Sports betting theory definition
People will often bet on teams they root for.
How can this be turned into a probability game?Imagine two die-hard fans both believe their respective team will win.Because odds are significant in football betting, one betting on his own team certainly can be a given bad bet because of bad odds.Due to one team being better than or having better odds than the other, their is one safer bet to make but both fans believe they are making the smart bet on emotion.So lets say I am a third party betting with James and Steven.
James is a Cardinals fan and Steven is a Packers fan, while Im a Steelers fan and have no connection to the game.Now lets say James is willing to bet on 4 against 5 odds that the Cardinals will win, and Steven is willing to bet the same that the Packers will win.Because of their predictability in their bets, I can bet them each and guarantee myself a 1 payout.Comments, leave a Reply.
Sports betting lingo can be confusing, especially those new to the industry.The glossary below contains many of the most commonly-used terms, concepts and strategies that you will see on this site and across sports betting as a whole.Bet 25, Win 100 if the Suns Hit.Full Review, bet 25 on Suns-Bucks, win 100 if the Suns hit a 3-pointer.