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quote originally posted by JOGK: Dont forget that you do it Others too can do it If like you said that method s.ure win How come punters never do that in the real world? |
I never say s.ure win, bro.. All I'm saying is some will bankrupt in no time, some will make it to top 100 easily, but majority will do fairly well.. It's not an easy thing to do in the real world because of various reasons, i.e. betting limits imposed by the operators, the nature of luck against you, the fact that not many people have the resource/guts, and those who are already wealthy have no need for this . In casino, they impose betting limits upto 10K. If you are a high roller, they invite you to play in the VIP area where either you play against other high rollers (no loss to casino) or casino take you on (but they buy insurance from insurance companies to cushion their possible losses), and various other risk managment tools. In soccer betting, the system will alert to their sports trader if you have a huge bet, and they will either adjust the odds down drastically according to your huge bet or reject your bet. And yes, if I can do it, others can do it too. This is the point that I'm making, because once it's attractive for everyone to do it in the Tipster Competition, it becomes a game of LUCK rather than SKILL. Unless the competition odds can be adjusted automatically when you make a huge bet, i.e. if you make a $1M bet the odds that is originally 1.90 drops to 1.50 to reflect the size of your bet.
This message was edited by Fahrenheit on 05-Jul-2017 @ 2:59 PM
"Margin of Safety" as the Central Concept of Betting A team's past ability to create quality chances is the expected number of goals that they should have produced. The expected number of goals in excess of the actual number of goals constitutes the "margin of safety". The margin is counted on to cushion the bettor against discomfiture in the event of a performance decline in the upcoming fixture. The soccer bettor does not expect the upcoming fixture to work out the same as in the past. If he were sure of that, the safety margin demanded might be small. The function of a safety margin is, in essence, that of rendering unnecessary an accurate estimate of the team's winning probability in the upcoming fixture. If the safety margin is sufficiently large, then it is enough to assume that the team's upcoming performance will not fall far below their expected goals in order for the bettor to feel sufficiently cushioned against bad luck. The safety margin is always dependent on the odds that the bettor accepts from the bookie. It will be large in certain odds, small at some lower odds, and negative when the odds is too low. However, even with a safety margin in the bettor's favour, he may lose his bet. For the margin guarantees only that he has a better chance of winning - not that loss is impossible. Theory of Diversification There is a close logical connection between the concept of safety margin and the principle of diversification. One is correlative with the other. Even with a margin in the bettor’s favor, an individual bet may work out badly. But as the number of such commitments is increased the more certain does it become that the aggregate of the profits will exceed the aggregate of the losses. This point may be made more colorful by a reference to the arithmetic of roulette. If a man bets $1 on a single number, he is paid $35 profit when he wins—but the chances are 37 to 1 that he will lose. He has a “negative margin of safety.” In his case diversification is foolish. The more numbers he bets on, the smaller his chance of ending with a profit. If he regularly bets $1 on every number (including 0 and 00), he is certain to lose $2 on each turn of the wheel. But suppose the winner received $39 profit instead of $35. Then he would have a small but important margin of safety. Therefore, the more numbers he wagers on, the better his chance of gain. And he could be certain of winning $2 on every spin by simply betting $1 each on all the numbers. (Incidentally, the two examples given actually describe the respective positions of the player and proprietor of a wheel with a 0 and 00.)
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