Betting systems used in sport bet

Posted by jennycooper on June 20th, 2014

Betting isn’t just about baseless speculating. A lot of calculations and scientific progression analysis goes into it so that the possible outcome that is derived is closest to what the actual result can be. Bookmakers around the world use these means and techniques in order to derive at a possible outcome and Australian bookmakers are no different. They have to study the type of sport, the players, and their performance standards and then set the wagers on the basis of the near perfect calculations that they believe will bring them the kind of profits they are aiming at. Sport bet is therefore a lot more than predictability. Though a lot depends on instincts, the evolution of sports betting has resulted in the usage of a number of betting systems which have been able to more or less predict the results.

Profit must be made no matter what is the outcome of the kind of sport bet. That should be the motto of the bookmakers, also known as bookies in popular language. And, the Australian bookmakers have been able to learn and implement the art and science of betting and ensure a result that doesn’t disappoint those who place a wager. In other words, the best price is assured. There are different kinds of betting systems that can be used in order to reach a possible outcome.

The probabilistic graphical models are very commonly used to place bets on football matches. There are certain random variables and the results are predicted on the basis of conditional dependencies. Statistical anomalies are being used as a technique of predicting results that are different from those that are speculated based on common rules. This gives the bookmakers a competitive advantage as compared to others. Finding anomalies in sport bet means that the bookmakers need to study the team members and other internal and external factors based on what the public thinks about the team and the psyche of the team members. The most commonly used system of betting is however, regression analysis, which means that different variables are studied. These variables must be ones that may affect the outcome of the sporting event. A weight is allocated to each variable based on how much they will be able to affect the outcome. Now, most of the bookmakers, including the Australian bookmakers may use either one or a combination of the systems according to the kind of sport bet they are involved in.

The usage of the betting systems has evolved with the development of the betting system from the usual brick-and-mortar betting houses to online betting. Though most of the Australian bookmakers focus on horseracing as the primary sport bet based on the level of popularity that this sport has attained, they also offer a wide range of choices to the gamblers. The betting systems which have been discussed above are used according to the kind of sports betting and are aimed at achieving a profitable wager for both the parties involved. The choice of the system depends entirely on the requirement, experience and instinct of the bookmaker who usually make all possible calculations before accepting a wager.

Resource Box: Australian bookmakers use different kinds of betting systems as a way to achieve profitable result in sport bet.