A common question about sports betting is, "Can I make money betting on sports?" The answer is simple: no. Some bettors get lucky in the short term, but over a long series of bets, the gambler will almost always lose money. The reason is the 11/10 vig, a built-in advantage that guarantees the bookie will make money. Every time you bet on a point spread game, you must bet $11 for every $10 in potential winnings. If you bet $110 and win, you win $100. On average, you have to win 52.38 percent of the time just to break even The famous gambler Lem Banker once referred to this as "the implacable reality of 11-to-10" It's difficult to win 52.38 percent of the time. If you bet steadily for several years, all you're likely to accomplish is sending your bookie's kids to college. And by the way experts approximate it at a 200 billion dollar industry.
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LOL!!! Not only college. You buy the sportsbook owners mansions, parties, boats, planes and much much more!!! LOL!!! Don't forget the porsches and cadillacs... Costa Rican private university live thanks to sportsbook clercks that make more money than most doctors in the country and can afford education. Plus many young families live thanks to sportsbooks.Originally posted by JessicaCutie82Last edited by jay88; 11-17-05, 07:08 PM.Comment -
You cant make money if you just place some bets of course, but there are a few options that allow you to make some decent cash in this industry.
Btw...wrong thread?
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Hey Jessica, please leave this to one thread. No need to post it in multiple threads. Thanks.Originally posted by JessicaCutie82Comment -
Jessica you are very annoying and I really don't want to argue with you here b/c there is some truth to that...but a couple of critiques that should debunk your favorite passage:
1) You are talking about the aggregate. We are all individuals who make bets so it's possible that some individuals have success. To suggest that nobody wins long term is outlandish as I am sure quite a few on here would agree that the sportsbook do end up paying people regularly. Of course as long as the majority loses, sportsbooks and Vegas will be just fine.
2) The 52.38% figure is a bit outdated. Now a days there are several books that have reduced juice daily and nearly every book offers specials such as -105 fridays or a specific game with no juice. This is to the players advantage. In fact, if you hit 52.38% of your games you may now be able to report a profit.
3) That paragraph that you have been flaunting in every thread is much too simplistic. It doesn't address issues like money managment, line value, selectivity of games, etc...Much too general to have any merit on a forum with the quality of posters on here.
4) You write or someone writes "The reason is the 11/10 vig, a built-in advantage that guarantees the bookie will make money." This is true but you have to satisfy a key assumpition here that there is even action. If I am a bookie and I have two clients and one is on Team A (-110) and the other on Team B (-110) I stand to make a $10 profit regardless...however if both clients are on the same team then their is a risk involved...even pubic money is rarely the case so Jessica you are speaking of a reality that doesn't exist. Books take precautions by shading lines, posting lines late to see what other books are doing, and cutting limits.Comment -
Jessica is a poor girls version of JJ and a real poor version at that. 98% lose but there are some that win.Comment -
it's also important to note that many people gamble for fun...and if money is made in the process, then great...Comment -
Also, some of the pro bettors are all about math. They use loads of statistics and every possible information they can get and make their own mathematical estimations and only bet when they think a bookie(s) has estimated the probablity of the outcome wrong. This is usually dogs with strict money management big volume of plays and huge balances. They can make their living out of it.
Most of us normal people don't have access to all the sophisticated programs some of these guys program/use themselves and are not so mathematically talented or disciplined with this kind approach.Comment -
I believe that is taken from an article written by someone at another site, which I think was EOG. "Jessica" should cite the source of those comments.Comment -
Its impossible to make perfect line that will allow bookie always win.Comment -
as much as i enjoyed reading the article by this "jessica" fellow for the 5th time, we should all praise "her" for "her" ability to cut&paste and convince "her" to move on. maybe to the private forum with some polaroids?Comment -
doncal, i've noticed it 3 times, when you include this one.Comment -
my bad, bigboydan. guess it just seemed like 5?Comment -
it could be 5. i've personaly noticed 3 times though.Originally posted by doncalComment -
"she's" definitely trying to make a point...Comment -
Jessica, you don't think we can hit 52.4%? Sounds like you want some part of raiders 57% challenge. Put up or shut up.Comment -
I think Jessica took a vacation.Comment
