How to play to lose the least? Classification of systems in sports bets Cover Image

W co grać, aby jak najmniej przegrać? Próba klasyfikacji systemów gry w zakładach bukmacherskich
How to play to lose the least? Classification of systems in sports bets

Author(s): Tomasz Szubert
Subject(s): Economy
Published by: Wydawnictwo Uniwersytetu Ekonomicznego we Wrocławiu
Keywords: sports bets; cluster analysis; logistic regression

Summary/Abstract: The study undertaken attempts to prove that any strategy of sports betting is not profitable for the players and the profits of this entertainment are derived only by companies organizing those bets. To achieve the task, the information of football matches odds in 6 recent years in selected European countries was used. In the study correlation analysis, cluster analysis and logistic regression were applied. In the course of those analyses, it turned out that only progression with unlimited maximum rate of the bet was able to bring a positive financial return from the game, but it required a very large amount of capital (sometimes of several million zlotys), which for many players was an impossible barrier to overcome In practice, bookmakers use limits of such maximum rates, blocking this way the chances of profit for players.

  • Issue Year: 2012
  • Issue No: 242
  • Page Range: 116-125
  • Page Count: 10
  • Language: Polish