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The Probabilities of Basic Sports Wagering - PowerPoint PPT Presentation


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Please come and make a bet on the game listed above. Whether you have any sports betting experience or not, just try to make one bet. It’s all for fun, so give it a shot!. The Probabilities of Basic Sports Wagering. Ronald W. Yates Patrick L. Villa College of Southern Nevada.

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Please come and make a bet on the game listed above. Whether you have any sports betting experience or not, just try to make one bet. It’s all for fun, so give it a shot!


The probabilities of basic sports wagering

The Probabilities of Whether you have any sports betting experience or not, just try to make one bet. It’s all for fun, so give it a shot!Basic Sports Wagering

Ronald W. Yates

Patrick L. Villa

College of Southern Nevada


52 380952381

52.380952381 % Whether you have any sports betting experience or not, just try to make one bet. It’s all for fun, so give it a shot!

What is a

Square?


Scoreboard update
Scoreboard Update Whether you have any sports betting experience or not, just try to make one bet. It’s all for fun, so give it a shot!


Scoreboard update1
Scoreboard Update Whether you have any sports betting experience or not, just try to make one bet. It’s all for fun, so give it a shot!


Scoreboard update2
Scoreboard Update Whether you have any sports betting experience or not, just try to make one bet. It’s all for fun, so give it a shot!


Money line bets
Money Line Bets Whether you have any sports betting experience or not, just try to make one bet. It’s all for fun, so give it a shot!


Scoreboard update3
Scoreboard Update Whether you have any sports betting experience or not, just try to make one bet. It’s all for fun, so give it a shot!


Scoreboard update4
Scoreboard Update Whether you have any sports betting experience or not, just try to make one bet. It’s all for fun, so give it a shot!


Scoreboard update5
Scoreboard Update Whether you have any sports betting experience or not, just try to make one bet. It’s all for fun, so give it a shot!


Scoreboard update6
Scoreboard Update Whether you have any sports betting experience or not, just try to make one bet. It’s all for fun, so give it a shot!


Boxing
Boxing Whether you have any sports betting experience or not, just try to make one bet. It’s all for fun, so give it a shot!


Scoreboard update7
Scoreboard Update Whether you have any sports betting experience or not, just try to make one bet. It’s all for fun, so give it a shot!


Parlay bets
Parlay Bets Whether you have any sports betting experience or not, just try to make one bet. It’s all for fun, so give it a shot!


Scoreboard update8
Scoreboard Update Whether you have any sports betting experience or not, just try to make one bet. It’s all for fun, so give it a shot!


Expected values of parlay bets
Expected Values of Parlay Bets Whether you have any sports betting experience or not, just try to make one bet. It’s all for fun, so give it a shot!

With n bets in a parlay, the probability of winning is (1/2)n, and the table is based upon a standard $10 wager.


Scoreboard update9
Scoreboard Update Whether you have any sports betting experience or not, just try to make one bet. It’s all for fun, so give it a shot!


Scoreboard update10
Scoreboard Update Whether you have any sports betting experience or not, just try to make one bet. It’s all for fun, so give it a shot!


Payouts for money line parlays lines are something other than 110
Payouts for Money Line Parlays Whether you have any sports betting experience or not, just try to make one bet. It’s all for fun, so give it a shot!(Lines are something other than -110)

The money line of each proposition is substituted into

[(win amount/ bet amount) + 1], and the resulting

terms are then multiplied together.

Example: a 3-team parlay of the following propositions.


Scoreboard update11
Scoreboard Update Whether you have any sports betting experience or not, just try to make one bet. It’s all for fun, so give it a shot!


Parlay cards
Parlay Cards Whether you have any sports betting experience or not, just try to make one bet. It’s all for fun, so give it a shot!


The language of sports betting
The Language of Sports Betting Whether you have any sports betting experience or not, just try to make one bet. It’s all for fun, so give it a shot!


Scoreboard update12
Scoreboard Update Whether you have any sports betting experience or not, just try to make one bet. It’s all for fun, so give it a shot!


Post time

Post Time Whether you have any sports betting experience or not, just try to make one bet. It’s all for fun, so give it a shot!

Expected Value of a Straight Bet:

(1/2)(+$10) + (1/2)(-$11) = - $0.50

In order to break even, must win 11 out of every 21 bets

(11/21)(+$10) + (10/21)(-$11) = $ 0

Winning 11 out of every 21 bets = 52.38… %

Makes winning sound easy… doesn’t it?


Experimental probability 15 picks per week over the course of 7 seasons
Experimental Probability Whether you have any sports betting experience or not, just try to make one bet. It’s all for fun, so give it a shot!15 Picks per week over the course of 7 Seasons


Experimental probability 15 picks per week over the course of 7 seasons1
Experimental Probability Whether you have any sports betting experience or not, just try to make one bet. It’s all for fun, so give it a shot!15 Picks per week over the course of 7 Seasons


Round robin parlays
Round Robin Parlays Whether you have any sports betting experience or not, just try to make one bet. It’s all for fun, so give it a shot!

Let's say you have 4 bets that you like, call them A, B, C, and D, and you want to bet every possible parlay with these 4 bets.

Using combinations, we can find that this includes a total of 11 bets:


Betting parlays
Betting Parlays Whether you have any sports betting experience or not, just try to make one bet. It’s all for fun, so give it a shot!

Let's say you do extremely well, and pick the winner in 4 out of 7 games (which is a 57% success rate).

We will call the bets A, B, C, D, 1, 2, and 3, with the letters being winners and the numbers being losers.

Using a $10 wager:


Scoreboard update13
Scoreboard Update Whether you have any sports betting experience or not, just try to make one bet. It’s all for fun, so give it a shot!


Scoreboard update14
Scoreboard Update Whether you have any sports betting experience or not, just try to make one bet. It’s all for fun, so give it a shot!


Scoreboard update15
Scoreboard Update Whether you have any sports betting experience or not, just try to make one bet. It’s all for fun, so give it a shot!


Scoreboard update16
Scoreboard Update Whether you have any sports betting experience or not, just try to make one bet. It’s all for fun, so give it a shot!


Scoreboard update17
Scoreboard Update Whether you have any sports betting experience or not, just try to make one bet. It’s all for fun, so give it a shot!


Scoreboard update18
Scoreboard Update Whether you have any sports betting experience or not, just try to make one bet. It’s all for fun, so give it a shot!


Scoreboard update19
Scoreboard Update Whether you have any sports betting experience or not, just try to make one bet. It’s all for fun, so give it a shot!


Scoreboard update20
Scoreboard Update Whether you have any sports betting experience or not, just try to make one bet. It’s all for fun, so give it a shot!


Scoreboard update21
Scoreboard Update Whether you have any sports betting experience or not, just try to make one bet. It’s all for fun, so give it a shot!


Scoreboard update22
Scoreboard Update Whether you have any sports betting experience or not, just try to make one bet. It’s all for fun, so give it a shot!


Scoreboard update23
Scoreboard Update Whether you have any sports betting experience or not, just try to make one bet. It’s all for fun, so give it a shot!


Scoreboard update24
Scoreboard Update Whether you have any sports betting experience or not, just try to make one bet. It’s all for fun, so give it a shot!


Scoreboard update25
Scoreboard Update Whether you have any sports betting experience or not, just try to make one bet. It’s all for fun, so give it a shot!


Scoreboard update26
Scoreboard Update Whether you have any sports betting experience or not, just try to make one bet. It’s all for fun, so give it a shot!


Scoreboard update27
Scoreboard Update Whether you have any sports betting experience or not, just try to make one bet. It’s all for fun, so give it a shot!


Scoreboard update28
Scoreboard Update Whether you have any sports betting experience or not, just try to make one bet. It’s all for fun, so give it a shot!


Scoreboard update29
Scoreboard Update Whether you have any sports betting experience or not, just try to make one bet. It’s all for fun, so give it a shot!


Scoreboard update30
Scoreboard Update Whether you have any sports betting experience or not, just try to make one bet. It’s all for fun, so give it a shot!


Scoreboard update31
Scoreboard Update Whether you have any sports betting experience or not, just try to make one bet. It’s all for fun, so give it a shot!


Scoreboard update32
Scoreboard Update Whether you have any sports betting experience or not, just try to make one bet. It’s all for fun, so give it a shot!


Scoreboard update33
Scoreboard Update Whether you have any sports betting experience or not, just try to make one bet. It’s all for fun, so give it a shot!


Scoreboard update34
Scoreboard Update Whether you have any sports betting experience or not, just try to make one bet. It’s all for fun, so give it a shot!


Scoreboard update35
Scoreboard Update Whether you have any sports betting experience or not, just try to make one bet. It’s all for fun, so give it a shot!


Scoreboard update36
Scoreboard Update Whether you have any sports betting experience or not, just try to make one bet. It’s all for fun, so give it a shot!


Scoreboard update37
Scoreboard Update Whether you have any sports betting experience or not, just try to make one bet. It’s all for fun, so give it a shot!


Scoreboard update38
Scoreboard Update Whether you have any sports betting experience or not, just try to make one bet. It’s all for fun, so give it a shot!


Scoreboard update39
Scoreboard Update Whether you have any sports betting experience or not, just try to make one bet. It’s all for fun, so give it a shot!


Scoreboard update40
Scoreboard Update Whether you have any sports betting experience or not, just try to make one bet. It’s all for fun, so give it a shot!


Scoreboard update41
Scoreboard Update Whether you have any sports betting experience or not, just try to make one bet. It’s all for fun, so give it a shot!


Scoreboard update42
Scoreboard Update Whether you have any sports betting experience or not, just try to make one bet. It’s all for fun, so give it a shot!


Scoreboard update43
Scoreboard Update Whether you have any sports betting experience or not, just try to make one bet. It’s all for fun, so give it a shot!


Scoreboard update44
Scoreboard Update Whether you have any sports betting experience or not, just try to make one bet. It’s all for fun, so give it a shot!


Scoreboard update45
Scoreboard Update Whether you have any sports betting experience or not, just try to make one bet. It’s all for fun, so give it a shot!


Scoreboard update46
Scoreboard Update Whether you have any sports betting experience or not, just try to make one bet. It’s all for fun, so give it a shot!


Scoreboard update47
Scoreboard Update Whether you have any sports betting experience or not, just try to make one bet. It’s all for fun, so give it a shot!


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