What about low odds in sports betting?

[Yatsan]

I recently came across a discussion about low odds in sports betting. I never believed that using low odds in sports betting could lead to success. And I believed that the reason for this state of affairs was that one loss can cancel out many victories. For me, this seemed like something that did not require proof, until a man began to argue with me, who, according to him, had achieved success in sports betting and had been taking profits from bookmakers for a long period.
 His strategy is:
1. He selects matches with relatively low odds, the outcome of which is more or less clear. For example, when an experienced team plays with outsiders.
2. You should choose many such matches for diversification purposes, so that one random loss does not wipe out all your winnings.
3. It follows from this that in most cases, low odds work out, and random losses are offset by a large number of wins.
 I would like to ask you, what do you think about such strategies? What do you think are the disadvantages of this strategy?

If its works for you then that's great . It really depends on your goals in gambling, to be honest. If you are after big gains then this won't be advisable gigen that low odd bets generate small profit even if you would be bettinf with huge amount. High odds would indeed create bigger risk, but of course bigger rewards which is what gambling is all about to some people. In line with this low odd strategy, people are extending their wagered amount given that it's more likely to be a winning bet however nothing's assured in gambling. A loss would be a burden if you would be increasing amounts even in multiple bets.

Perhaps you have 5 $300 bets and rewards on each would be $50 (just an example). Losing one game will be that much of an impact right?

[uneng]

2. You should choose many such matches for diversification purposes, so that one random loss does not wipe out all your winnings.

I think I didn't understand this point very clearly, because even if you diversify your bets a lot, placing many small bets aiming low odds winnings, you still can't be assured this strategy is going to work, because one or another defeats are still likely to happen, and you need just one defeat to cancel your progress from ten winnings, for an example, considering you are playing with 1.1x odds.

On long run it still doesn't sound a working strategy for me. In the end you will be putting a lot of effort on it to select the matches you are going to bet, and just to make tiny profit on the bigger picture, if everything goes as expected. On the other hand, it takes just few minor mistakes to turn this strategy into a losing one. I think it's not cost effective, unless you have a lot of fun doing this...

[lixer]

If we are talking about bets such as 1.2 or 1.3, then such bets can be profitable, but, of course, you cannot focus on only one parameter - the size of the bets. Any bookmaker can make mistakes. But the fact is that if the bet is relatively low, then this indicates a high statistical probability of victory for that team or player. You should carefully study the future match and find out why there are such bets on this game. But imagine that we have recruited highly likely candidates to win, for whom bookmakers offer low bets. In this case, the bet of each team is approximately 1.33. If out of 8 bets 2 lose and 6 win, you will be left with your money (that is, you will receive zero profit). And for you to receive a loss, you must lose more than 2 teams out of 8. Is this a lot or a little for such bets? Everyone answers this question in their own way.

High odds or low odds, both are profitable but it's just that it's hard to win on one of them. The other is easy but you need to increase your betting size, in order for you to be satisfied. That's right that in betting for profit, we need to pay attention in many things if we are really eager to win.

It may not still be guaranteed but we are sure that it increases our chance. No one is perfect but anyone can make a mistake. If it's the bookmaker, I think they are able to give us some compensation if it affects our gameplay. If we think that something isn't right, then maybe there is fixed matches going on? It's up to us if we will avoid it or ride it because we knew if who can possibly win.

[Nrcewker]

Definitely if you bet on low odds the chances of winning the bet is high. As the game is going into one team’s favour, hence they have given the low odds. So the less the odds are, the more chances that the team will win. But practically it won’t be profitable. Suppose let’s say, you win consecutive three bets at 1.3x odds, but made loss in the 4th bet with 1.3x odds, so in the overall loss/profit ratio, you made loss only. Hence don’t chase behind the odds, do proper research and then only place the bet irrespective of the odds offered.

[Assface16678]

2. You should choose many such matches for diversification purposes, so that one random loss does not wipe out all your winnings.

I think I didn't understand this point very clearly, because even if you diversify your bets a lot, placing many small bets aiming low odds winnings, you still can't be assured this strategy is going to work, because one or another defeats are still likely to happen, and you need just one defeat to cancel your progress from ten winnings, for an example, considering you are playing with 1.1x odds.

On long run it still doesn't sound a working strategy for me. In the end you will be putting a lot of effort on it to select the matches you are going to bet, and just to make tiny profit on the bigger picture, if everything goes as expected. On the other hand, it takes just few minor mistakes to turn this strategy into a losing one. I think it's not cost effective, unless you have a lot of fun doing this...

Well strategies are depends on the people or bettor itself, I mean maybe for OP it works or some bettors used this strategy and actually benefitting from it, but yeah I agree with you, I'm more on doing one or few bets that I think has the higher chance of winnings because I do analysis and look for strategy, so thay I could increase my chances of winning or picking the right team or player, I'm not gonna bet if I know that I dont have a clear vision of what will be the possible outcome of the match, it may be hassle but that's the only thing I can do in order to secure a win bet because for me betting can be more profitable if you will do your part by doing the necessary things such as analysing and critical thinking. Also, I'm a meticulous gambler, meaning I don't bet when I don't feel like it or if I feel a little bit worried about the bet.

[bitcoin_mining]

Relying on your luck is fine when it comes to sports betting, but along with relying on luck, you have to rely more on your own skill.
At least we should have this skill that if we play between two teams so that we can always put the stronger team ahead of the two teams. If he doesn't have that much sense, I think there is no need for him to come to sports batting because if he doesn't make that much difference here, he will only keep losing money. Before placing a bet on a team, you need to check the outcome of the match as much as the manager plans the match, and then decide on your gamble.

[bakasabo]

I can only say that low odds are not worth taking risk. I story, when a person bet millions just to win $10k and lost, came to my mind when I see someone saying that low odds are profitable. If bettors goal is to have fun, then I can accept that low odds would be reasonable. If the goal is to earn, then it is no worth spending time on that. People think that low odds in sports betting are easy money, but so far I havent seen anyone who became rich with such a strategy. Think about that.

[TheUltraElite]

Your multiplier will be low in these cases. Like close to 1.1x and thus if you manage to get a big number of such wins you might be able to amass a good amount of money if and only if your capital is also big, like say 1btc on 10 such bets. You will end up with 11BTC or more In this example.

But this is risky because a single loss will reduce your capital by a significant amount.

Hence I will not agree that the method is 100% accurate, but risky indeed

[wiss19]

I recently came across a discussion about low odds in sports betting. I never believed that using low odds in sports betting could lead to success. And I believed that the reason for this state of affairs was that one loss can cancel out many victories. For me, this seemed like something that did not require proof, until a man began to argue with me, who, according to him, had achieved success in sports betting and had been taking profits from bookmakers for a long period.
 His strategy is:
1. He selects matches with relatively low odds, the outcome of which is more or less clear. For example, when an experienced team plays with outsiders.
2. You should choose many such matches for diversification purposes, so that one random loss does not wipe out all your winnings.
3. It follows from this that in most cases, low odds work out, and random losses are offset by a large number of wins.
 I would like to ask you, what do you think about such strategies? What do you think are the disadvantages of this strategy?

The only disadvantage of this strategy is that if you lose consecutive bets, you will start to lose a lot of money. If you are choosing odds like 1.2 or something, you will need to win 5 matches to cover what you have lost in a single game because you are only getting 0.2x over your bet. So the profitability of this strategy depends on how many games you are winning and how often you are getting a loss or a few losses.

I believe someone shouldn't always target lower odds because sometimes, the odds don't play out the way they are shown, and the side with lower odds might lose the game against a team that gives higher odds if chosen, and this can put the sports bettor at a loss in case they lose two or more such games.