Betting Against The Favorite Is A Good Idea Essays
As a professional and/or seasoned gambler, you should be risking a little money every now and again to experiment with new gambling ideas and theories. The experiments featured here are asking if contrarian betting is worth the risk.
The Contrarian Betting Soccer Experiment
In this experiment, bets were placed against the favorite. To make it fair as fair as possible, considering the limited scope of the test, bets were placed as “Win Or No Bet.” This means that if it is a draw, then the bet is void. This helps remove the sticky middle ground that pollutes the simplicity of win and lose.
Below you can see a betting slip that features five soccer games. The teams with the longest odds have been highlighted. They are the ones we are going to bet on.
INSERT IMAGE - Soccer Longer Odds
Below you can see the bets that were placed. The same amount was placed on each, and for each you can see the return. Just 1.50 Euros were placed in total.
INSERT IMAGE - Soccer Bets Placed
We are conducting a test to see if betting against the favorite is worthwhile. However, to spice it up a bit, a few multiple bets were placed. If you take a look at the betting slip below, you will see that double,…