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The Probabilities of Basic Sports Wagering

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The Probabilities of Basic Sports Wagering

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  1. Please come and make a bet on the game listed above. Whether you have any sports betting experience or not, just try to make one bet. It’s all for fun, so give it a shot!

  2. The Probabilities of Basic Sports Wagering Ronald W. Yates Patrick L. Villa College of Southern Nevada

  3. 52.380952381 % What is a Square?

  4. Scoreboard Update

  5. Scoreboard Update

  6. Scoreboard Update

  7. Money Line Bets

  8. Scoreboard Update

  9. Scoreboard Update

  10. Scoreboard Update

  11. Scoreboard Update

  12. Boxing

  13. Scoreboard Update

  14. Parlay Bets

  15. Scoreboard Update

  16. Expected Values of Parlay Bets With n bets in a parlay, the probability of winning is (1/2)n, and the table is based upon a standard $10 wager.

  17. Scoreboard Update

  18. Scoreboard Update

  19. Payouts for Money Line Parlays (Lines are something other than -110) The money line of each proposition is substituted into [(win amount/ bet amount) + 1], and the resulting terms are then multiplied together. Example: a 3-team parlay of the following propositions.

  20. Scoreboard Update

  21. Parlay Cards

  22. The Language of Sports Betting

  23. Scoreboard Update

  24. Post Time Expected Value of a Straight Bet: (1/2)(+$10) + (1/2)(-$11) = - $0.50 In order to break even, must win 11 out of every 21 bets (11/21)(+$10) + (10/21)(-$11) = $ 0 Winning 11 out of every 21 bets = 52.38… % Makes winning sound easy… doesn’t it?

  25. Experimental Probability15 Picks per week over the course of 7 Seasons

  26. Experimental Probability15 Picks per week over the course of 7 Seasons

  27. Round Robin Parlays Let's say you have 4 bets that you like, call them A, B, C, and D, and you want to bet every possible parlay with these 4 bets. Using combinations, we can find that this includes a total of 11 bets:

  28. Betting Parlays Let's say you do extremely well, and pick the winner in 4 out of 7 games (which is a 57% success rate). We will call the bets A, B, C, D, 1, 2, and 3, with the letters being winners and the numbers being losers. Using a $10 wager:

  29. Scoreboard Update

  30. Scoreboard Update

  31. Scoreboard Update

  32. Scoreboard Update

  33. Scoreboard Update

  34. Scoreboard Update

  35. Scoreboard Update

  36. Scoreboard Update

  37. Scoreboard Update

  38. Scoreboard Update

  39. Scoreboard Update

  40. Scoreboard Update

  41. Scoreboard Update