Sports Betting Systems Lesson 1 - Understanding Fake Systems
By Peter Portero (3/8/2006)
You can tweak enough numbers and parameters to make
something seem more likely than it really is. If you were to flip a fair coin
1,000 times and I told you I found a system to predict heads 60% of the time,
would you believe me?
Many betting systems that handicappers sell you are like this. They make
enough constraints on a large number of events to produce a small enough
sample size that makes an absurd claim such as being able to predict 60% heads.
Take time to infinity and you will see this system drops back to 50% for heads.
There is a trick I use to make sure that the sports betting systems I use
are valid and do not fall into this trap. But I will continue to ramble on
about the flipping of the coins experiment.
So let us pretend that the two of us independently come up with systems to
predict heads at an alarming 60% rate. If we were to take the intersection of
our two systems, basically only bet on heads when we both predict heads, our
systems would still be 60%.
The reason that the resultant system comes up 60% heads is because there
was no true value to either of the systems. When you do this with any sport
like football/basketball/baseball, however, and you have two real systems for
home favorites and take the intersection, the resultant is generally a
stronger bet than the individual systems themselves. If by chance the
resultant system is worse than the best performing individual system, then I
guarantee there is a problem with one of the sports systems.
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