sports betting

Win/Loss vs Value for Sports Betting Beginners

January 12, 2021

424

Win/Loss vs Value

Have you ever wanted to know more about Win/Loss vs Value records? Today is a historic day that your sports betting game would turn around for good. Okay, so maybe it won’t be that drastic, but for most of you, things are going to take a turn today. We’re going to answer one of the greatest myths in all the soccer betting rampant, from newcomers to people who’ve been in the betting world for quite some time.

How important is this to you? Well, it’s extremely crucial to be upfront. This ambiguity is why most sports bettors will not become high-level professional players or stay winners in the game. The real kicker of it is that some people who’ve been betting sports for ages have no clue about this method.

Let’s say it one more time for emphasis sake. If you don’t fully grasp this idea, you’ll never make money off sports betting in the long run. Final!

Table of content:

Win/Loss vs Value
How to Choose the Right Bet?
Win/Loss Records means more to certain people
Examples
The Power of Value
Cases when the sportsbook was correct
Conclusion of Win/Loss vs Value for Sports Betting

How to Choose the Right Bet?

What we’ll be concerned about today is your sports betting goal. When you choose a bet, what’s the right target to bet on? If you respond that your primary aim is to choose a winner, you’re incorrect. Sorry about the blunt honesty, but the goal of a sports betting choice is not to pick a winner. The goal of choosing a sports bet is to identify and maximize value.

Now, let’s make this simple. Only because you’re not looking to pick the winners doesn’t mean that you’re out there trying to pick the losers. You’re confident you will try to win as many of your sports bets as you can, but that’s not the driving factor behind how you make your choices. Ideally, you’d love to win 100% of your sporting bets. Yet if you treat sports betting by attempting to rope in more victories than losses, you’re going to be a long-term loser.

If you’re frustrated right now, it’s all right because we’re going to devote much time breaking things down today to make sure you completely understand what we mean to explain.

How to Overcome Consecutive Sports Betting Losses?

Win/Loss Records means more to certain people

It’s important to really understand what Win/Loss VS Value for Sports Betting record means to certain people. Have you ever asked your mates if they did a weekend of sports betting or a day of games? If they’re trying to send you a win/loss record and say, “Oh fantastic, I’ve gone 3-2!” They might need to read this article. Here’s the reason.

You could lose money while having a winning streak.
You could still make money while having a losing streak.

Allow the two points to sink in for a moment. Your friend up there, who won three bets and lost just two, could have lost money that day. They’ve got their all-powerful, good win streak, which appears to mean too much to some people, but they may have lost money that day. On the other hand, anyone who goes 2-3 a day may have made a lot of money.

How many bets you’ve won and how many bets you’ve lost isn’t a clear predictor of how satisfying your sports betting is. And the aim of sports betting should be to make money, not just fluff up your ego.

Now, it’s not going to extremes. When anyone claims they’ve won five bets a day and lost none, they’ve had a nice day. If they mean they’ve lost every single bet they made, they’ve lost money that day. But the success of nearly everything in between is indeterminable by the win/loss record. It’s only used because it’s easy as it suits games, the same thing we’re betting on. It also sounds fantastic to those who do not correctly grasp lucrative sports betting, which could be a higher proportion of the population than you first believed.

Examples:

Let’s look at a couple of cases and make sure that everything makes sense to you before moving on to the metrics you should pay attention to. We’ll start by looking at your fictional friend who said they had a wonderful day and went 3-2. Let’s assume they were betting $100 a game on the NFL, too. Here are the five games they bet on:

The Jaguars to beat the Colts moneyline
The Texas to beat the Titans moneyline
The Rams to beat the Cardinals moneyline
The Panther to beat the Saints moneyline
The Bears to beat the Packers -1 (spread bet)

OK, as your friend stated, they did win three of these bets and losing two of them. Here are the results:

WIN – The Jaguars to beat the Colts moneyline
LOSS – Texas to beat the Titans moneyline
WIN – The Rams to beat the Cardinals moneyline
WIN – The Panther to beat the Saints moneyline
LOSS – The Bears to beat the Packers -1 (spread bet)

To your mate, they had a beautiful wee Sunday. So let’s take a closer look at how much money they’ve made. In the table below, we’ll show you the bets, the payoff chances, and what they’ve won or lost on each bet. Then we’ll bring it all together and see how wonderful their Sunday was. We’re choosing to use the “ML” abbreviation for Moneyline.

Winning Strategy: How To Play Safe Single Bets

Note!

Moneyline bet simply means that your team needs to win, and it doesn’t matter by how many points.

You have to note that not all bets are costing the same amount of money. The larger a favorite bet is, the sooner you win. So, if you take a lot of favorites, you’re going to have to win more games than anyone who takes a few underdogs.

This doesn’t mean you’re not going to take favorites or try to push underdog picks. It’s just an anecdote to remind you that aiming for a winning streak isn’t a lucrative technique. People who do this prefer to pick more favorites, so they’re more likely to draw. Yet when you break down the dollars and the cents of it all, you see it’s not that amazing.

We should have added a few more winning bets, and your friend would still have lost his money. If we put two more bets like the Rams ML that your friend won, they will be 5-2 on the day, but still under a dollar. How much of you would believe your mate would have smashed it if they told you that they were 5-2 on the day? I bet there’s a couple of you. Heck, your pal who’s spent money still somehow feels he’s had a fantastic day.

It’s the idea that people are lacking. In the next segment, we’re going to talk about something called meaning. Esteem is what you need to aim for – not just victories. Wins are what you want to do, but they’re not what you’re after.

Wazobet Sports Betting Platform Review | Markets | Payments

The Power of Value

So, if we want to win but are not chasing a win-chase, what should we be seeking? We want to look for “value”. The best way to describe the meaning of a sporting event is by this. This is what makes sports betting valuable. So, when it comes to thanks to a Win/Loss vs Value, here are a few ways to make you understand it better.

Sportsbooks payout according to the odds of the winning bets. The more likely your forecast is to come true, the less you’re going to be paid for it. In our case, he had wagered on Moneyline as a result. If you note, the Eagles franchise won much more than the Jaguars franchise. Why? Sportsbook felt the Jaguars were more likely to win the tie. Because of these incentives, your friend was very happy.

It is so important to differentiate between favorites and underdogs as well. The more likely that is to happen, the less you will be getting a payout for a win. This means that the less likely your bet is to succeed, the more you will be paying out.

The sportsbook tries to get the payout as close as possible to the likelihood of the outcome. Occasionally, they are mistaken, or reward chances change. Find what is valuable and you have found worth.

Also see – Bankroll Manager: Value strategy (probabilities) and Kelly’s bet

Cases when the sportsbook was correct:

We’re going to pretend that we’ll make the same bet a single time ten times in a row. You can also make false bets that win money. It’s a perfect way to raise awareness. Our generalization also applies in the real world.

The bookmaker’s odds can be translated into a measure of your probability of winning. Whether we got into the conversions and inferred odds, we discuss them in the value section. Now you should be conscious the payoff odds are simply fixed bets.

What is going to happen if the sportsbook was mistaken or the line has passed out of chance? Know, value is whether you are earning more than you are worth. We said it to stop you from pulling this stunt.

You will capitalize on the favorite bets as well as on the underdog bets. No special emphasis should be put on underdog bets. Just because they pay you more than you are worth does not mean they have value.

The only way value is observed is when the probabilities are good and the chances are in your favor. I feel like you’re still curious about how you find out the fate of a particular bet. This is where excelling in sports betting comes in. You’re going to have to make a guess and hope you’re right.