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Fixed Odds Sports Betting

Statistical Forecasting and Risk Management

Fixed Odds Sports Betting
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US$ 19.99 (+ tax)
Few people manage to make money from gambling; fewer still make a living from it. Written for hardened and novice sports bettors alike, Joseph Buchdahl's Fixed Odds Sports Betting examines, through various numerical techniques, how fixed odds punters may learn to beat the bookmaker, protect profits through a sensible approach to risk management, and turn high-risk gambling into a form of low-risk investment. Fixed Odds Sports Betting investigates: ·Markets in fixed odds sports betting ·The bookmaker's overround ·Value betting ·Ratings systems for sports prediction ·Profitability and risk ·Singles versus accumulators ·Staking plans and money management ·The favourite-longshot bias ·Sports advisory services ·Betting records and their significance testing Marketing Points: ·Adopts a numerical approach to fixed odds sports betting ·Provides an in-depth examination of betting risk and money management ·Utilises extensive data analyses and staking plan computer simulations ·Invaluable reading for statistically-literate sports bettors ·Many useful ideas for the more casual punter ·Exposes some of the long-standing myths surrounding fixed odds betting
High Stakes Publishing; December 2009
224 pages; ISBN 9781848396661
Read online, or download in secure PDF format
Excerpt
What Is Investment? One of the tenets of capitalist economics is the principle of investment, the idea of committing capital to make a profit. Traditional sources of investment have included banks and building societies, stock markets and property. Profits from these types of investment may come in two forms, to a greater or lesser extent, depending on the nature of the investment. These are capital growth and income. Capital growth occurs when the investment increases in value. One typical measure of capital growth is the price of a share on a stock market. An investor may buy some shares at £5 each. After a year, if they are worth £10, the investor has doubled his capital. In contrast, if the price falls to £2.50, the value of the capital has halved. Another measure is the price of a house, which, like shares on a stock market, can go up and down. How the value of an investment will change over time will depend upon a whole host of influencing factors that operate within any particular investment market. Naturally, any investor wants to avoid markets that are falling, and concentrate on investments that will return profits. Clearly, not every investment will be a successful one. A successful investor is one who can identify more winners than losers through an assessment of profitability and analysis of risk. Certain capital investments also return what is termed an income. A let property, for example, returns an income through rental receipts. The size of the income is normally quoted as a percentage of the initial capital investment. If a landlord buys a house for £50,000 and generates £5,000 each year from rents, the income yield is said to be 10%. Many shares on a stock market pay an income in the form of a dividend. Again, the size of dividend may be quoted as a percentage of the value of each share. Perhaps the most common investment income is that achieved through a bank or building society savings account, the size of which will be determined by the interest rate. A savings account holder, of course, may choose to reinvest any income earned by the capital by leaving it where it is. Such income compounded over time will allow the initial capital to grow. One might ask at this point, what has all this got to do with sports betting? After all, isn't sports betting just a form of gambling, and what has gambling got to do with investing? The answer to these questions will depend to a large extent on the aims and interests of the sports bettor. Whether he considers his sports betting to be gambling or investing will be governed by his approach to sports prediction and money management, the level of professionalism attributed to both, and even by his view of what it actually means to gamble or invest.