The Role of Luck in Betting

You can often hear the expression “lucky man”. It’s used for people who have received any material or spiritual wealth only by a happy coincidence. In betting, luck is introduced almost to the credit of a bettor, but does it exist in this field of activity, if it’s about a large segment of a game?

Let’s take a typical example: two players made 10 predictions for markets with odds from 1.50 to 1.80. The first player’s predictions were 10 of the 10 winning, whereas all 10 forecasts of the second bettor were unsuccessful. In the eyes of the other players the first bettor is almost a professional, while the second proved professional incompetence. And all of this despite the fact that such a short period of the game says completely nothing. Skill bettor can only be determined after hundreds forecasts.

You can flip a coin 10 times and 10 times in a row eagle will drop, then 10 times in a row tails can drop. It won’t mean that you are lucky or unlucky player, just now the theory of probability has given this result, but after 10,000 flips you, like the others, will be approximately equal to the number of dropped heads and tails.

It’s understood that success in bets – is a concept that describes the only short-term success of the bettor. After 1000 bets won’t remain successful and unsuccessful bettors will only players who can beat the bookmaker’s margin, and those players who cannot do this.

The entire game every bettor is made up of good and bad stretches. On long-distance two players without a proper strategy and approach to the analysis show similar results and success here will not help anyone.

In this regard, it is revealing a story that happened last year in England. A player from Sutton put multiple bets by combining it three bets on the correct score. Everything could be good, but the bettor in each of the embodiments indicated by 7:0. It is not surprising that the overall bet odds were 276 000. In general, a player won about 80 thousand dollars. Such stories only increase the confidence of the players that luck is very much depends in the bets. At the same time the owner of the bookmaker BetFred, where the bet has been made, said that since the founding of the office anything like this has not happened. If we consider that the firm was founded in 1967 and this year celebrates the fiftieth anniversary, there is nothing surprising in such episodic wins its customers.

Hope to get lucky in betting is equivalent to hope to win an apartment when buying a lottery ticket. The small probability of such an outcome exists, but it is so insignificant that it should not be taken into account. Rely in capitalizing on its knowledge and experience, rather than to chance.