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Daily Archives: September 14, 2015

Double Chance – Betting Explained

Occasionally, bookmakers may reduce the 3 outcomes for a football match to 2, by what is known as ‘Double Chance’ betting, where a single price is offered on a win or draw. If the backed team wins or draws, the bet wins; if the team loses, so does the bet. With double chance bets there is no possibility for the ...

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Betting On The Money Line

Sports fans who enjoy wagering on baseball and hockey can sometimes be confused by the numbers and symbols commonly used by oddsmakers on the betting board. The key concept to understand when betting on these particular sports is that they mostly use moneylines rather than point spreads and involve simply picking the winning team. So instead of seeing a team ...

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Parlay Betting Odds Explained

When we explain betting odds, how to make a parlay wager is always one of the things we talk about first because it is such a popular way to bet on a variety of games. For just a few dollars, someone could conceivably win as much as a million dollars or more. Of course, this is an extremely rare situation ...

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Over-Under betting

An over–under or over/under (O/U) bet is a wager in which a sportsbook will predict a number for a statistic in a given game(usually the combined score of the two teams), and bettors wager that the actual number in the game will be either higher or lower than that number. For example, in Super Bowl XXXIX, most Las Vegas casinos set ...

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Betting Basics

If you have never placed a bet on any sporting event, you should become familiar with some betting basics that will help you when you begin placing real bets. Online sports betting is legal as long as it is being done at a site that is licensed. The site will tell you whether you are allowed to place wagers on ...

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Asian Handicap betting explained

Hang Cheng betting is known to Europeans as Asian Handicap betting. There are some very good reasons why Asian Handicap betting is so popular in Asia. Compared to traditional fixed odds betting Asian Handicap betting is slightly more complicated, but wins hands down when it comes to betting on soccer. Here’s why; There is no ‘draw’ with Asian Handicap betting, ...

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Probability And Odds

What is probability ? Probability is a quantitative measure of the likelihood of a given event. If we are certain that an event will occur it is assigned a probability of 100%. If we are certain that an event will not happen it is assigned a probability of 0%. Other events which are neither certain to occur nor certain not ...

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Expected Value

Expected value (or expectation value or EV) is a term used in probability theory and statistics and is defined as the sum of all possible values for a random variable, each value multiplied by its’ probability of occurrence. In terms of betting, EV is what you can expect to win or lose if you were to bet on the same ...

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The Gambler’s Fallacy

As defined by Dek Terrell of Kansas State University in an article published in 1994 in the Journal of Risk and Uncertainty, The “gambler’s fallacy” is the belief that the probability of an event is decreased when the event has occurred recently, even though the probability of the event is objectively known to be independent across trials.” In simplistic terms, ...

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The Concept Of Value

Value in terms of betting is a term you may have heard a lot about. It has caused hours of debate with people on either side of the argument holding very strong views. What people mean when they talk about value in terms of betting is the price, or odds, that they want to back or lay a selection at ...

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