This was a reply that I sent to a private PM. I think it's worth repeating here:
On the average bet, you're expected to lose 5% of the money you bet. That's how the book makes money. That means that you have to have an advantage over that margin in order to squeeze out a positive EV profit.
So you have to hit 52.5% of your bets at even odds just to make money. Sounds easy. It's not.
British sportsbooks have become sophisticated to the point that if you make over $20k, they start...
Read more
On the average bet, you're expected to lose 5% of the money you bet. That's how the book makes money. That means that you have to have an advantage over that margin in order to squeeze out a positive EV profit.
So you have to hit 52.5% of your bets at even odds just to make money. Sounds easy. It's not.
British sportsbooks have become sophisticated to the point that if you make over $20k, they start...
Read more
from PSA: Don't pursue sports betting as a means of generating income
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