Do stats actually help, or can they also mislead bettors?

[junder]

This type of sports betting is a game whose chances of winning can be increased by available means such as one of them is by utilizing existing information before betting such as statistics. I think these statistics can help us, but it only helps in the concept of determining the bet to be placed (as a consideration), and can increase the chances of winning as well but in the end the victory is determined by luck.

[maydna]

You need luck to win but you could still analyze and hope you can win someday. You don't have to feels sad if you are not yet to win because your turn will comes soon and gives the win. Research is the way you should do so yes, statistics gives you more information about the games.

That is just a number and the game can changes in the field so anything can happens and if you say your prediction could gives the win, that doesn't mean you will wins. Many times we see the situation change and makes us lost.

[Bigjoe33]

For me, it's. Yes and No answer..

Yes because to an extent, the research and statistics you check helps to direct you when making selection, especially when you check there recent performance and goal scoring ratio for people who play goal options mostly. So, with recent performance of the team seen from the stats, you can make a better option when gambling or betting.

It is a No because many times, football doesn't work according to stats or present performance of teams. That why so many times, we have seen little odds win a big odd in games, and those who chooses little odds begin to blame themselves why they choose the little odd.

So, for me, betting is a game of luck, and nothing more. If you select and win, it's your luck, and vise versa.

[ralle14]

It can go both ways, but I still use them more often than not because that's what the odds makers also rely on whenever they make adjustments. There will be matches when stats are suddenly thrown out of the window, but those scenarios don't happen a lot of the time, and if a certain team keeps misleading you, then maybe it's time to put them on your blacklist. Some of the top teams will always overperform, and regression is bound to happen at a later point. This is why slowing down helps once you're in that phase, or at least avoiding trap odds that appear too good to be true.

[DrBeer]

I do sports betting myself, and I do spend time analyzing before I place a bet, and actually I even check different sources just to compare stats and make sure I am not missing anything. But even with all that effort, I still cannot say I am profitable. So now I am starting to question it. Am I just analyzing the wrong way or is it really that hard to win consistently even if you study the numbers? sometimes it feels like the more stats you look at, the more confused you get and in the end the result still goes against you.

That is why I am wondering if stats really help bettors, or if they also mislead us and just make us feel more confident than we should be. At some point, is it better to keep trusting analysis, or just slow down and bet with simpler judgment instead of overthinking everything?

Statistics and analysis are a wonderful and sound idea. If we’re talking about events that follow certain patterns, laws, or "mathematical formulas"

But sometimes a process that is entirely statistically predictable can go wrong due to completely unpredictable factors. A good example is in the neighboring thread:
https://bitcointalk.org/index.php?topic=5584294.0 
Statistically, the result should have been different-100% different! But...

[Satofan44]

But you have a point, the more statistics the more confused about which odds to choose because in sports betting there are many variations, for me I will not mention that statistics can be misleading because the data is valid, we just have strong instincts where to bet.

Statistics can not be misleading by themselves, it is not possible and to claim otherwise would be a lie. The only thing that can be misleading is a false interpretation of statistics, and that is entirely the fault of the human and nobody else. Anyhow, statistics do not tell you what exactly will happen but what is probably going to happen and this is where people who haven't studied math fail. They claim that statistics do not work because they are not educated enough to understand what they are about. Most people will nod their head in agreement when you mention statistics because it is a popular word, they have heard it being used many times so they pretend that they understand how it works -- but really they don't. Same with many other concepts being talked about in this or other sections.

I'll take a guess that out of 100% of the sports bettors, it might even be that 90% are losers including me too.

That is how the business works, if many were winners there would not be a place where bets could be made.

And they're no longer be the gambling business but charity.

Exactly.

It is a No because many times, football doesn't work according to stats or present performance of teams. That why so many times, we have seen little odds win a big odd in games, and those who chooses little odds begin to blame themselves why they choose the little odd.

This is false. Statistics always works, it is an objective rule of the universe. Just because you do not understand the interpretation of it and its application that does not mean it does not work "sometimes". If something happens that according to statistics is probably not going to happen, that is an example of statistics working as intended. Learn the difference and stop spreading misinformation, just because things happen that your stats are not expecting that does not mean that it "doesn't work".

So, for me, betting is a game of luck, and nothing more. If you select and win, it's your luck, and vise versa.

There is no such thing.

[LUCKMCFLY]

Taking on start can be helpful and at the same time misleading if you are not being careful, that we follow the track on their previous statistics does not mean that we should go by that to conclude on what they may deliver except we also take time to check in within their recent formation and performance, this can go a long way with how we can place our bet upon anything we are considering as we place our bet.

The use of mathematics, statistics, and probabilities can bring us closer to a forecast that may give us an approximation of reality, but statistics do not cover many scopes; for example, an extraordinary event can change the course of the sport, and a team that is sure to win may lose, while the corresponding human analysis, for me, is superior and has great importance.

[MainIbem]

This type of sports betting is a game whose chances of winning can be increased by available means such as one of them is by utilizing existing information before betting such as statistics. I think these statistics can help us, but it only helps in the concept of determining the bet to be placed (as a consideration), and can increase the chances of winning as well but in the end the victory is determined by luck
.

It can help bettors know the strength of teams, their strategies and possibilities of winning but it doesn't give assurance that bettors who do it would win their bet, if it guarantees successful predictions then lots of bettors won't be losing more, the house would still be at advantage over bettors due to luck. Sometimes a bettor might even pick the right option based on their analysis but end up losing due to certain circumstances. In other words, bettors would still need luck asides analysing stats.

[Shadiq]

Statistics cannot help you win consistently, there is no strategy in gambling that can help you win consistently in gambling. Statistical analysis increases your chances of winning in gambling, it cannot guarantee victory. There are some matches where statistics are completely irrelevant, such as when two teams in the best form play, or when two teams of the same level play, or when two teams of the same level play on a neutral field.

In these matches, luck is more helpful than statistics. To increase your chances of winning in gambling, you need to know the updated statistics about the teams and know in which matches statistical analysis will play an important role. Statistics cannot play the same role in all matches.

[Ever-young]

It can help bettors know the strength of teams, their strategies and possibilities of winning but it doesn't give assurance that bettors who do it would win their bet, if it guarantees successful predictions then lots of bettors won't be losing more, the house would still be at advantage over bettors due to luck. Sometimes a bettor might even pick the right option based on their analysis but end up losing due to certain circumstances. In other words, bettors would still need luck asides analysing stats.

Exactly. There’s only so much that analysis can do for us as gamblers, and depending too much on gambling can have disastrous outcomes on the gambler. While it’s true that analysis can improve the gambler’s chances of winning, it doesn’t in anyways determine when or when not a gambler gets lucky, and since winning gambling is about luck, analysis doesn’t guarantee wins.

[retreat]

But even with all that effort, I still cannot say I am profitable. So now I am starting to question it. Am I just analyzing the wrong way or is it really that hard to win consistently even if you study the numbers? sometimes it feels like the more stats you look at, the more confused you get and in the end the result still goes against you.
-snip-

In sports betting, there are many possible outcomes, making it often difficult to predict precisely. Numerous factors can influence the outcome of a match, even if a team that appears statistically stronger is held to a draw or defeated by a weaker team. So, even if you analyze it carefully and seem confident of winning, there's still a chance that the team could lose, even if it's only a few percent. Therefore, it's quite difficult to win consistently in sports betting, as sports betting often presents unpredictable outcomes.

[Wakate]

But even with all that effort, I still cannot say I am profitable. So now I am starting to question it. Am I just analyzing the wrong way or is it really that hard to win consistently even if you study the numbers? sometimes it feels like the more stats you look at, the more confused you get and in the end the result still goes against you.
-snip-

In sports betting, there are many possible outcomes, making it often difficult to predict precisely. Numerous factors can influence the outcome of a match, even if a team that appears statistically stronger is held to a draw or defeated by a weaker team. So, even if you analyze it carefully and seem confident of winning, there's still a chance that the team could lose, even if it's only a few percent. Therefore, it's quite difficult to win consistently in sports betting, as sports betting often presents unpredictable outcomes.

Especially in sport betting, some many possible outcomes we can see from a single match and that is why we have plenty options that can be use to gamble. The options ranges from goal kicks, corner, number of goals, winning, draw, red card, yellow card, handicap etc which has been making it hard for most gamblers to be profitable from their bets.

[Bright0515]

Stats can actually be of help to bettors but a lot of people need to realize that stats doesn't really guarantee profits it just increases the chances of winning the bets that you place. Even after doing research and analysis the outcome might not be in favor of the gambler or bettor. I think that this can only mislead bettors when they rely too much on it. it is not advisable as a gambler to rely too much on stats because anything can still go wrong. No one has control over the outcome of the game or can always predict sports game accurately.

[Jaycoinz]

Stats can actually be of help to bettors but a lot of people need to realize that stats doesn't really guarantee profits it just increases the chances of winning the bets that you place. Even after doing research and analysis the outcome might not be in favor of the gambler or bettor. I think that this can only mislead bettors when they rely too much on it. it is not advisable as a gambler to rely too much on stats because anything can still go wrong. No one has control over the outcome of the game or can always predict sports game accurately.

Stats is only valid with sport betting and even at that there is still no certainty to the level at which you can get winnings from it and that's why we say luck is the important feature when we talk about gambling and it's even more when we try to relate it to casino games and alot games, the only way you can edge yourself in slot games is actually how to control your balance so you don't do crazy shit when betting on casino games.

[serjent05]

In the end, it is the variable factor that can affect the result of the game.  No matter what the data or information is, or how well one can read it, if the variable factor acts against these statistics, the statistics are rendered useless.

This is also the reason why we see upset or unexpected results in sports.  The stats can tell us which team has a higher chance of winning, but the variable factor is the one dictating the outcome, though most of the time the variable factor goes with the statistics.

[Joeboy]

~snip..

The use of mathematics, statistics, and probabilities can bring us closer to a forecast that may give us an approximation of reality, but statistics do not cover many scopes; for example, an extraordinary event can change the course of the sport, and a team that is sure to win may lose, while the corresponding human analysis, for me, is superior and has great importance.

Sports is just too unpredictable, regardless of how good and supposedly accurate our prediction and analysis is.. At time in a match injuries could happen or say red card, poor officiating from the ref and whatnot... All this factors can completely change the entire outcome of a match regardless of how good a gamblers prediction was at kick-off... Due to this factors, you may then think that human analysis is then the better alternative, but then again human analysis also has it own flaws, and that's seen in cases where favouritism for a club or personal bias come to affect our judgement...

[Dr.Bitcoin_Strange]

Basic stats or analysis kinda already priced in, which sometimes makes it feel useless sometimes, but the truth is that, when the analysis becomes deeper, with some touch of discipline, it becomes capable of revealing some slight loops and inefficiencies in the odds, this helps to come up with a more accurate and realistic prediction. So the analysis are not completely useless after all.

You are right mate, if someone would agree that Stats doesn't actually help in betting, then what methods do they use to predict the outcome of a game they are betting on, because if one doesn't use stats to check for possible future outcome of a game, then they would just be guessing the outcome of the games and could end up losing more than someone who used stats to predict the games outcome. Stats might not guarantee winning but it can help at times.

[|MINER|]

I do sports betting myself, and I do spend time analyzing before I place a bet, and actually I even check different sources just to compare stats and make sure I am not missing anything. But even with all that effort, I still cannot say I am profitable. So now I am starting to question it. Am I just analyzing the wrong way or is it really that hard to win consistently even if you study the numbers? sometimes it feels like the more stats you look at, the more confused you get and in the end the result still goes against you.

That is why I am wondering if stats really help bettors, or if they also mislead us and just make us feel more confident than we should be. At some point, is it better to keep trusting analysis, or just slow down and bet with simpler judgment instead of overthinking everything?

In fact, we have to remember this above all else that all gambling results depend on luck, so no matter how good we analyze, we have to remember that none of our predictions can bring us victory with a 100% guarantee.
So I will say here that yes, stats certainly help us achieve victory, but at the same time, they often mislead some people due to their overconfidence and greed. So we always have to be careful that even after getting the stats, the amount of our bet does not go beyond our ability to lose.

[Ever-young]

Stats is only valid with sport betting and even at that there is still no certainty to the level at which you can get winnings from it and that's why we say luck is the important feature when we talk about gambling and it's even more when we try to relate it to casino games and alot games, the only way you can edge yourself in slot games is actually how to control your balance so you don't do crazy shit when betting on casino games.

This is true, but to an extent though. With stats and good analysis, decision making can potentially improve, when dealing with sports betting, but this doesn’t in any way take uncertainty completely away from the equation. And when we bring it down to casino games, luck is proven to play a much larger role since most of the casino games  actually require little to no skills or analysis and more of luck and chance.

[CryptoHeadlineNews]

So now I am starting to question it. Am I just analyzing the wrong way or is it really that hard to win consistently even if you study the numbers? sometimes it feels like the more stats you look at, the more confused you get and in the end the result still goes against you.

If statistics were to work 100% all the times, then it means all the casinos would have gone bankrupt by now. But due to the fact how Sport game predictions remains unpredictable, is the major reason why gambling still remains one of the most lucrative businesses right now. Because at this point, you really don't have to be confused that stats no longer portray the likelihood of the outcome of a Sport event. So as a gambler, it's always certain that whenever you are placing a bet to always have an open mind to expect either a win or a loss. While also gambling with an amount you can always afford to lose. Because judging by the fact how Sport games seems to be competitive each season, you should never underestimate even the smallest underdog team.