Re:The rising human cost of sports betting
by gostsamo on Tuesday February 01, 2022 @12:53AM
(#30159074)
No, you don't do it on random. Let's say you are looking at basketball game X vs. Y.
Bookmaker A is giving odds X win 2.5 and Y win 1.33
Bookmaker B is giving odds X win 1.55 and Y win 2.10
What you do is bet on X in A and on Y in B. Let's say that you invest $2000 ($1000 in each bookie). If X wins, you loose $1000 on Y, but you win $2500 from X. Total profit = $500. If Y wins, you loose $1000 on X, but you win $2100 on Y with net profit of $100.
Bookmaker A is giving odds X win 2.5 and Y win 1.33
Bookmaker B is giving odds X win 1.55 and Y win 2.10
What you do is bet on X in A and on Y in B. Let's say that you invest $2000 ($1000 in each bookie). If X wins, you loose $1000 on Y, but you win $2500 from X. Total profit = $500. If Y wins, you loose $1000 on X, but you win $2100 on Y with net profit of $100.