Sports Betting: Understanding the Concept of Variance at LinesMaker

Sports Betting: Understanding the Concept of Variance

Who doesn’t want to win at sports bet­ting? How­ever, every­one knows that there is lot of vari­ance involved with bet­ting on sports. In sim­ple words, vari­ance is the eval­u­a­tion of how far a spe­cific set of num­bers are spread out from each other. In case the num­bers are spread in a tight man­ner, then it is referred as low vari­ance. On the other hand, if the num­bers are spread wide apart then it is con­sid­ered as high variance.

Although every­one will want a low vari­ance so that one can win every night, sports bet­ting doesn’t work that way and instead have a very high vari­ance. It is not uncom­mon to find around 10–30 times more vari­ance in sports gam­bling than you are going to find when bet­ting on the stock mar­ket. The vari­ance, how­ever, may reduce over the long term.

You always need to remem­ber the fact that the vari­ance is higher with fewer games bet, cour­tesy the law of larger num­bers. This sim­ply means that your prospects of win­ning or los­ing a lot increases when the num­ber of wagers is less. This brings us to the most impor­tant point to sus­tain in sports bet­ting, which is the abil­ity to with­stand los­ing streaks and will to wait for long-term profits.

Related Posts:

• Under­stand­ing the Con­cept of Yield in Sports Betting
• Sports Bet­ting Tips: Under­stand­ing Par­lays and Teasers
• Sports Bet­ting Tips: Sweet­heart Teaser Bets
• In-depth Look into MLB Betting
• Horse Bet­ting: Under­stand­ing All Types of Quiniela Bets

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