The first thing you’ll want to know is how the odds work and what the terminology is for understanding different types of terms.
Consider 2 teams (Team A and Team B, for simplicity sake. It doesn’t matter what sport right now). Imagine that you are the bettor and you are putting up your money in favor of a single outcome of the game. You are betting against a bookie.
If the outcome you want happens, you get your bid and the bookie’s bid. If the outcome you don’t want happens, the bookie gets his bid and your bid.
But as you know, not every team in any sport is exactly evenly matched.
Let’s put aside the idea of betting for a moment and let’s imagine that you are entering an arm wrestling competition. Each player is asked to put up $10 just before they arm wrestle. The winner takes their initial stake and the $10 of the losing player.
You step up to your first match. It’s someone who appears to be the same size and strength. You are evenly matched. So you arm wrestle. It’s a fair match and the winner takes the loser’s money.
Now imagine that you step into the match but instead of it being someone who is the same size as you, it’s a former body-builder who weighs twice what you weigh and has been in the record books for winning arm wrestling matches for years. He plunks down his $10 and smiles at you. Are you going to play? Likely not. Your chances of winning are pretty slim. Given the choice between this arm wrestler and the first one, you’re likely going to go back and wrestle the first guy again! So instead, the arm wrestler puts down $100 to your $10. Although you may not have a great chance of winning, the win is better. If you do win, you’ll win more because arguably, you had to work harder for it.
Now imagine just the opposite scenario: you step up to the arm wrestling table and you’re greeted by a six year old girl. You put down your $10 and she looks sceptical! She tells you that she needs better odds than that so you put down $100 and she puts down her ten and arm wrestles.
It’s very similar in the betting world. In cases where teams are evenly matched, the bet placed by you and by the bookie are usually close, called “evens bet”.
This has been an excerpt from Robert Thatcher’s flagstaff manual, the Statistical Betting Guide [http://www.statisticalbettingguide].
Sun Tzu said: “If you know the enemy and know yourself, your victory will not stand in doubt”. Making money with sports betting has nothing to do with gambling. Do you want to learn the secret methods successful bettors apply each and every day?
Robert Thatcher explains in easy words how to make money with sports betting. Download your copy at http://www.statisticalbettingguide.com