Stats Based Betting System

[Faramund]

Hi all, just looking for some discussion on purely stats based systems. A system I have in mind of building takes its cues primarily from economic principles and analysis of markets and translating it to betting markets. Obviously the prices given by a bookmaker are a reflection of information known by the market. Using the market prices delivered by bookmakers, the numbers will contain information such as form, players in or out of teams, table positions etc. While there are clearly risks with not applying a level of knowledge and reasoning to your bets, has anyone had any success with betting purely based on numbers, and a wagering system based on the risk that the odds convey. Very curious to see whether this can be applied with no or little knowledge of a given sport or league. I know that there are risks with long droughts of results, and when favourites lose, but a sound wagering system might be able to control these risks. Thanks.

[froment]

Re: Stats Based Betting System Hi, Faramund, :welcome to the forum, nice to see you decided to get involved in discussions! :ok Can you, please, explain your system, I'm afraid I did not understand it?

has anyone had any success with betting purely based on numbers' date=' and a wagering system based on the risk that the odds convey.[/quote'] What numbers?! :unsure Odds? Table position? Form? Ratings? Something else? I understand you want to select your bets without any knowledge about that match; that means you want to bet based only on odds? But if you blindly bet on all matches, you're almost guaranteed to lose over the course of the season. If you're looking only for odds in specific range, you can find some odds ranges that were profitable in the past, but that doesn't mean they will be profitable in the future. So if it's your intention, I don't think you can profit in the long run. And wagering system is, of course, always based on the risk implied by the odds - more accurate your estimation whether the odds are worth taking, lower risk for your bank, and vice versa.