I realise that the odds don't equal the actual chance of winning and I appreciate the advice. It would take about 30 upsets in a row to send me back to 0. I'm not a high roller and atm it's just a bit of fun. Unfortunately atm I don't have the time or desire to put in that much effort, however I might start to take my principal back out so that I don't have anything to lose. Cheers.
A lot of very fine minds have spent a lot of time trying to come up with a winning system for roulette. However, any halfway-decent mathmatician will tell you that the system that will minimise your losses is to bet as few times as possible - it's a salami slice probabilty function: the zeroes ensure the house has the edge. The more times you play, the less chance you have of getting ahead. Unfortunately, putting everything on Red at seven pm and then having nothing to do for the rest of the night doesn't appeal to most people With Sportsbet and other online betting I'd be surprised if a simple favourite-picking system is free of landmines. They can afford an effectively infinite amount of small bet losses to your account, wheras you cannot, and if you have a losing streak it is very tempting to modify your system to replace the losses. At that point, you have broken your rules and are emotionally involved, and potentially broke. If you are disciplined enough to walk away from a loss, and pull money out, then you may well do fine. If not, recognise that now, and stick by your rules.
Sure thing. Vig is short for 'vigorish'. The vig is why the book / totalizer always makes a profit from each event regardless of the end result. Rather than reinventing the wheel trying to explain how it works, I'll point you to Wikipedia who can explain it better than I can. http://en.wikipedia.org/wiki/Vigorish also http://en.wikipedia.org/wiki/Mathematics_of_bookmaking
I don't get to place wagers with Vegas books over the net. No thanks to the US Federal Interstate Wires Act of 1961, its actually illegal for licensed Vegas sportsbooks to accept bets or wagers over just about any kind of transmission. That doesn't stop other operators setting up shop in overseas jurisdictions (i.e. islands in the Caribbean) more hospitable to gambling - with odds identical to whats on offer in Las Vegas. In your situation, telegraphic transfer fees and minimum action requirement means they aren't an economic option for you. I'm glad to see you're consolidating by withdrawing your initial stake. Just don't get sloppy because its 'winnings'.
I don't consider myself a professional sports handicapper by any means, or even any type of export or authority on sports betting. If you want to ask me something about sports betting, you're welcome to do it through Private Message here. I'm willing to share past expereinces, but your mileage may vary. DYOR etc.
Oh one last thing, stay away from betting on boxing events at any level. Infer on that however you will.
Back in the old days............ My Dad had a method of betting on the GG's. He reckon's back the favourite in each race down at ya local track and you'll win. No TAB or online (none in his day No fing cameras either :lol: ), just bet at the track! Dad's mate Trevor, had a few spare bob, so he tried Dad's method and for a few months, he made easy money, and thought my Dad was a guru! Over a few sessions of Southwark and wins, Trev was convinced Dad's method was un-breakable. But then came the losses! Trev had to outlay over 5 g's to break his loosing streak, in the end he lost his nerve and didn't back the favourite; the horse won the race and that was the end of Trev's system of backing favourites. As a side note, he started at business as a truck driver carting water in the Adelaide Hills, he was an electrician by trade but could also weld and fabricate well, so he made big bucks repairing trucks and carting water, he's a self made millionaire and the last time I heard of him, he was cruising the Murray on a house boat sipping wine and chewing on good lamb shank! H
