Novig’s Post

Prop bets, or proposition betting, have made headlines recently due to scandals involving professional athletes and organized crime. For many, understanding these bets is limited, but they can be more dangerous than they seem. Curious about what prop bets are? Dive in to learn more. 🏈💸 https://lnkd.in/g4bNFgaz #PropBets #SportsBetting #mentalhealthmatters

Want to protect sports bettors? Give them more options. The data from a International Betting Integrity Association study validates this. The data also shows that when jurisdictions limit products like in-play/live betting and player props, bettors jump to offshore, unregulated books that expose them to more fraud and corruption. Maybe most importantly, restricting the betting catalogs could be a multi-billion lost opportunity for tax revenue. Makes the tight regulations in stricter states like Massachusetts look a little different.. https://lnkd.in/eyEFM9PD

Back when Internet discussion was possible, I had someone try to convince me that sports books couldn’t possibly set lines to even money and make profit on the arbitrage. One absolutely had (one asserted without evidence) to have experts who would know more than the general public and gamble with the casino’s money appropriately. Which leads to three possibilities. One could have insider information about casinos. One could be a total fool. One could work for a casino and be trying to convince gamblers that casinos have experts who are smarter than the efficient market hypothesis… and you can too! https://lnkd.in/gN-za4K6

Nowadays, every time I tune into a sporting event, the sportscasters aren't just commenting on the game - they're actively discussing betting odds. As a psychologist, this shift towards the normalization and pervasiveness of sports betting is a major concern. In our latest blog, we delve into the psychology behind this trend and its implications.

Delving into the Complex World of Gambling: Unveiling the Realities of Problem Gambling and the Disturbing Apathy of Sports Betting Companies. In this piece, we shed light on the imperative of Responsible Gambling, urging both individuals and corporations to prioritize ethical practices. There's an evident lack of concern from sports betting entities, considering how crucial the challenges ahead promise to be. #ResponsibleGambling #ProblemGamblingAwareness #EthicalGaming

🔍 Think you know all about sports betting? Think again! There's a hidden world of risks lurking beneath the surface, and we're here to pull back the curtain! 🎭🎲 👇 Dive into our latest eye-opening blog post: "The Hidden Pitfalls: Unveiling the Dangers of Sports Betting and How to Safeguard Your Finances." It's not just a read; it's a journey into the heart of what really happens when sports and betting collide. 🌪️💰 💡 Discover tips, tricks, and life-saving advice that can protect you and your wallet. Our expert insights are your shield against the unseen dangers of sports betting. 🔗 https://buff.ly/419YmzW #gamblingaddiction #problemgambling #addictionawareness #sportsbetting  

Beware of March Madness gambling scams! Stay safe while rooting for your college basketball team in the tournament. Learn how to avoid getting scammed with insights from Jon Clay of Trend Micro in this article. https://lnkd.in/eKCmsj52

Super Bowl weekend will likely be a record-breaking $1 billion+ one for the gambling industry, whose booming sports-betting apps are riding a wave of deregulation, 24/7 access via smartphone and marketing campaigns (including strange bets on whether Tayor Swift will cry if Kansas City loses). It's a global phenomenon: European gambling companies have seen revenue rise more than 5x over the past decade and they are merging to gain scale. But the real gamble is going to be whether regulators can keep up with risks of addiction, money-laundering and corruption in a market that is capturing a broader, younger audience than before. More resources are needed. https://lnkd.in/dZKWk-qz

Short history of betting Chapter 16.2. Clients in bookmakers. Classification of “smart guys” In Chapter 16.1 (https://lnkd.in/dbXfHVh3) I divided all the clients of betting companies into two groups - “gamblers” and “smart guys”, told who gamblers are, and how to distinguish them from the total number of clients. Let me remind you that smart guys are customers who are trying to gain an advantage over a bookmaker by looking for the wrong odds (in their opinion) in the bookmaker's offer. Below is my classification of smart guys: Market makers 🧠 - the client has the same information as the bookmaker, but makes more correct and accurate conclusions, i.e. more accurately determines the probabilities of events and finds value (overpriced) odds in the bookmaker's offer. "Open” insider 📰 - the client finds new information faster than the bookmaker in open sources, for example, players' social networks or team websites. By applying new information to the calculation of probabilities, the client finds profitable betting options for himself. "Close” insider ℹ - the client possesses and uses information from a source inaccessible to the bookmaker, for example, acquaintance with the team's players or direct work in a sports club. More information - more accurate estimates of probabilities. Value bettors 💻 - the client does not make his own estimates of probabilities, but chooses for himself a “reference” bookmaker, whose odds he turns into probabilities using simple calculations (if you want to know how, ask in the comments!). And he uses these “reference” probabilities to find profitable odds in not a reference betting companies. Sure (arbitrage) bettors 🔃 - the client does not make his own estimates of probabilities and does not choose a “reference” for himself. The client compares the odds in different bookmakers and tries to find situations in which he can place bets on opposite outcomes in different bookmakers and is guaranteed to stay in the black. Again, the calculation formulas are as simple as possible! “Late goal” bettors ⚽ - the client finds a faster source of information during the match. Receiving information before the bookmaker, the client places bets either on outcomes that are already guaranteed to happen or the probabilities of which have changed significantly, of course, in his favor. Fix bettors 🤢 - the client knows about the contractual nature of the match and places bets that they can never lose, because the probability of ending the match with the desired outcome is 100%. ❗ If you consider yourself a smart guy, tell us about your ways of earning money in betting companies! ❓ What do you think bookmakers need to do with each type of smart guy?

Typical Errors in Sports Betting to Avoid Introduction You may be new to sports betting and want to minimize your initial financial loss. Or perhaps you’re an experienced sports bettor fed up with consistently losing money and failing to identify potential problems with your strategies. In any case, you should be aware that sports betting is challenging. There’s a lot to learn, […]