Originally Posted by Lilylololi
nice looking, thanks
This is quite long and covers your question and sports betting as a full-fledged activity. I bet all year round, but I don't know if I will call myself a professional sports player, and I don't have a bankroll to ever become a “shark”, but I know the industry and the sport inside and out and invest significant amounts in every season. If you want to see what work goes into this, rather than just explaining the numbers (meaning nothing to those who don't bid full-time and not helpful to those who already know), read it and let me know if you have any questions.**
As a hobby or something that you only do because you love sports and think you can pick winners because you always tell your friends who will win on that day, no, definitely not worth it as an opportunity to make money or some kind of money management plan to increase your initial investment. But I think it might be worth it to do a fun thing and make the games a little more interesting. But only so, with small enough stakes that the loss of money does not matter much. Some will say that throwing money away is always stupid, but giving up $5, $10, or even $100 doesn't really matter to some. As long as you don't cut your rent or mortgage payments, your food budget, or just get paid every month because of rates, I don't see why it can't just be fun if that's what you want to do.
On the other hand, I put sports mainly as a second income. I am very grateful that I have a job in engineering that gives me the ability to bet enough to achieve this goal and leaves me with a safety net to lose what I have invested and be OK. Just an example-for this year's College football season (2018), I invested $ 10,000 in the regular season. I can do whatever I want during the season with this, but I won't buy back. I will also never exceed $ 10,000 in bets at the same time. My account will always be considered as having $ 10,000 during this season because I never want to bet more because I won and made a profit. This is a common problem for players, and it's really hard to avoid the thought that I can do a lot more if I put a lot more on it. It is 100% true that money Management is the most important aspect of sports betting. If you can't do it well, you can get into serious financial problems at worst, and less importantly, but still relevant, you won't be able to beat sports books constantly or for a long time without understanding what bets make sense, understanding how much to bet, which lines to bet, and which matches offer the highest percentage of wins and payouts. Most gambling enthusiasts place bets based on how much they can win in a bet, handicap, or shark, where they get the best odds on their money. Maybe they don't even believe the team will win, but if the value makes sense, they will bet on it because it makes sense from a financial point of view. So, for example, you have $ 2,000 and you want to bet no more than two games. The average person usually bets on the maximum possible number of outcomes, but in this case they take two teams, and we will say that the standard line is -110. What has happened is that you have really damaged your chance to profit from this bet. This is because you start each match with a base, implied coefficient of 52.38%, which means that you have a 100 % chance of winning one game. This comes from a -110 line (if it were -100 or even odds, you would have a 50% chance of winning), which is converted to 1.91 decimal odds. You divide 1 (one bid) by a decimal percentage (1/1. 91) and get 52.38%. So in two games, at -110, you will have a 13/5 fractional chance (just an example here) to win, or 2.6 decimal chances, so you must divide 1 by 2.6, which gives you a 38.46% implied chance of winning both bets. And that will pay these rates? Win one of them in the amount of $ 1000 with a coefficient of -110 (1.91 decimal coefficient, so 1.91*1000=payout), and you will receive $ 909.09 of winnings and a total refund of $1909.09 with the returned bet amount. So perhaps you will understand why 2 bids would not be a great investment. If not, here's why. Let's say you only won 1 of two matches, you get a payout of $ 1909.09, so you lost money on your bets during the day. And with only a 38% chance of winning (usually it will be a little less, maybe a little more depending on the odds and line) both bets and taking $ 1818.18 profit, you won't beat those percentages over time, which is the only thing that matters to a professional gambler. By betting all your money on one outcome, you get the best chance of winning and the same payout amount, so obviously you get the best return on your money and will have a better chance of walking away with a profit at the end of the season. So this is a very simplified example and doesn't take into account lines or scoring options for an outsider with a decent positive money line. Just here you need to formulate a rule: never bet more than you can afford to lose or care about losing.