Hey guys,
I started gambling on sports again recently after taking a bit of a break in college. Now that I have a full time job, a little more time on my hands and more exposable income to spend, I have been putting more a focus on sports gambling and research. The sports I focus on are MMA/NBA/NFL, but MMA is my most profitable. Here are my profits since I started tracking my bets again since this past October (sorry for the oversized picture), I can provide betting slips for further proof. My current betting units are modest ($35), but will hopefully increase my betting units after getting more of a sample size of my betting results. So far, so good.
My approach to gambling has changed significantly since I dabbled with gambling (and generally lost) in college. Some of my basic gambling tenets are very simple, far from groundbreaking, but ones that I think really hamstring the profitability of gamblers who did not practice with consistency:
A) lean toward betting the underdog and avoid paying the chalk - Most of my bets are on underdogs, as I have gotten in trouble in the past in betting on favorites that I thought were "sure things". The truth is that we often know less about a fighter's true ability than we think, especially for those who rely too much on the eye test and film study to make handicapping decisions. You can really improve your profitability by focusing on betting on underdogs who are undervalued by the MMA betting public that is so often prone to recency bias. Often times there you can find a handful of fights in each UFC card that are much more competitive than the odds/public perception would lead you to believe. Also, I have shown more of a willingness to bet on the "unsexy" veterans, such as Darren Elkins that are aesthetically lacking fighters but who get the job done and are often underestimated (see Machida vs. Anders). Humility in gambling is important.
B) getting the best price industry-wide and historically - By industry-wide I mean the best price as compared to other sports books (5Dimes often times offers the best prices) and by historically I mean the best price within a betting timeline (for example, getting Yoel Romero at +170 today rather than the -190 he opened at). This will save you a TON of expected value over time and, therefore, profitability. Choosing not to make a bet at all if a price isn't quite good enough requires discipline, but is an absolute necessity.
C) SOS matters - Analyzing a fighter's strength of schedule, and overall body of work, rather than his recent wins/losses, fighting style, etc. separates profitable gamblers from mushes. I tend to think that trying to handicap a particularl fight by "breaking down" individual aspects of the matchup (striking, grappling) is often an exercise in futility and will lead you to make inaccurate decisions. The fact is that the eye test and memory is misleading, and what is most important when evaluating a fighter from a handicapping perspective is the degree by which a fighter can consistently compete with other high-level MMA fighters, who each have their own specific styles, strengths and weaknesses. A fighter whose striking looked like garbage in one fight may look elite in an another, with the distinction almost always matchup-based. This is the reason why looking at overall body of work, quality of opponents and the level of competitiveness in those fights is most meaningful. It allows you to cut out some of the other noise and your own errors in judgement.
I will be placing my bets tonight for UFC 221 (it will probably look bad if I flop on the first night but oh well), and hope you follow along in the future.