The concept that “the house always wins” is considered outdated and is more associated with land-based casinos, where games are designed to favor the house in the long run. Roulette and slot machines, for example, are based purely on luck and mathematical probabilities that tend to favor settlement.
According to Ricardo Santos, data scientist specializing in statistical analysis for football sports betting and founder of Fulltrader Sports, a leading Latin American company in SaaS software for the sports trading end audience, betting on sporting events is a unique field, where results are not in the hands of the houses. “The outcome is determined by the actual performance of teams or athletes in a sporting event. Betting sites act as intermediaries, facilitating operations for anyone,” he reveals.
The expert points out that bookmakers have a margin built into the odds they offer. “By adjusting odds to reflect public perceptions of a particular sporting event, bookmakers ensure that, on average, they make a profit, regardless of the outcome. However, establishments have no control over what happens at games and, therefore, the success or failure of an event is not directly related to the victory or defeat of their customers,” he points out.
Unlike casino games, sports betting involves skill and strategy, where bettors can analyze statistics, player injuries, weather conditions and many other factors to make informed decisions when placing a bet. “Those who invest time and effort in research and analysis have the opportunity to exceed expectations and achieve extraordinary results,” declares the analyst.
It is important to understand, however, that although it is possible to be successful in sports betting, there are no guarantees of profit. “Proper management, understanding and moderation of probabilities are essential to minimize risks. With the right approach, it is possible to have an exciting and profitable participation in the world of traditional and electronic sports,” he concludes.
Ricardo Santos
Data scientist specializing in statistical analysis for football sports betting and founder of Fulltrader Sports, a leading Latin American company in SaaS software for the sports trading end audience. He has also been a football odds trader for 12 years.
Source: Jbrito
