Overview Of Betting Systems - The Gambler's Fallacy

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Betting Systems And Why They Don’t Work

Overview Of Betting SystemsYou could head to a search engine right now and look for a winning betting system, and within moments you’ll find various betting systems which offer you the opportunity to win a ridiculous amount of money daily, or bet with an incredible winning rate. Unfortunately, these systems don’t actually work – and I’ll explain why.

Overview of Betting Systems - Gamblers Fallacy

You’re sitting in a casino at a Roulette table, and you’ve seen red come up the last seven spins. The guy sat to your right says “This can’t carry on, it must be black next time” and shoves all of his chips onto black. The roulette wheel spins and it’s red again. “Unbelievable!!” shouts the guy and walks off shaking his head, muttering about him being THAT unlucky.

As anyone who has at least a small understanding of gambling should know, the fact that there were seven reds in a row has no impact whatsoever on the next spin – the next spin is just as likely to be red as it is black. However many people do not understand this, and it’s known as the “Gamblers Fallacy”. The guy who put all of his money on black might presume that his bet here was unbelievably unlucky, thinking his bet is a victim of a massive odds shock, and probably exclaiming this fact to everyone, but we know it wasn’t.

Planet Mark's Top Rec:

32Red are giving the old 'High Street Bookies' sports betting brands some real trouble in 2019.

This very slick site offers top-rated odds; a huge range of bets and a big list of player promotions (really, check the latest before you bet elsewhere). This now includes an excellent 100% profit boost offer for all new players.

32Red are my go-to betting site, you’ll quickly find out why once you see www.32red.com/sports for yourself - check them now!

 

30181

 

Planet Mark's Top Rec:

32Red are giving the old 'High Street Bookies' sports betting brands some real trouble in 2019.

This very slick site offers top-rated odds; a huge range of bets and a big list of player promotions (really, check the latest before you bet elsewhere). This now includes an excellent 100% profit boost offer for all new players.

32Red are my go-to betting site, you’ll quickly find out why once you see www.32red.com/sports for yourself - check them now!

 

30181

 

Planet Mark's Top Rec: There are a lot of good reasons why Bovada are the number #1 US friendly sportsbook. Look beyond the big welcome bonus and you'll find the real magic...

Bovada have a huge range of markets (especially when it comes to the bigger events), competitive lines and super-easy deposits / withdrawals.

The killer reason is the promos – you’ll find their list of offers for regular bettors unrivalled anywhere online. Check out www.bovada.lv to see the latest deals for yourself now!

Bovada Sportsbook

Overview of Betting Systems – Martingale System

Many systems advertised online use a variation of the Martingale system, and try and take advantage of the Gamblers Fallacy. Here I give an example of the Martingale system.

An online system advertises a system where you bet on baseball. Each bet is placed at around even money, and it involves doubling your stake every time your bet loses. Your initial aim is to win five dollars. On the first game you bet $5. If it wins you have won $5 – great!

If it loses you just double your stake. So on the second game, you’ll bet $10. If that wins, you win $10 on that bet, and seeing as you only lost $5 on the first one, you have $5 profit again.

If the first two bets lose, then you’ll bet $20 on the third game. If this wins, you’ll win $20, and having lost a total of $15 on the first two games, once again you are guaranteed a $5 profit.

As you can see a pattern is forming here, and whatever happens, and however many bets you have to place, you’ll win $5 at the end of it. Great!! Right? Well, not exactly…

Consider the following scenario. You’ve followed this system for a few weeks and you are in profit for over $200. Then you find yourself in a situation where the first five selections have all lost. Having placed bets of $5, $10, $20, $40 and $80 you now have to place a bet of $160. This is fine, your betting bank is big enough as you are nicely in profit, and the system can’t lose. The bet loses, and you have to bet $320 this time. OK, it’s a bit scary now, but the system cannot lose so you place the bet. It loses again – and now you need to bet $640. You gulp, and have to add more funds to your gambling account, and place the next bet. However, you hit a snag… The bookmaker turns down the bet – limiting your bet to just $200, as you have been a regular winner. You scramble around other bookmakers, and manage to find one that will take the other $440. Again, unbelievably (not) the next one loses again – you need to wager $1280 on the next game. Can you find $1280? Can you find a bookmaker/s that will take that size of bet? If that loses, can you get your hands on the next stake? Or even the next one? You could be facing the gamble of your life? If you stop, you have taken a huge hit, but if you carry on now, you could lose a huge, even life changing amount of money?

Mathematically, if you were to run a simulation on this scenario with no limits to your funds or the size of bets that a bookmaker would take, then you would indeed win $5 every time.

However, if you were to run a realistic simulation on this scenario, with a limit on the last bet being placed, the rare bad day would wipe out every single good day and some extra on top.

Overview of Betting Systems – Reality Check And Alternatives

Unfortunately there are no simple betting systems that work – if there were, firstly wouldn’t you keep it to yourself, and secondly, if there were, there would be no bookmakers, as they’d all be broke, and there would be a multitude of winning punters.

Winning at gambling requires hard work, patience and finding an edge when the bookmakers are out of line. On High Tech Gambling we’ll guide you on how to find these situations, beating  the bookmakers and winning the right way. Anything else is just a fallacy.

Planet Mark's Top Rec:

32Red are giving the old 'High Street Bookies' sports betting brands some real trouble in 2019.

This very slick site offers top-rated odds; a huge range of bets and a big list of player promotions (really, check the latest before you bet elsewhere). This now includes an excellent 100% profit boost offer for all new players.

32Red are my go-to betting site, you’ll quickly find out why once you see www.32red.com/sports for yourself - check them now!

 

30181

 

Planet Mark's Top Rec:

32Red are giving the old 'High Street Bookies' sports betting brands some real trouble in 2019.

This very slick site offers top-rated odds; a huge range of bets and a big list of player promotions (really, check the latest before you bet elsewhere). This now includes an excellent 100% profit boost offer for all new players.

32Red are my go-to betting site, you’ll quickly find out why once you see www.32red.com/sports for yourself - check them now!

 

30181

 

Planet Mark's Top Rec: There are a lot of good reasons why Bovada are the number #1 US friendly sportsbook. Look beyond the big welcome bonus and you'll find the real magic...

Bovada have a huge range of markets (especially when it comes to the bigger events), competitive lines and super-easy deposits / withdrawals.

The killer reason is the promos – you’ll find their list of offers for regular bettors unrivalled anywhere online. Check out www.bovada.lv to see the latest deals for yourself now!

Bovada Sportsbook

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