Ever since the success of “Moneyball” in America and abroad, a new generation of sport statistics enthusiasts has been growing. For long time sports betters, statistics have always been part of the game, a way of developing long term strategy as a way of informing real time insights. Statistics is a way of understanding the likelihood of specific events within various games. While it can’t be used to predict the future, statistics can help you make better bets every single time. If you continue to apply this knowledge in the long term, you will be more likely to have ongoing success.
But how can someone who hasn’t studied this stuff in school develop a greater working knowledge of statistics?
Learning About Sports Statistics
Good sports betters pay attention to the odds. You can get the latest odds for all Arsenal games and know more than the casual fan, but you’ll have an even greater advantage if you understand how these odds play into longer trends. There are many people who make their career as sports statisticians. And while they usually draw insights from large pools out of data for one job or other, these insights can also be used to help anticipate the outcome of games. Blogs like 538 do a great job of showing how stats tell the larger story of teams and sporting institutions, often providing more insight than what you can draw from a team’s recent history.
The best way to get better at statistics, though, is simply to use it. Start reading blogs and articles. Follow message boards where people analyze the minutia of all of the events of the recent football upset, or the ongoing career of one star player. Statistics reveal trends that play out across months, years, and decades. To make bets solely on recent events is to miss out on the broader perspective that statistics can offer.
For a more formal introduction to statistics in general, you can take a class or look at videos on Youtube. Many enthusiasts are more than willing to demonstrate how various data conclusions have important implications for real world sporting events. Again, statistics doesn’t predict, but it does make strong suggestions, some of which may prove very profitable for the sport bettor.
An understanding of statistics will also help you manage your winnings and losses. It’s easy to lose a lot of money in gambling, not just when you make a bad bet, but when you poorly manage the money you win. Creating a saving budget within your betting portfolio is a good way to steadily take profits away from your successes. It doesn’t matter how many times you make a good bet; if you lose it all later you won’t have anything to show for even a long string of good picks.
Sport gambling is fun and can be profitable, but without a knowledge of the bigger picture you are not likely to have good luck forever. Statistics offers a bird’s view of professional sports, and can clue you in to betting opportunities that might not be evident to people who don’t read the stats.