It’s no secret that more and more people who identify as traders are jumping ship and operating more as sports bettors than say CFD, stocks and currency traders, or at the very least they split their attention between trading and sports betting. The reason behind this is that with online sports betting as opposed to online trading, there are fewer variables to have to consider when taking into account the odds of winning and when devising a betting / trading strategy.
I mean for one, just comparing something like what influences the share price of a specific stock with the outcome of a football match or a horse race drives the point home quite clearly, that being that with sports betting you have less of these variables to contend with. Nevertheless, the bigger the jackpot you’ll be wagering for the more variables you’ll inevitably have to contend with, like for example if you’re betting on something like a “Pick6” horse racing event wherein you essentially have to pick the top six horses which will finish first (and their order), there are more variables, more possible combinations and subsequently more permutations.
Bringing into focus one particular popular betting platform, the horse racing enthusiast is spoilt for choice in that they can place many different William Hill horse racing bets online, each of which offers different jackpot payouts which are subsequently tied to different odds (and different variable numbers). Going for a bet that will have you choosing just one outright winner offers fewer variable outcomes than having to select a top six, for example, but that of course also means with fewer variable outcomes comes a lower jackpot than a wager with more variable outcomes.
So the one thing you need to do if you want to develop a winning strategy, in spite of what is clearly a market that has many variables, is you have to build some consistency into the bets you place and into the events you bet on. Choose your poison, so to say and work up resistance to it by being consistent.
So to make an example, if you’re keen on betting on something like the top six, make that your primary focus and focus on developing and implementing a consistent betting strategy.
Take it from someone who has an insider’s view of the inner-workings of the financial industry, which just by the way includes the sports betting and online trading industries – it’s ultimately all about numbers and odds. Bookmakers of all kinds, including banks that loan out money to businesses, sports betting platforms, hedge fund managers and online trading platforms – all of these variations of bookmakers apply the principles of mathematical statistics to come up with betting odds which they then offer to their customers.
Those betting odds never really change and they ensure the house always wins, so to say, however in addition to the house always winning the house also has to pay back a portion of its takings through winnings, which is why jackpots can get so big. If you devise a betting strategy and you stick to it long enough, at some point your “lucky numbers” are going to be the winning numbers, so consistency is the key!