Saturday, 27 February 2010

Expect to win

A while ago there was a correct score laying thread on one of the betting forums by a man called Scotty(I'll post the link if I can find it). Scotty successfully layed some 350ish correct scores in a row.
Now a lot of people were in awe of Scotty after this but it really wasn't all that impressive and i'll explain why.
IIRC almost all his correct score lays were priced between 100 and 300. Assuming neutral ev bets, if we take the average as 200 then Scotty's expectation is to lose 1 in every 200 times and he actually lost 1 in 350. Good yes but given that it's less than twice his expectation it's hardly amazing.
A good analogy would be a gambler getting two winners in a row at evens(2) which is actually more impressive than Scottys run of wins as it is running at double the expectation whereas Scotty was just less than double.
This is not to belittle Scotty's thread in any way, just to say that it didn't quite deserve the awe it received.

So anyway my point is that you should expect to win almost every bet and the difference between winning and losing at correct score laying(and gambling in general) is the price you take. Don't be afraid to let one bet go. If you liked it at 20 it doesn't mean you like it at 25.
For example I have a success rate of just under %98 at an average price of around 21. Now if I just took any price, that could push the average up to 30 or more and turn a profit into a loss.

2 comments:

  1. Hi,

    Found your blog via edgehunters, fancy swapping blogs ?
    http://brucemcc11.blogspot.com/

    Bruce

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  2. Scottys average odds was around 110 i do belive to remember. You can find his thread at punters lounge forum. He used a weird system where he banked some of his profit for each bet and the rest he staked. His results is misleading as you said...

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