What might be the consequences of banning bookmakers from football clubs

Want proof of how bad sports betting really is? Keep on reading. My first betting experience goes back to when I was 15 years old. I remember visiting a local betting shop almost every day. It was not legal, but none really cared about the law when I was a child. It was 1993 and you could smoke, drink and bet even if you were underage.

There was only a 3-way results betting market where you could place a bet on ice hockey, soccer and tennis. Even popular games like cycling and volleyball were quite rare and I don’t remember placing a bet on these frequently. Was I winning? Nope! In fact, now I can understand that out of 20 games, I hardly won 2 and lost in all 18! It used to take me only 2 weeks to exhaust my resources.

Since then, the times have changed and nothing mentioned above is not possible anymore. Sports betting went through a big trust check and the protection has changed in a big way. Politicians like to point out individuals who lose control and gamble away their whole money. There is no denial that things like that happen, but you can always use an example with cars. When a car causes an accident, are we going crazy to ban them? This would be indeed a silly idea, so why do we not make fair rules for sports betting just like we did for traffic?

Why should we? Let me give you the reason. No matter what you think about bookmakers, there is a partnership that keeps the sports alive. Many English football clubs are sponsored by sports betting and banning sponsorship might ruin many clubs. This game however goes beyond our powers, so let’s go back to what we can control and that is our behaviour.

Explaining betting odds

Probability is the only way to practically explain the betting odds. You will better grasp it if we consider decimal odds. For instance, if the fair odd is 2.00, the probability will be 50%. Here’s how to calculate: 1 / decimal odds multiplied by 100% = probability Therefore for 2.00, 1 / 2 = 0.5 x 100% = 50%. If you have 3 games with odds of 2.55, 1.84 and 2.13 and your stake amount is £5, the chances of win are as follow:

2.55 x 1.84 x 2.13 x 5 = £49.97 General formula

Odds(1) x Odds(2) x Odds(3) x … Odds(number) x Stake = Potential win For those who wonder how to create your own odds, we recommend using an odds calculator. Before you use it make sure to give it 30 minutes and learn how to feed it data.

The mindset of football betting explained

Well, summarizing the core of betting psychology is never possible. You have to cut down your emotions and simply look at mathematics to build a strong betting strategy. In this book, I have dealt with all about betting strategy so here I want to focus mainly on psychology. I am going to explain it below. Check: Suppose you have placed 20 bets one after another and lost 18 of them. Strategically speaking, you will be compelled to bet another £100 on the next bet: And this is where you should stop. Despite what strategy says, how bad you want to win the next game, just quit it.

Here’s what you have to avoid at all cost while placing a bet: A specific team should win

Predictions and earlier examples say that team B has a chance to win but you have placed a bet on team A because you believe team A should win: I agree with your approach - it’s logical. But betting is not about logic, it’s about pure calculation. It may make complete sense that Leeds United should win to avoid any relegation. It also made sense that Bayern Munich has no reason to win because they are already declared as the champions. And to my dismay, I got to know after the game that a team with no motivation won over the other.

As you can understand, probability has nothing to do with what we need. Would be fair if a specific team wins

Predictions suggest that team C should win but you want to bet on team B because it deserves the point. Team B could score only 2 points in the last 5 games so it’s fair for them to win. Team C should let them win because they are playing in the home stadium of team B. Who wants to disappoint the viewers! If you are resonating with this mental process while betting, stop at that. Betting is not fair, it has never been so and it will never be so.

Probability has no regard for what should be fair. Fandom

If you are a fan of a specific team and betting on it just to extend your support, you are going wrong. Betting is not a place to show your love and support. It’s all about strategy and cold calculation So, stop yourself from placing a bet on your favourite team if you have any concern to win money on your bet.

Probability is least bothered about love and affection. So, what does probability care about?

As you could understand, probability is not bothered about what’s fair, love or need. Probability only cares about mathematics. Don’t believe me? You don’t have to. Here’s an exercise to try. Go for a coin toss. Toss the coin 10 times and bet that heads will land more than 60% of all the times. Now, repeat the same experiment for the next 50 times and check if it happens. Here’s the psychology of betting explained for you in one line: If your bookmaker offers an off of 2.3 and your verified prediction states 1.9, you can find a 21.1% value. You must go for that. If your predictions are accurate, you will definitely win 21.1%.