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How Knowing Your Statistics Can Help with Betting

October 15, 2020

How Knowing Your Statistics Can Help with Betting

 

Gambling is something that can be enjoyed in so many ways. There are countless events around the world every day that draw casual bettors who will pick a result based on nothing but a hunch or because they like the name of a team or horse, and so on.

However, there are also lots of professional gamblers and number driven people who spend a lot of time analysing statistics in the hope that theyll find an edge over a bookmaker or an online casino like https://www.liveroulette.com/. The good news for those people is that statistics can certainly help to improve your chances of a win but there are a few things to consider before parting with your hard-earned cash.

Identifying Strengths and Weaknesses

One of the biggest positives of using statistics to gamble with is that they provide you with insights to make an informed decision. If youre serious about betting, then this kind of information is invaluable.

Knowing that a football team is good is enough to make a basic decision to back them against lesser opposition, but the odds arent always favourable in this regard because its common knowledge. However, if you know that a team tends to score a lot of goals against particular opposition, or that a player gets send off regularly against a certain team, then these statistics can help to provide great value in the betting markets.

Considering Context of Sport Statistics

Likewise, knowing that a team generally performs well is enough to understand why they are the favourites to win a game. However, understanding the context can give you an increased edge.

For example, consider a bigfootball team thats set to play a lower league team in a cup competition. The bigteam may remain favourites, but an experienced gambler can take the time to research how the team performs when second-string players are brought in. Perhaps they are more likely to lose when their second-choice goalkeeper plays, for example. Finding a valuable bet relies on statistics and context.

Statistics of the House Edge

Inexperienced gamblers often feel that casinos are rigged. When they log on to play games they can believe that any loss incurred must be due to the house cheating but this isn’t the case.

On the contrary, casinos are destined to win in the long run because they have a house edge which, for most games, means they’ll earn a few percent of the overall takings over a long period of time. However, that doesn’t mean that players can’t improve their odds of winning a single bet. Understanding statistical advantages and disadvantages of hands of blackjack, for example, can be the difference between winning and losing any single wager.

Understanding Statistical Advantages Against Human Players

Statistics really shine when it comes to a player vs player situation in casino games. Poker is a good example of this because youre playing against other people and not the casino itself. That means that you can manipulate certain situations in a game to benefit you if you understand the statistics behind each move you make.

Lesser experienced players will almost always lose to those who understand the statistics of each hand in the long run. Thats why its important to take the time to learn the ins and outs if youre planning to earn money playing games like poker.