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Mathematics serves as a tool for bettors trying to crack the code of the different probabilities of every game. While that might sound intimidating to some, it’s actually pretty basic. All you need is knowledge of probability and risk calculation to be able to come up with mathematical betting strategies.
Using math to beat casino systems may work anywhere, but it’s way easier to do online. Since digital casino games have a less pressurized environment, you can work out the probability effortlessly. Risk calculation is applicable for any casino game, but it works better for certain games like blackjack.
Are Mathematicians Good at Gambling?
Since the first-ever casino, players have been looking for mathematical betting strategies to win big. It may be a combination of tips and skills or even a scheme. These tactics may or may not work, depending on the game type.
Good bankroll management is one of the keys to becoming a successful gambler. To do that, you need to have decent number skills. But aside from that, you need to have keen attention to detail and be incredibly observant. These are skills you may develop when solving math problems.
Mathematics is significant in gambling. You can utilize it to make wiser and more lucrative wagers. That’s why when it comes to gambling, mathematicians can use their skills to their advantage. But even without a mathematics degree, you can still learn mathematical betting strategies. More details are available below.
What Type of Math Is Used in Gambling?
Casino games have three underlying principles: expected value, volatility index, and definite probabilities. When you understand these ideas, you’ll know the ins and outs of every game and likely win. These concepts should guide your mathematical betting strategies.
Statistics is the most common math present in gambling. One concept you have to understand is probability. This model begins with an experiment and a corresponding mathematical structure, precisely the field of events. In gambling, “events” have different categories, and each is textually pre-definable.
For a specific casino game, events can have a connection to your or your opponent’s play, short- and long-shot events, or connected to one or several person/s plays. Depending on which game you’re playing, you can divide each category into various subcategories. Such events are literally definable but do so with much caution when creating a probability problem.
From a mathematical viewpoint, events are essentially subsets, and the events space is a Boolean algebra. These events include independent/non-independent, elementary/compound events, and exclusive/nonexclusive events.
Best Mathematical Betting Strategies
Much is said about sports betting, but you can hardly find helpful tools. Whether it’s betting on basketball, chess, or football, sports bettors tend to ignore the math. Since mathematics and sports betting are in a close relationship with each other, mathematical betting strategies are the smartest ways to up your winning chances. That said, here are the most common mathematical betting strategies that prove effective and result-oriented.
One of the safer mathematical betting strategies you can employ is arbitrage betting. This type of tactic involves wagering on every possible result of one event. In soccer, for example, you could wager on a win, loss, and draw. Since you would be covering all potential outcomes, this ensures that you’ll win on one of your wagers.
However, it’s worth noting that arbitrage betting is only lucrative when several bookies have varying odds for a single event. You can maximize these odds by wagering on the most lucrative one and generating profit regardless of the result. Arbitrage bet finders help find these difficult-to-find wagers. They scan the odds across events, bookies, and sports leagues to alert you of any arbitrage betting opportunity.
But as with other mathematical betting strategies, arbitrage betting isn’t risk-free. Betting rules differ from one bookie to another, and the odds of a particular match can go from winning to losing one as you place your wagers.
As with arbitrage, value betting involves maximizing disparities in bookmaker odds. Most of the time, when sportsbooks offer significantly different odds, one of them is correct while the other is way off. Instead of wagering with both bookies to cover every outcome, you can go with the one with overpriced odds. That way, you can capture that value sans shedding any vigorish to the bookie with the correct odds.
Although value betting is more volatile than arbitrage betting, it’s more profitable. In the long run, you can earn more by not paying vigorish to one of the bookies. But since you’re not considering all possible results, there’s no assurance that you’ll profit on every game.
Another one of the best mathematical betting strategies is matched betting. Here, you’ll place wagers with at least two bookies at the same sporting event. While it also sounds like arbitrage betting, it differs because you’re using the free wager offerings to drive your earnings higher than arbitrage.
Matched betting is a hedging tactic. You’re only spending to bet on two possible results while using a free bet from the other bookie to shield yourself from losing. Like most mathematical betting strategies, it needs plenty of time and effort to be worthwhile. But the good news is that it can give you a high return on investment.
When using the Paroli strategy, you raise your stake according to profits. Therefore, your stake X will grow as you hit wagers. Upon reaching a particular number of hits, you keep the profits and begin again. But if it fails at any point in the progression, you return the stake and start over.
The Paroli system is one of the better mathematical betting strategies because it doesn’t involve chasing your losses by continuously increasing stakes. Mathematically speaking, the expected value is akin to betting flat stakes the entire time. Since odds rarely favor you, you’re going to lose money over time.
Martingale Betting System
Up next in this mathematical betting strategies list is the Martingale betting system. Here, sports bettors double the stake after every loss, hoping that it will eventually aid in recovering their losses. Theoretically, it sounds like a good idea. But in reality, it’s a dangerous move.
Of all the mathematical betting strategies, Martingale is the most commonly used on online gambling websites. More often than not, players who keep playing on this tactic end up going home because there’s nothing left to lose. It only increases the likelihood of you suffering even more losses. Despite its popularity with newbie sports bettors, it’s not advisable to use this strategy.
Fibonacci Betting System
Introduced by mathematician Edward O. Thorp in 1961, the Fibonacci betting system is a more complicated variant of the Martingale. As with Martingale, it involves chasing your losses by increasing your stakes every time you lose and decreasing them after a win. But instead of doubling your stakes, you raise them accordingly with the Fibonacci sequence.
What’s risky about both Martingale and Fibonacci mathematical betting strategies is that they can burn your bankroll. You might find yourself in a situation where you can no longer afford to wager a high enough stake to recover your losses. That means risking more funds than you’d have otherwise.
Final Thoughts on Mathematical Betting Strategies
When it comes to sports betting, placing wagers on a team you think will win or score a lot isn’t always a good idea. It’s anybody’s ballgame, and sometimes underdog betting is the best way to go. Treat mathematics as your best friend here. Once you learn how to use it to your advantage, you’ll do better than others who don’t.