Have you ever successfully predicted the outcome of a sports match? How much sweeter would that victory have been if you had earned profits based on those insights and predictions? Hi, my name is DJ Kiddo, and I’m the spokesperson for this 5 Minutes Betting Systems video series by BettorClub. In today’s video, we will be talking about probability statistics in sports betting. Keep watching to learn more about how you can use the laws of probability to maximize earnings from your wagers. Before we dive deep into this subject, subscribe and turn on your notifications so you will be updated with the latest and juiciest tips and tricks about the best industry practices in the sports betting world.
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Let’s Begin By Understanding What Probability Statistics Is?
No matter which sport you favor, any single match is affected by numerous internal and external factors that can influence the outcome. Admittedly, this unpredictability is part of the ultimate allure of sports betting. But how can you, as a bettor, identify value bets more effectively and have the edge over the sportsbooks?
The answer is – Thorough Statistical analysis.
Statistical analysis refers to the process of calculating the most likely odds on any game based on past proven data and its measurable outcomes. Statistical analysis involves mapping out any observable patterns that appear over time or under unique circumstances. Sportsbooks will almost always manipulate the expected odds of a game to make a profit regardless of which team wins, which is why bettors need to calculate the real probabilities of matches themselves. Now let me take you through a step-by-step process of how to conduct statistical analysis on your bets.
- Identify the most likely factors to affect the results of the game and then calculate the individual probabilities for each outcome. Focus on variables that have a high correlation to winning and aren’t apparent to the general betting public.
- Use regression analysis – It is the process of determining the relationship between a dependent variable and one or more independent variables.
- Use probability distributions to find the range of probabilities as well as exact likelihoods for each possible outcome.
- Now compare your calculated probabilities with the expected possibilities set by the sportsbook.
If the percentage of the expected probability statistics posted by the sportsbook is much lower than the ratio calculated by you, then there is value in that bet. Just remember, bettors must only wager on bets that have a positive value to remain profitable in the long run. We hope you find this video informational and useful. You can also check out other videos related to betting, sports betting, betting strategy, and more in this 5 Minutes Betting Systems video series BettorClub. So be sure to subscribe and turn on your notifications if you haven’t. Till then, good luck and see you in our next video!
