Have I not been profitable?
I will try to explain this a different way.
Big favorites have big juice. When you parlay 5 big favorites, you are compounding that big juice.
Assuming efficient markets, take the following two lines:
A: -125 +115
B: -125 -125
If you bet both A and B at -125, do they have the same EV?
NO!!!!
Because A has roughly a -120 chance of winning, and B has roughly a EV chance of winning.... If you bet these over the long term - even though they have the same odds - you will be more profitable betting A.
Now...
Lets take this to another level. Lets look at big favorites like a -650 +450 wager. Because the EV is somewhere (for the sake of argument) around +550, you are paying more juice than if it was closer to an even wager.
Now, you compound this high juice and -EV by betting 5 or 6 of them in a parlay - and you are progressively betting worse and worse...
So when you bet a 5 team parlay that you think is -110, the EV value on that parlay is somewhere around 45%. Think about that for a minute. You are laying -110 on a 45% EV.
Have you been profitable you ask over 15 bets? Who cares. Insignificant. You will go broke over the long haul because of what I explain above. It is math. Your sample size is ridiculously small, and math is against you here.
Video that also explains this:
https://www.youtube.com/watch?v=wHfDPriLoKI
I will try to explain this a different way.
Big favorites have big juice. When you parlay 5 big favorites, you are compounding that big juice.
Assuming efficient markets, take the following two lines:
A: -125 +115
B: -125 -125
If you bet both A and B at -125, do they have the same EV?
NO!!!!
Because A has roughly a -120 chance of winning, and B has roughly a EV chance of winning.... If you bet these over the long term - even though they have the same odds - you will be more profitable betting A.
Now...
Lets take this to another level. Lets look at big favorites like a -650 +450 wager. Because the EV is somewhere (for the sake of argument) around +550, you are paying more juice than if it was closer to an even wager.
Now, you compound this high juice and -EV by betting 5 or 6 of them in a parlay - and you are progressively betting worse and worse...
So when you bet a 5 team parlay that you think is -110, the EV value on that parlay is somewhere around 45%. Think about that for a minute. You are laying -110 on a 45% EV.
Have you been profitable you ask over 15 bets? Who cares. Insignificant. You will go broke over the long haul because of what I explain above. It is math. Your sample size is ridiculously small, and math is against you here.
Video that also explains this:
https://www.youtube.com/watch?v=wHfDPriLoKI
Moving Bets, Not Losing Bets.™
https://i.imgur.com/ZJhOwBb.jpg
Moving Bets, Not Losing Bets.™
https://i.imgur.com/ZJhOwBb.jpg
PARLAY (4 TEAMS)
12/07/2014 @ 09:05 PM NHL
01. NHL - Alternative Lines (1)
[79577]
12/07/2014 @ 03:05 PM NHL
02. NHL - Alternative Lines (2)
[79605]
12/07/2014 @ 05:05 PM NHL
02. NHL - Alternative Lines (2)
[79608]
12/07/2014 @ 07:05 PM NHL
13. NHL - Will there be overtime?
[79926] NO -450 (
1000.00 1117.80
PARLAY (4 TEAMS)
12/07/2014 @ 09:05 PM NHL
01. NHL - Alternative Lines (1)
[79577]
12/07/2014 @ 03:05 PM NHL
02. NHL - Alternative Lines (2)
[79605]
12/07/2014 @ 05:05 PM NHL
02. NHL - Alternative Lines (2)
[79608]
12/07/2014 @ 07:05 PM NHL
13. NHL - Will there be overtime?
[79926] NO -450 (
1000.00 1117.80
Here is a 4:30 video on betting big favorites in a parlay.
Why it is a bad idea, why it sounds great but really isn't.
Its math DNI. Watch it. Because I know you wont listen to me. Listen to this guy.
Here is a 4:30 video on betting big favorites in a parlay.
Why it is a bad idea, why it sounds great but really isn't.
Its math DNI. Watch it. Because I know you wont listen to me. Listen to this guy.
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