If you’ve ever been tempted with a flutter, you will see knowhow bookmakers and casinos stack the odds. The most evident case is blackjack, in which there are 3 6 black and red amounts plus the green numbers 0 and 0 (at the US) 00. Therefore that has 38 chances altogether. If betting on black or red, the likelihood of choosing correctly is 18/38, and also a fair payout for a $1 dollar stake is 2. However, the home pays just $ two and keeps the difference. In that manner, it guarantees site recommendation.
An identical bias occurred in bookmakers’ odds on horse races, soccer, and every other sporting events. The bookies always ensured that the odds are in their favor.
And that raises a tantalizing possibility.
Today we get an answer thank you to the works of Lisandro Kaunitz at the University of Tokyo & a few pals, who have found a way to make money from the online betting market for soccer consistently.
But their work comes with a serious caveated. Kaunitz and to say that as soon as the bookies became aware of these successes, they prevented the researchers from betting further.
Gamblers have long toyed with a scheme to beats the odds, but success is rare. They typically employ a team of a statistician to studies historical data for a sport like soccer & then developed sophisticated models to determine the appropriate odds for each game.
Kaunitz and to say that as far as they know, nobody has been able to beat this system by developing superior statistical models. It has to do within the way they hedge tha eir bet to protect against the possibility of massive payouts.