Do you bet on sports? I never have, but I’ve always wondered…. how much is it skill based versus just gambling? My son provides free sports betting advice as a hobby. He’s done it for a few years now. As a former basketball, baseball and football player… and also as a former basketball coach…. I wondered if he truly has a statistical advantage.
Can someone observe and analyze intelligently enough to consistently come out ahead? My son recently sent me the below. These are the stats for he and his buddy’s last two year’s results.
“Crap! I should have given you my IRA to manage!” I said.
Obviously anything over 50% success and you could make money. Nearing 60%, you could pretty consistently and quickly come out ahead. So last Saturday, I asked him to bet $10 for me. Which he immediately did, over and over. In less than a week I had over $50. I immediately thought… “Wow, if I had given him $10,000 to invest, I could have had $50,000 in less than a week. Or… zero! Hahaha.”
Nope, not stupid enough to “invest” real money… but I’ll let my original $10 ride for a month and see what happens.
And the title photo? That is a screen shot from “electionbettingodds.com“. I have been looking at it almost daily to see how the money is flowing for the Georgia Senate races. Each Republican has been bouncing from a 58% to 70% chance of winning according to gamblers. They also have a Super Bowl odds chart. My Kansas City Chiefs are the favorites to win again. Way ahead of every other team. Yay! But still, their 30%+ chance of winning also means a near 70% chance of not winning.
Fun stuff.