How do we use math and data to make money betting on sports?
The way we make money betting on sports isnt rocket science, its strictly using a proven strategy focused on using math and data known as Positive Expected Value Betting (✚ EV Betting)
+EV (Positive Expected Value) betting is a fundamental concept in sports betting that involves making wagers with a higher expected return than the risk you take.
In simple terms, it's a strategy that focuses on identifying bets where the potential reward outweighs the risk, leading to long-term profitability. In the context of +EV betting, "value" refers to the advantageous odds or lines offered by the sportsbook that increase the likelihood of a positive outcome.
Its common knowledge that the implied probability of a coin landing on either heads or tails is 50/50. Now what if I told you that it would be possible to bet on heads at +110 odds & tails at -110 odds. Well, in this scenario, you would want to bet heads as many times as you want. Why? Because you're betting on something to happen that has an implied (true) win rate of 50% (+100 odds) at +100 odds You're getting extra value on ever single bet you place.
Now just because something is +EV does not meant that it will win every time. You could bet on heads at +110 and it lands on tails 8 out of 10 times, and you would be at a loss. Or you could flip a coin, chose heads, and have it land on heads 8 out of 10 times and be in serious profit. But, if you we're to flip that coin, 500, 1000, 10000 times, it would average out and remove something called variance.
That is why +EV is not known as a "get rich quick" scheme, but rather a way to profit over the long term period.