Why do you need statistics?
In case sports betting for you is a way to get emotion and enjoyment, then statistical indicators are not what you need. But even in such cases, it is recommended to keep records of bets made. At the very least, this will help you not to put a big hit on your budget.
But, the capers who are trying to make money from betting need strict statistical reporting. Here are a few rules that must be followed:
- Discipline. The finances you invest in sports betting should be accounted for in reporting. Avoid reckless betting and playing for the whole pot. Do not try to win back, if there was a series of failures. You have to decide on the percentage of the bank or the amounts you can afford to lose.
- Strategy. Chaos is an unacceptable action in betting. You have to decide on what strategy you will play for the long haul. The systematic approach includes betting amounts, odds, analysis of the event and teams, and advanced statistics.
- Accounting for bets. Record all bets that you make with the BK. Whatever the result, do not forget to keep a strict record of them.
- Don't be squeamish about information about events. Most important in financial reporting is how much money you won and lost in each bet. The type of bets, events, tournaments, dates, names of teams and athletes, odds, final results of events - all of this does not have to be recorded in the report. Probably, this data will allow you to correct the strategy, but in most cases, you will hardly need it.
Break-even point in betting
The break-even point is a basic statistical indicator for the beginner in sports betting. This parameter is the necessary percentage of winning bets for getting to zero, taking into account the average odds of bets made.
The formula for calculating the break-even point: Is t = 100 / K, where K is the average betting odds.
Suppose we have an average betting odds of 1.80. To break even at a long distance, 55.5% of bets made must be winning. Or, suppose the average betting odds is 2.40. In that case, it is enough that 41.7% of made bets were winning.
But at the same time, it is necessary to take into account that big deviations from the average odds should not be. For example, if you have bets with odds 1.30, and with higher odds will lose, then you will not be able to break even. Read more about the break-even point at UFABET
Conclusions
Calculating a break-even point is an important parameter when defining a strategy, one that is often not even paid attention to by the trader. The break-even point will help you in sports betting, especially if you are betting on approximately the same odds over the long haul. A break-even point will help you avoid major financial losses and allow you to analyze your betting actions.
