This book suggests, to me, that you have to start modelling to choose winners. At least that is my take away. This will be hard work.It starts with a mathematical description of how to convert the odds that are given to the percentage of times your pick has to win to make money. THis is fundamental to a better understanding of what -110 means. For someone in the business, sure this may easy, but it was hard for me, as a beginner in the area. The hold is a crucial calculation which you have to be able to calculate. Then it helps you understand the market you are betting into. Then he finally gets into how to win , and exotic bets like prop bets and parlays.As he outlines, there are reasons to believe there are some good deals out there for sports bettors. If you want to get into the area, you would be wise to read this book.

The Logic of Sport Betting teaches concepts of how to win with perspectives that have I have never seen published before. How does a Sportsbook generate a line for a given market? Looking at that process, you can identify when and what will be easiest to attack as a sports bettor. The process explains why it is nearly impossible to win at the NFL betting 30 minutes before a game starts, and which markets are easiest to beat. The math isn’t too heavy, but enough to teach basic concepts you must know to have a chance. What is a break-even percentage? How do you calculate a theoretical hold on a multi-way market, or a synthetic two-way market? Why do players lose so much on parlays (it isn’t the hold)?In addition to the process, this book teaches about the markets. What do different line moves mean? What types of market moves warrant betting more (or less)? Much of the book focuses on helping you understand the operation of a sportsbook, and the inherent weaknesses it has. If you see the enemy as they see themselves, you will better see and understand glaring weaknesses in what they do.The final section includes bread and butter things that winning players know and do. How can you best exploit a Sportsbook’s marketing (e.g., bonuses and other offers)? If you have exceptional information or an angle, how do you best use it to make money? How can you lower the market’s theoretical hold? When do you often see big value in derivatives and props?This book alone won’t make you a winning player, but it is a major stepping stone towards winning. If you are a losing player, there is a lot you need to learn from this book. If you are a winning player, it might make you think in more depth about (possibly incorrect) assumptions you have made. I gave this book 5 stars because it offered a lot of information I have never seen published, it was coherently themed to elevate players, and it was extremely well written and edited.

This book is written from a different perspective then most books. It explains the difference between the hold and the vig. It explains how the book making business really works, and the advantages the bookie has over the better. It explains how the better can minimize these advantages. The book doesn't concentrate on any one sport, it looks at the betting market as a whole. It explains the breakeven point and the expected value. How to convert from American to fraction. There is no magic formula for winning. Just solid information about the industry to educate the reader.

I have to admit I'm not a sports bettor, but have been interested in the process behind it and wanted to see how that process of finding good bets could help me out in picking good investments. I can say that this book delivered in a BIG way!Not only did the author go over a process that made him a success, but a lot of the theory behind *why* he placed bets were the same as why one buys securites: You spot a mistake in the pricing that makes the bet (trade) attractive. In fact the BIGGEST takeaway from this book was the phrase "Bet the mistakes!" If you get nothing else out of this book, you have got your money's worth, as it is the key to profitable betting and trading.If you are wondering how anyone can beat the games (or markets) then this book should be your FIRST step!