Sports betting: how much knowledge is too much

[Maslate]

It is always good and fun to have a lot of knowledge. You can take advantage of it when betting on matches. The problem remains of course that you depend on the performance of a player or team, and based on statistics and probability calculations you will always lose in the long run, because the house always has an advantage. I think it is especially important to have discipline and to keep using it.

Yes, Knowledge is power and that will be a lot of help when betting. I agree that the best tool to decide in betting is knowlege though it may not going to work most of the time but at least you can have an advantage.

Most likely having a knowledge in the bet will likely give you more insights on how, why and when to bet. However, it will still not a guarantee to win in the bet. Being lucky is more important key to win at all. LOL

Knowledge is easy to learn in gambling, but if you have enough experience where you learn from your mistakes, that would make you a great sports bettor and you might succeed gambling in sports. Forget about the saying that gambling is an easy money, that is not true, if you believe that you'll certainly lose as you are not realistic, the truth is, in gambling only few are profitable, the rest are losers that's why casinos are profitable in general.

[bitzizzix]

It is always good and fun to have a lot of knowledge. You can take advantage of it when betting on matches. The problem remains of course that you depend on the performance of a player or team, and based on statistics and probability calculations you will always lose in the long run, because the house always has an advantage. I think it is especially important to have discipline and to keep using it.

Yes, Knowledge is power and that will be a lot of help when betting. I agree that the best tool to decide in betting is knowlege though it may not going to work most of the time but at least you can have an advantage.

Most likely having a knowledge in the bet will likely give you more insights on how, why and when to bet. However, it will still not a guarantee to win in the bet. Being lucky is more important key to win at all. LOL

Knowledge is easy to learn in gambling, but if you have enough experience where you learn from your mistakes, that would make you a great sports bettor and you might succeed gambling in sports. Forget about the saying that gambling is an easy money, that is not true, if you believe that you'll certainly lose as you are not realistic, the truth is, in gambling only few are profitable, the rest are losers that's why casinos are profitable in general.

I agree, but it is much better if knowledge and experience go hand in hand which will help your sports betting have a chance of winning.
Knowledge will help your insight and know the situation about sports that will help in betting, and experience will help you when betting on sports to be more careful because you always learn from mistakes or experiences that will make you a smart bettor.
indeed any gambling bet is not far from luck, but you will have a chance to win if you have enough knowledge and experience.

[tabas]

Maybe those who says it is easy are those who has a cheat or so very Lucky in gambling .

There's no cheat in legitimate casinos or sportsbook. If caught to be abusing the system, you will be forever banned and that's going to show you what kind of gambler you are.
Somehow, there could be a strategy that's effective to beat the bookies but cheat? I don't think one will exist for a long time.

[South Park]

Having good knowledge and enough information is such an advantage for you to win the game but it doesn't mean that you the odds of winning are always on your side, it will help you to know whether the opponent team is matched on the team you know, that is the only advantage that you can have in sports betting. It is really hard to bet or to choose where to bet if you don't have a little bit of knowledge about the game. It is just a full guess for you and it will only be based on the luck if you win the bet.

I think it depends on what type of gambling you do if for sports gambling it will be very difficult because sometimes what has been predicted does not match the predictions made, so I suggest not only rely on knowledge because the luck factor can at least be combined with luck with the knowledge you get.

This is not really possible because we cannot control our luck, if there was a way to do that then you may have a point but it is impossible so when you are playing a game of skill then you need to rely 100% on your knowledge, it is true that if you do this luck is still going to play a factor but the way to deal with this especially when you are suffering from bad luck is to rely on your money management skills so when you lose several times in a row your capital is not really that affected by it.

[shamimal93]

When you research a team, you have a better chance of winning any bet.  There is a distinct value of knowledge everywhere.  When you do research and bet on a team, your chances of winning increase by 80 percent.  Because you know what kind of pitch a team has, what kind of pitch a player plays well in a team.  If you know something you can easily determine which team will be the winner.

[bitbunnny]

It's good to have some knowledge about the spot you bet on, even better if you follow that sports and players for a long period of time. That makes your chances to win bigger. However, sometimes that also can be a trap because with time you might get too self-confident, thinking you know everything and can predict everything and that is the time you might play too hazardous.

[chaser15]

However, sometimes that also can be a trap because with time you might get too self-confident, thinking you know everything and can predict everything and that is the time you might play too hazardous.

It's not a trap. It just shows that you are confident in your bet because you study, analyze, research on it. That's what your knowledge served for.

Way better than betting on random bets just because someone suggested it either via free picks, tipsters or you saw a majority putting on that specific bet.

It's ok to be overconfident out from your own knowledge compare when you are just overconfident because someone told you that's a good bet.

[Oilacris]

However, sometimes that also can be a trap because with time you might get too self-confident, thinking you know everything and can predict everything and that is the time you might play too hazardous.

It's not a trap. It just shows that you are confident in your bet because you study, analyze, research on it. That's what your knowledge served for.

Way better than betting on random bets just because someone suggested it either via free picks, tipsters or you saw a majority putting on that specific bet.

It's ok to be overconfident out from your own knowledge compare when you are just overconfident because someone told you that's a good bet.

True and when you do lost on that certain bet then you wont really have that feeling of regret because you know that you had did your best on that one without relying any other on making up decision.

compared when you do just bet just because its been suggested or recommended and it lost then you will surely have that mindset on giving out the blame into that someone who do suggest.

Nothing beats out the contentment if you do just make your own analysis neither it would lose or win then it doesnt matter as long you do enjoy on what you're doing.

When you research a team, you have a better chance of winning any bet.  There is a distinct value of knowledge everywhere.  When you do research and bet on a team, your chances of winning increase by 80 percent.  Because you know what kind of pitch a team has, what kind of pitch a player plays well in a team.  If you know something you can easily determine which team will be the winner.

We can know the odds and presume out the winning chance but it isnt finalized yet unexpected circumstances can really happen along with the game which will

greatly affect the outcome.As long the game do progress then its never been ideal to presume out that it is already anticipated for you to win.

[hahay]

However, sometimes that also can be a trap because with time you might get too self-confident, thinking you know everything and can predict everything and that is the time you might play too hazardous.

It's not a trap. It just shows that you are confident in your bet because you study, analyze, research on it. That's what your knowledge served for.

Trap or not, basically being overconfident indeed could be dangerous for himself. Too much knowledge is good but if you can't make the most of it, I think it will also be useless and therefore, self-control in gambling is an indispensable factor. Having a lot of knowledge by adjusting to several supporting factors, then in the end it is something that will give you an advantage in betting.

[Botnake]

However, sometimes that also can be a trap because with time you might get too self-confident, thinking you know everything and can predict everything and that is the time you might play too hazardous.

It's not a trap. It just shows that you are confident in your bet because you study, analyze, research on it. That's what your knowledge served for.

Trap or not, basically being overconfident indeed could be dangerous for himself. Too much knowledge is good but if you can't make the most of it, I think it will also be useless and therefore, self-control in gambling is an indispensable factor. Having a lot of knowledge by adjusting to several supporting factors, then in the end it is something that will give you an advantage in betting.

I think the most important is just to know and manage the risk, being overconfident will make you underestimate the risk in betting and that is not a good attitude for a bettors as in every bet, there's always a risk regardless of favorable the odds you think.

[Russlenat]

However, sometimes that also can be a trap because with time you might get too self-confident, thinking you know everything and can predict everything and that is the time you might play too hazardous.

It's not a trap. It just shows that you are confident in your bet because you study, analyze, research on it. That's what your knowledge served for.

Trap or not, basically being overconfident indeed could be dangerous for himself. Too much knowledge is good but if you can't make the most of it, I think it will also be useless and therefore, self-control in gambling is an indispensable factor. Having a lot of knowledge by adjusting to several supporting factors, then in the end it is something that will give you an advantage in betting.

I think the most important is just to know and manage the risk, being overconfident will make you underestimate the risk in betting and that is not a good attitude for a bettors as in every bet, there's always a risk regardless of favorable the odds you think.

I completely agree with that, no one should not be too confident as gambling is not made easy for us to win, yes there's no house edge in sports betting but you still can't deny the fact that most bettors are losing money in sports betting, and that explains how risky it is to gamble without discipline and deep knowledge in sports betting.

[carlisle1]

It is always good and fun to have a lot of knowledge. You can take advantage of it when betting on matches. The problem remains of course that you depend on the performance of a player or team, and based on statistics and probability calculations you will always lose in the long run, because the house always has an advantage. I think it is especially important to have discipline and to keep using it.

Yes, Knowledge is power and that will be a lot of help when betting. I agree that the best tool to decide in betting is knowlege though it may not going to work most of the time but at least you can have an advantage.

Knowledge is nothing if you don't know how to manage your attitude and self control because that will save you a lot in gambling and your money and time.

Remember that the more you bet is the more you may lose too much so stop being aggressive gambler and be a responsible gambler.

Most likely having a knowledge in the bet will likely give you more insights on how, why and when to bet. However, it will still not a guarantee to win in the bet. Being lucky is more important key to win at all. LOL

Luck and knowledge is best combination together with discipline ,it is not bad to be a gambler but not to be an addicted.

[Betwrong]

~ yes there's no house edge in sports betting ~

This is not exactly accurate. There is a house edge in sports betting, or sportsbooks wouldn't survive otherwise. But what is true is that, like in poker, the house edge in sports betting affects the outcome to a much lesser extent. Your skills and knowledge can help you to beat that house edge in some cases(something  which is absolutely impossible in purely luck based games).

[freedomgo]

~ yes there's no house edge in sports betting ~

This is not exactly accurate. There is a house edge in sports betting, or sportsbooks wouldn't survive otherwise. But what is true is that, like in poker, the house edge in sports betting affects the outcome to a much lesser extent. Your skills and knowledge can help you to beat that house edge in some cases(something  which is absolutely impossible in purely luck based games).

It seems like sportsbook really have an edge as explain by this article.

https://www.casinolifemagazine.com/blog/casino-odds-vs-sports-betting-odds-real-house-edge

Sportsbooks’ edge may surprise some

So, what are we looking at when it comes to a sports bet? Looking at something simple like the FA Cup Semi Final between Tottenham Hotspur and Manchester United (21st April). A market with two simple outcomes like who will qualify for the Final see Bet365 offering odds of 8/15 for Spurs and 11/8 for United. The implied probability for a Spurs win is 65.2% and the implied probability for United’s win is 42.1%.

The percentage adds up to 107.3%. This 7.3% amount over 100 is known as the “overround” in bookmaking terms, which is effectively the profit the bookie expects to make on the market. Without getting into the mathematics behind the margins, you can see that the relative house edge for bookmaking can be higher than roulette.

Before you go rushing to close your bookmaker account, you must also remember that predicting sports’ outcomes is more scientific than the pure chance of roulette. For example, we know that the last time Spurs and United clashed at Wembley, the former won the match 2-0. This is an indicator for the outcome of the semi final, whereas if red was the last outcome in a roulette game it would have no bearing at all on what the next result will be.

[3meek]

Bookmaker's always have an advantage! At least that sometimes they can overestimate the odds for obviously the same indicators! For example, recently played football match with N.Ireland and Bosnia and Herzegovina... In principle, the teams are similar in strength, even N.Ireland looked better! So, the original preference was given to Bosnia (x1.6) and N.Ireland (x6).... What is this, advantage or manipulation?

[South Park]

~ yes there's no house edge in sports betting ~

This is not exactly accurate. There is a house edge in sports betting, or sportsbooks wouldn't survive otherwise. But what is true is that, like in poker, the house edge in sports betting affects the outcome to a much lesser extent. Your skills and knowledge can help you to beat that house edge in some cases(something  which is absolutely impossible in purely luck based games).

This is a myth that I see all the time and that as you say it is completely false, sportsbooks need to turn a profit and for that they need a house edge, which is not wrong but the good thing is that you can overcome it with your own skills, however it is important to know what it is the house edge on each game so you can select the best lines that give the smallest advantage to the casino so your job is made easier, after all if there is a house edge of a 5% in a soccer game that is way easier to overcome than a 10% house edge in another soccer game.

[Betwrong]

~ yes there's no house edge in sports betting ~

This is not exactly accurate. There is a house edge in sports betting, or sportsbooks wouldn't survive otherwise. But what is true is that, like in poker, the house edge in sports betting affects the outcome to a much lesser extent. Your skills and knowledge can help you to beat that house edge in some cases(something  which is absolutely impossible in purely luck based games).

This is a myth that I see all the time and that as you say it is completely false, sportsbooks need to turn a profit and for that they need a house edge, which is not wrong but the good thing is that you can overcome it with your own skills, however it is important to know what it is the house edge on each game so you can select the best lines that give the smallest advantage to the casino so your job is made easier, after all if there is a house edge of a 5% in a soccer game that is way easier to overcome than a 10% house edge in another soccer game.

Right, and since we are talking about myths, let's bust another one.

They say "the house always wins", in a sense that you will eventually go bankrupt, but in reality it's not what the house edge is doing. The house edge is there to make all the gamblers, in total, on a betting platform lose a small part from their bets. Almost nobody is losing exactly the house edge after, say, 100 bets. One particular bettor can be either in profit or loss, and it is uncertain, how many bets it can take to lose everything to the house. It can take 20 years of constant betting, or 200 years, nobody knows.

[Debonaire217]

Right, and since we are talking about myths, let's bust another one.

They say "the house always wins", in a sense that you will eventually go bankrupt, but in reality it's not what the house edge is doing. The house edge is there to make all the gamblers, in total, on a betting platform lose a small part from their bets. Almost nobody is losing exactly the house edge after, say, 100 bets. One particular bettor can be either in profit or loss, and it is uncertain, how many bets it can take to lose everything to the house. It can take 20 years of constant betting, or 200 years, nobody knows.

Basically, winning and losing will depend on the random algorithm that the house putted to their system for the bettors. Usually, for the cryptocurrency based games, the codes used is always audited to make sure that the game is fair. Meaning, we could trust the house from cryptocurrency gambling sites because they are verifiable. But in terms of physical casinos, it is hard to trust them since we don't know if they putted a tricked, let say, to always give the house an edge to long term betting.

[tabas]

Bookmaker's always have an advantage! At least that sometimes they can overestimate the odds for obviously the same indicators! For example, recently played football match with N.Ireland and Bosnia and Herzegovina... In principle, the teams are similar in strength, even N.Ireland looked better! So, the original preference was given to Bosnia (x1.6) and N.Ireland (x6).... What is this, advantage or manipulation?

I think both. An advantage for them and at the same time with manipulation. It's all about business, whether both teams are equal in terms of strength, standings and other criteria. But all sports bookie are all in for the profit having calculation which will be favored to them.
And AFAIK, most of us here are aware of that.

[Twinkledoe]

Bookmaker's always have an advantage! At least that sometimes they can overestimate the odds for obviously the same indicators! For example, recently played football match with N.Ireland and Bosnia and Herzegovina... In principle, the teams are similar in strength, even N.Ireland looked better! So, the original preference was given to Bosnia (x1.6) and N.Ireland (x6).... What is this, advantage or manipulation?

I think both. An advantage for them and at the same time with manipulation. It's all about business, whether both teams are equal in terms of strength, standings and other criteria. But all sports bookie are all in for the profit having calculation which will be favored to them.
And AFAIK, most of us here are aware of that.

We can't deny the fact that bookies want to earn huge money from this business. That kind of odds is widespread in a lot of bookies. So make sure to use a relatively good bookie. And right now, I've encountered this thread = comparison website in sportsbooks - https://bitcointalk.org/index.php?topic=5279405.0 . Seems good to use to see at a glance about the odds on each sportsbook. Though they still have a lot to add here.