_
Given a little downhill motoring and a following wind, the 50x rules set is now just a day or so away from regaining the best win achieved a lifetime ago on February 10.
After that, it's all about setting new highs as often as possible!
Tuesday's wins lifted 5x by more than $1,000 but the red ink is still sloshing around our ankles and it's going to take more than a few good days to get the original trial back in shape.
For the benefit of casino table games players who check in here now and then, I want to stress that the target betting rules that apply to sports book wagers are quite a bit less aggressive than the ones they are used to.
On the one hand, even a 45% DWR amounts to a negative expectation of (-)10%, and that's six to ten times the NE for baccarat or blackjack.
The big difference is that dog paybacks routinely exceed even money, especially when the +110 to +145 range I talked about yesterday dictates the selection process.
For example, my database of 6,000-plus games returns a DWR of 45.2% for all selections in the optimum +110 to +145 range, which is a bookie edge of (-)9.57% n flat bets.
But when payouts are added up, the negative number turns into +1.31% player edge.
Again, that's for flat bets, and target betting is not about pushing the same amount across the bookie's counter every time you make a bet.
I should add that against those numbers, target betting scores +18.15%.
I am counting down the days to baseball's start next week, and will open a separate fund to put the 110/145 range into action.
I will keep posting 7-dog trial results until the end of April or when both rules sets turn around, but will not do the same for the baseball bets.
When the trial is over, this blog will revert to its original casino games focus, reporting my local adventures and experiences and mentioning my sports book progress (or the very unlikely lack of it) just in passing from time to time.
Here's what's new...
Thursday, April 1 at 3:45pm
It would be great if a winning streak could last just long enough to put us back where we were a few weeks ago, but patience is an essential part of this gambling thing.
Without it, you're liable to do something daft.
Wednesday was not an up-the-ladder day.
Today, there were only five qualifying bets, and rather than sit out the schedule, I have backed them and applied them where wins can do the most good.
Here's the latest:
An important reminder: The only person likely to make money out of this blog is you, Dear Reader. There's nothing to buy, ever, and your soul is safe (from me, at least). Test my ideas and use them or don't. It's up to you.
_
This blog exists to give free lessons in a simple but true gambling premise: that it is possible to overcome the negative effect of losing more bets than you win (an inevitability in a casino) by betting in such a way that you consistently win more when you win than you lose when you lose. Psychic ability is not required, just discipline and commitment. The rules have become simpler over the years, and the Target 3-Play approach can be found below.
Wednesday, March 31, 2010
Tuesday, March 30, 2010
Monday's underdogs put on a great showing, but we had no hounds in the hunt. The 7-dog trial resumes today, mostly on ice.
_
Monday's 50% DWR is a number that does not come along often enough, but I have no regrets about sitting the day out.
Most days bring one or two really surprising upsets - upsetting and surprising to everyone but the bookies, probably! - and there's no sense in lusting after long-odds paybacks.
But each day I become more convinced that risking good money on propositions that return less than even money (or less than 110% according to my most recent analyses) is not a good plan.
I updated the InvestaPick summaries today, and note that the service's selection method has win rates ranging from 47% to 51.5% to date, all of them much higher than my 45% target.
Trouble is, many of IP's bets are at -110 or less and so returns are not as dramatic as they need to be, in my opinion.
Not that there is anything wrong with a relatively safe investment option that pays "interest" exceeding 100% a year, mind you.
I am just not happy with a method that pushes bets all the way from $25 to $1,700 and then accepts a slump-ending win that leaves $170 in prior losses unrecovered.
That said, someone must be making money the IP way - someone other than the operators of the service, that is - or presumably there would be no IP for me to study and learn from.
I will post more information about InvestaPick and my ongoing "range-finding" efforts later this week.
In the meantime, here's the latest on the 7-dog trial front:-
An important reminder: The only person likely to make money out of this blog is you, Dear Reader. There's nothing to buy, ever, and your soul is safe (from me, at least). Test my ideas and use them or don't. It's up to you.
_
Monday's 50% DWR is a number that does not come along often enough, but I have no regrets about sitting the day out.
Most days bring one or two really surprising upsets - upsetting and surprising to everyone but the bookies, probably! - and there's no sense in lusting after long-odds paybacks.
But each day I become more convinced that risking good money on propositions that return less than even money (or less than 110% according to my most recent analyses) is not a good plan.
I updated the InvestaPick summaries today, and note that the service's selection method has win rates ranging from 47% to 51.5% to date, all of them much higher than my 45% target.
Trouble is, many of IP's bets are at -110 or less and so returns are not as dramatic as they need to be, in my opinion.
Not that there is anything wrong with a relatively safe investment option that pays "interest" exceeding 100% a year, mind you.
I am just not happy with a method that pushes bets all the way from $25 to $1,700 and then accepts a slump-ending win that leaves $170 in prior losses unrecovered.
That said, someone must be making money the IP way - someone other than the operators of the service, that is - or presumably there would be no IP for me to study and learn from.
I will post more information about InvestaPick and my ongoing "range-finding" efforts later this week.
In the meantime, here's the latest on the 7-dog trial front:-
An important reminder: The only person likely to make money out of this blog is you, Dear Reader. There's nothing to buy, ever, and your soul is safe (from me, at least). Test my ideas and use them or don't. It's up to you.
_
Monday, March 29, 2010
Slim pickings again today, so the 7-dog trial gets another day off. Right now, something to think about before the 2010 MLB season gets under way.
_
Once again, odds were just too funky today to enable me to make seven "dog" selections that were not too risky, but Tuesday looks promising and should put us back on track.
In the meantime, as we count down the days until the Boys of Summer stop messing about and get serious, I'd like to take a closer look at the spread range topic I have touched on a few times recently.
I am not talking about spread as in the difference between the winning and losing score, or spread as a target betting ingredient, but the odds range within which underdogs "qualify" for our consideration.
As readers who have been with me for a while will know, I opened the 7-dog trial last November 1 with a qualifying range from +100 (even money) to +180 (a payback of $1.80 on the dollar).
As the months have rolled by, I have tightened my net somewhat, occasionally making bets at less than even money to back spreads or totals - lowering the floor - and dropping my ceiling to +130 or less most of the time.
That was a mistake.
I know that not just from the 7-dog trial's current struggles, but from running tests using all the baseball, basketball, football and hockey games I have in my ever-growing database.
When it comes to betting the underdog as a matter of course, the math is as math tends to be: pretty simple.
Our goal is to hone our selection process so that we can achieve a long-term dog win rate (DWR) of 45% or better along with a rate of payback that does more than simply offset the damage done by a negative expectation of (-)10.0%.
To break even with a 45% DWR, we need an average payback of 55/45 or +123 in bookie-speak.
We are not in the game to break even, naturally, but target betting will take care of providing a profit so long as we do our part and make underdog selections that are not dachshunds (long dogs!).
It makes sense, therefore, to be as picky as we can without being so selective that we can only place a bet once in a blue moon.
I have said before that on the basis of careful study of past outcomes, I favor a minimum of +110 and a max of +145.
Here's why:
Dognostics will spout their usual guff about past results being anecdotal and irrelevant and blah, blah, blah, and the database reflects how wrong they are.
It is absolutely (and obviously) true that future outcomes can never precisely mirror what has gone before.
So absent crystal balls, we have to use archival data to be as sure as we can be that trends that seem favorable are not just meaningless anomalies.
The ALL in the table above refers to almost 6,000 games dating back to the beginning of 2008.
The biggest slices of the pie come from major league baseball (MLB) and hockey (NHL) and in order to be sure that one of those sports did not deliver patterns that wildly differed from the other, I tracked them separately as well as collectively.
The column on the far left looks at the DWRs reported on each line and indicates deviations between the maximum win percentage achieved and those for MLB and NHL.
As you can see, the 45% DWR optimum is met from a very narrow range (+110 to +125) all the way up in steps to +110 to +145, and after that, the drop-off gathers speed until I stopped the analysis at +110 to +175.
Let's be clear: target betting will deliver profits from a DWR below 45%, but we want to maximize returns while minimizing risk, unlike most of the gamblers who keep casinos and bookies in business.
Happy as I once was with paybacks as low as even money (+100) I now see the error of my ways and will bet smarter in future.
I did however extend the test to +105 and up, with the following results:
Again, consistent results from component data sets that comprised the ALL.
All of these numbers are entirely consistent with commonsense expectation.
The longer the odds, the fewer the wins. Surprise!
But it all comes down to the fact that underdogs must win consistently (but not constantly!) in order for the bookies to pay for their luxury lifestyle.
More about this later.
And tomorrow, hopefully, back to the 7-dog trial!
An important reminder: The only person likely to make money out of this blog is you, Dear Reader. There's nothing to buy, ever, and your soul is safe (from me, at least). Test my ideas and use them or don't. It's up to you.
_
Once again, odds were just too funky today to enable me to make seven "dog" selections that were not too risky, but Tuesday looks promising and should put us back on track.
In the meantime, as we count down the days until the Boys of Summer stop messing about and get serious, I'd like to take a closer look at the spread range topic I have touched on a few times recently.
I am not talking about spread as in the difference between the winning and losing score, or spread as a target betting ingredient, but the odds range within which underdogs "qualify" for our consideration.
As readers who have been with me for a while will know, I opened the 7-dog trial last November 1 with a qualifying range from +100 (even money) to +180 (a payback of $1.80 on the dollar).
As the months have rolled by, I have tightened my net somewhat, occasionally making bets at less than even money to back spreads or totals - lowering the floor - and dropping my ceiling to +130 or less most of the time.
That was a mistake.
I know that not just from the 7-dog trial's current struggles, but from running tests using all the baseball, basketball, football and hockey games I have in my ever-growing database.
When it comes to betting the underdog as a matter of course, the math is as math tends to be: pretty simple.
Our goal is to hone our selection process so that we can achieve a long-term dog win rate (DWR) of 45% or better along with a rate of payback that does more than simply offset the damage done by a negative expectation of (-)10.0%.
To break even with a 45% DWR, we need an average payback of 55/45 or +123 in bookie-speak.
We are not in the game to break even, naturally, but target betting will take care of providing a profit so long as we do our part and make underdog selections that are not dachshunds (long dogs!).
It makes sense, therefore, to be as picky as we can without being so selective that we can only place a bet once in a blue moon.
I have said before that on the basis of careful study of past outcomes, I favor a minimum of +110 and a max of +145.
Here's why:
Dognostics will spout their usual guff about past results being anecdotal and irrelevant and blah, blah, blah, and the database reflects how wrong they are.
It is absolutely (and obviously) true that future outcomes can never precisely mirror what has gone before.
So absent crystal balls, we have to use archival data to be as sure as we can be that trends that seem favorable are not just meaningless anomalies.
The ALL in the table above refers to almost 6,000 games dating back to the beginning of 2008.
The biggest slices of the pie come from major league baseball (MLB) and hockey (NHL) and in order to be sure that one of those sports did not deliver patterns that wildly differed from the other, I tracked them separately as well as collectively.
The column on the far left looks at the DWRs reported on each line and indicates deviations between the maximum win percentage achieved and those for MLB and NHL.
As you can see, the 45% DWR optimum is met from a very narrow range (+110 to +125) all the way up in steps to +110 to +145, and after that, the drop-off gathers speed until I stopped the analysis at +110 to +175.
Let's be clear: target betting will deliver profits from a DWR below 45%, but we want to maximize returns while minimizing risk, unlike most of the gamblers who keep casinos and bookies in business.
Happy as I once was with paybacks as low as even money (+100) I now see the error of my ways and will bet smarter in future.
I did however extend the test to +105 and up, with the following results:
Again, consistent results from component data sets that comprised the ALL.
All of these numbers are entirely consistent with commonsense expectation.
The longer the odds, the fewer the wins. Surprise!
But it all comes down to the fact that underdogs must win consistently (but not constantly!) in order for the bookies to pay for their luxury lifestyle.
More about this later.
And tomorrow, hopefully, back to the 7-dog trial!
An important reminder: The only person likely to make money out of this blog is you, Dear Reader. There's nothing to buy, ever, and your soul is safe (from me, at least). Test my ideas and use them or don't. It's up to you.
_
Sunday, March 28, 2010
Saturday's results were less than stellar, and today's a wash because there are not enough short-odds options to make up seven dog picks.
_
It happens that way once in a while, and with the 2010 baseball season less than a week away, I'm happy to take a breather and lick my wounds from yesterday!
It wasn't that bad with three right picks out of seven, but for the 50x set, it was a disappointing day because none of the wins matched up with big-money bets.
Again, that's just the way it goes sometimes.
On days like those, a case seems to be made for spreading the load and not permitting resolved series (those whose targets have been achieved) to fall back to a minimum bet as long as other series in the set remain in the red.
The downside of that is reflected in the 5x trial summary: Once you hit your maximum bet value, you are at the mercy of the actual value (AV) of outcomes, meaning that unless paybacks offset the certainty that dogs will never win more than 45% of games overall, you are in Trouble with a capital 'T' (and a red one at that).
This mathematical reality also highlights the need to stay in the even-money-plus zone, and to bet within a controlled odds spread.
Querying the 6,300 games in the multi-sport database, which includes two seasons of baseball and pro football and (almost) one each for basketball and hockey, gets me the indication that +110 to +145 is optimum, with an increase in the ceiling tending to be more productive than a decrease in the floor.
In other words, if you want to widen the net in order to "qualify" more bets, it's better to look for longer odds than shorter ones, however counter-intuitive that might seem.
I have more work to do on that, as always, but as I open up an assault on baseball in a week or so, I will be sticking with the +110 to +145 range until cautious and error-proof analysis tells me otherwise.
I accept that past patterns are not a cast-iron matrix for future outcomes, but they are for sure more useful than picking bets on the basis of loyalty, regional preference or any other quirky human emotion.
I learned last week that I have readers from New Zealand to Norway and from Israel to India, and it's possible that American baseball, in spite of its grandiose use of "World" in its series finale, will have limited appeal for them.
It shouldn't. The Internet makes betting easy almost anywhere on the planet, and it's not necessary to know or care anything about the teams and their players or even the game itself.
All that matters is how the bookies rate each game, which in turn gives us a chance to use even-plus payouts to turn an expected -10% overall disadvantage into long-term profit.
But as with blackjack and baccarat, no one should look to score big bucks from little ones: risk is inevitable, and it is foolish to go into battle without adequate ammunition - in our case, money.
I'll catch up on current stats tomorrow.
An important reminder: The only person likely to make money out of this blog is you, Dear Reader. There's nothing to buy, ever, and your soul is safe (from me, at least). Test my ideas and use them or don't. It's up to you.
_
It happens that way once in a while, and with the 2010 baseball season less than a week away, I'm happy to take a breather and lick my wounds from yesterday!
It wasn't that bad with three right picks out of seven, but for the 50x set, it was a disappointing day because none of the wins matched up with big-money bets.
Again, that's just the way it goes sometimes.
On days like those, a case seems to be made for spreading the load and not permitting resolved series (those whose targets have been achieved) to fall back to a minimum bet as long as other series in the set remain in the red.
The downside of that is reflected in the 5x trial summary: Once you hit your maximum bet value, you are at the mercy of the actual value (AV) of outcomes, meaning that unless paybacks offset the certainty that dogs will never win more than 45% of games overall, you are in Trouble with a capital 'T' (and a red one at that).
This mathematical reality also highlights the need to stay in the even-money-plus zone, and to bet within a controlled odds spread.
Querying the 6,300 games in the multi-sport database, which includes two seasons of baseball and pro football and (almost) one each for basketball and hockey, gets me the indication that +110 to +145 is optimum, with an increase in the ceiling tending to be more productive than a decrease in the floor.
In other words, if you want to widen the net in order to "qualify" more bets, it's better to look for longer odds than shorter ones, however counter-intuitive that might seem.
I have more work to do on that, as always, but as I open up an assault on baseball in a week or so, I will be sticking with the +110 to +145 range until cautious and error-proof analysis tells me otherwise.
I accept that past patterns are not a cast-iron matrix for future outcomes, but they are for sure more useful than picking bets on the basis of loyalty, regional preference or any other quirky human emotion.
I learned last week that I have readers from New Zealand to Norway and from Israel to India, and it's possible that American baseball, in spite of its grandiose use of "World" in its series finale, will have limited appeal for them.
It shouldn't. The Internet makes betting easy almost anywhere on the planet, and it's not necessary to know or care anything about the teams and their players or even the game itself.
All that matters is how the bookies rate each game, which in turn gives us a chance to use even-plus payouts to turn an expected -10% overall disadvantage into long-term profit.
But as with blackjack and baccarat, no one should look to score big bucks from little ones: risk is inevitable, and it is foolish to go into battle without adequate ammunition - in our case, money.
I'll catch up on current stats tomorrow.
An important reminder: The only person likely to make money out of this blog is you, Dear Reader. There's nothing to buy, ever, and your soul is safe (from me, at least). Test my ideas and use them or don't. It's up to you.
_
Saturday, March 27, 2010
Another good day, another few dollars - a fistful, in fact, from four right picks out of seven on Friday. More, please...
_
It's frustrating that wins can't be more evenly spread out so that we punters with high blood pressure don't put our health at risk during slumps.
But that is wishful thinking, of course.
If winning at any form of gambling were as easy as we would like it to be, there would be no gambling!
I'm right up against today's start times, so with no further ado...
An important reminder: The only person likely to make money out of this blog is you, Dear Reader. There's nothing to buy, ever, and your soul is safe (from me, at least). Test my ideas and use them or don't. It's up to you.
_
It's frustrating that wins can't be more evenly spread out so that we punters with high blood pressure don't put our health at risk during slumps.
But that is wishful thinking, of course.
If winning at any form of gambling were as easy as we would like it to be, there would be no gambling!
I'm right up against today's start times, so with no further ado...
An important reminder: The only person likely to make money out of this blog is you, Dear Reader. There's nothing to buy, ever, and your soul is safe (from me, at least). Test my ideas and use them or don't. It's up to you.
_
Friday, March 26, 2010
That's more like it! Five right picks on Thursday brought a bright spot to a bleak week. Ice dogs won 7 of 11 games, and we backed 4 of them.
_
Until last night's finals were in, the only good news to come my way on the betting front was that my little local casino has re-opened its table games.
The old wide-open single deck blackjack rules have gone, though, and double-deck is the new take it or leave it option.
Doubledown on any two cards is still allowed, but local purists who were so proud that our tinpot town had the best 21 layouts in northern Nevada are not happy punters.
Me, I'd rather take multiple decks than a single-deck game any day.
I avoid double decks usually because in Reno and Stateline, they add insult to injury by restricting doubles and splits.
Single deck is a definite no-no because almost everywhere these days, the payback on a natural has been slashed by more than half to 6 to 5, and there will be ice-skating in hell before I accept that rip-off.
Funny, but there seem to be more and more people who don't bother to do the math when it comes to insurance or the 6 to 5 trend.
They take even money on a natural without thinking twice when the dealer has a fat card showing, so maybe they don't care that the bonus has dropped from 50% to 20% without a single added incentive to enjoy the game.
I don't buck the consensus just to be ornery: I have been playing blackjack for 45 years now (in spite of the fact that I am not yet middle-aged!) and I know for sure that I make more money against shoes than at single-deck.
This blog saw a recent flurry of interest from baccarat players thanks to a friendly post on a website created for that august fraternity, and that's another table game that I play somewhat unconventionally.
My general rule is not to put money on Banker, especially when the stakes are high, and that gets me into all kinds of trouble with the "experts" out there.
The commission, they say, is "only 5%" and they are entitled to delude themselves if it floats their boats.
The commission is relatively negligible for players who bet a tight spread, but a target bettor can see overall wins become losses thanks to the "five percent" vig.
Bet $1,000 on Banker and lose, then repeat the bet and win, and you didn't break even: You're out $50 because you always lose 100% of your bet and win only 95%.
That's bad, bad math in my book.
I will chase a streak on Banker if the bet level per the rules is low, but otherwise I keep plugging away on Player and take my lumps, or take my money to another game.
There is a way to modify the target betting rules to cover the gouge, but in all honesty, I have to say I can't be bothered.
Alas, the flurry of baccarat-lovin' readers departed like quail in a gale after a few days, probably because of late this blog has been firmly focused on sports book betting.
Speaking of which...
Yesterday's showing grabbed back two days worth of losses and then some for 5x, and the 50x column did better still in spite of the fact that there are now three series betting well into four figures every day, and one of those biggies went belly up.
Here's what's new:
An important reminder: The only person likely to make money out of this blog is you, Dear Reader. There's nothing to buy, ever, and your soul is safe (from me, at least). Test my ideas and use them or don't. It's up to you.
_
Until last night's finals were in, the only good news to come my way on the betting front was that my little local casino has re-opened its table games.
The old wide-open single deck blackjack rules have gone, though, and double-deck is the new take it or leave it option.
Doubledown on any two cards is still allowed, but local purists who were so proud that our tinpot town had the best 21 layouts in northern Nevada are not happy punters.
Me, I'd rather take multiple decks than a single-deck game any day.
I avoid double decks usually because in Reno and Stateline, they add insult to injury by restricting doubles and splits.
Single deck is a definite no-no because almost everywhere these days, the payback on a natural has been slashed by more than half to 6 to 5, and there will be ice-skating in hell before I accept that rip-off.
Funny, but there seem to be more and more people who don't bother to do the math when it comes to insurance or the 6 to 5 trend.
They take even money on a natural without thinking twice when the dealer has a fat card showing, so maybe they don't care that the bonus has dropped from 50% to 20% without a single added incentive to enjoy the game.
I don't buck the consensus just to be ornery: I have been playing blackjack for 45 years now (in spite of the fact that I am not yet middle-aged!) and I know for sure that I make more money against shoes than at single-deck.
This blog saw a recent flurry of interest from baccarat players thanks to a friendly post on a website created for that august fraternity, and that's another table game that I play somewhat unconventionally.
My general rule is not to put money on Banker, especially when the stakes are high, and that gets me into all kinds of trouble with the "experts" out there.
The commission, they say, is "only 5%" and they are entitled to delude themselves if it floats their boats.
The commission is relatively negligible for players who bet a tight spread, but a target bettor can see overall wins become losses thanks to the "five percent" vig.
Bet $1,000 on Banker and lose, then repeat the bet and win, and you didn't break even: You're out $50 because you always lose 100% of your bet and win only 95%.
That's bad, bad math in my book.
I will chase a streak on Banker if the bet level per the rules is low, but otherwise I keep plugging away on Player and take my lumps, or take my money to another game.
There is a way to modify the target betting rules to cover the gouge, but in all honesty, I have to say I can't be bothered.
Alas, the flurry of baccarat-lovin' readers departed like quail in a gale after a few days, probably because of late this blog has been firmly focused on sports book betting.
Speaking of which...
Yesterday's showing grabbed back two days worth of losses and then some for 5x, and the 50x column did better still in spite of the fact that there are now three series betting well into four figures every day, and one of those biggies went belly up.
Here's what's new:
An important reminder: The only person likely to make money out of this blog is you, Dear Reader. There's nothing to buy, ever, and your soul is safe (from me, at least). Test my ideas and use them or don't. It's up to you.
_
Thursday, March 25, 2010
If I had any hair and it wasn't the color it used to be when I did, I'd call yesterday's screw-up a blond moment! It was a nuisance, for sure.
_
Don't know how it happened, but four of yesterday's seven picks had nothing whatever to do with any sports schedules I know of, and I'm just sorry I wasn't smoking something interesting when it happened.
My transparency rules prevent me from claiming the proceeds from errors that are all mine rather than my bookie's, so all I can do is apologize for any confusion and be grateful for the fact that none of the picks I should have selected actually won.
I am having a busy time at pursuits that do not involve thrashing the sports book, so posts for today, Wednesday, are late.
I try to avoid that, but the bets go down well before game time, and I have yet to hear squeals of protest from anyone who relies on my choices to make their own wagers.
Picks are made on the basis of pre-game odds, remember, not on what slender advantage might be gained by posting them here an hour or more into the action.
Hopefully, I will have time for a more detailed post tomorrow...
An important reminder: The only person likely to make money out of this blog is you, Dear Reader. There's nothing to buy, ever, and your soul is safe (from me, at least). Test my ideas and use them or don't. It's up to you.
_
Don't know how it happened, but four of yesterday's seven picks had nothing whatever to do with any sports schedules I know of, and I'm just sorry I wasn't smoking something interesting when it happened.
My transparency rules prevent me from claiming the proceeds from errors that are all mine rather than my bookie's, so all I can do is apologize for any confusion and be grateful for the fact that none of the picks I should have selected actually won.
I am having a busy time at pursuits that do not involve thrashing the sports book, so posts for today, Wednesday, are late.
I try to avoid that, but the bets go down well before game time, and I have yet to hear squeals of protest from anyone who relies on my choices to make their own wagers.
Picks are made on the basis of pre-game odds, remember, not on what slender advantage might be gained by posting them here an hour or more into the action.
Hopefully, I will have time for a more detailed post tomorrow...
An important reminder: The only person likely to make money out of this blog is you, Dear Reader. There's nothing to buy, ever, and your soul is safe (from me, at least). Test my ideas and use them or don't. It's up to you.
_
Tuesday, March 23, 2010
What was I thinking! Maybe the bug that had me enthroned for most of Saturday worked its way to my brain? Then again, I coulda been a hero!
_
As I keep saying - and I know you agree! - winning is all about timing.
It really wasn't a smart plan to effectively double my bet on two teams yesterday, hedging a straight-up wager with another on the spread.
But if those two dogs had delivered, I would today be a gambling genius (in my own mind, at least).
The sad fact is that Monday's games dragged the 5x trial to its lowest level to date, and dealt a body blow to the 50x column too.
The "aggressive" alternative rules set has been bouncing up and down like crazy for seven weeks now, but the good news is that just a couple of good days in succession could turn it around.
It's going to take a minor miracle for 5x to win $14,000 and reach the giddy +$6,000 heights of yesteryear, I concede. But I'm not giving up.
I also have to concede that I am cooling on the over/under spread idea, primarily because of those crappy <100% paybacks.
I will keep plugging away with research, but I do know that major league baseball and hockey, with their wimpy spreads, aka the run line or puck line, look a whole lot less attractive than basketball or pro football.
And since in a while there will be hardly anything but baseball to bet on, that discovery has given me pause!
Here's the latest data. Shed a tear or two, please...
Wednesday, March 24 at 3:00pm
Maybe the less said about Tuesday the better!
Finding the ideal odds range for underdog bets is proving a challenge, and all the time I am working on it, I hear nagging little voices reciting the mantra, "It's past, it's history, it's anecdotal."
I am cheered by the fact that the bookies too, like most humans, use what they have learned from past to create a plan for the future and then adapt, modify and improve upon on it as new data become available.
I know that the 7-dog trial is getting killed by too many wins with too tight paybacks, and the latest analysis of all potential bets since the trial began last November 1 says +110 to +145 is the optimum range.
More wins would solve that problem, you might remark, and I would agree with you.
But it is a fact that the 50x rules set peaked on February 10 at +$60,000 and the average daily dog odds to that point was +126.
Since February 10, dog odds have averaged +115. Quite a difference.
The 5x rules set hit its high point at +$6,000 on January 18, and from November 1 last year to that date, dog odds averaged +128, dropping to +118 since then.
My fault entirely: I became more risk averse, and it's an ancient Las Vegas truism that scared money never wins.
I haven't crunched the +110 to +145 numbers for the entire database, but I will, and I will tell you what I find.
Here's today's update:
An important reminder: The only person likely to make money out of this blog is you, Dear Reader. There's nothing to buy, ever, and your soul is safe (from me, at least). Test my ideas and use them or don't. It's up to you.
_
As I keep saying - and I know you agree! - winning is all about timing.
It really wasn't a smart plan to effectively double my bet on two teams yesterday, hedging a straight-up wager with another on the spread.
But if those two dogs had delivered, I would today be a gambling genius (in my own mind, at least).
The sad fact is that Monday's games dragged the 5x trial to its lowest level to date, and dealt a body blow to the 50x column too.
The "aggressive" alternative rules set has been bouncing up and down like crazy for seven weeks now, but the good news is that just a couple of good days in succession could turn it around.
It's going to take a minor miracle for 5x to win $14,000 and reach the giddy +$6,000 heights of yesteryear, I concede. But I'm not giving up.
I also have to concede that I am cooling on the over/under spread idea, primarily because of those crappy <100% paybacks.
I will keep plugging away with research, but I do know that major league baseball and hockey, with their wimpy spreads, aka the run line or puck line, look a whole lot less attractive than basketball or pro football.
And since in a while there will be hardly anything but baseball to bet on, that discovery has given me pause!
Here's the latest data. Shed a tear or two, please...
Wednesday, March 24 at 3:00pm
Maybe the less said about Tuesday the better!
Finding the ideal odds range for underdog bets is proving a challenge, and all the time I am working on it, I hear nagging little voices reciting the mantra, "It's past, it's history, it's anecdotal."
I am cheered by the fact that the bookies too, like most humans, use what they have learned from past to create a plan for the future and then adapt, modify and improve upon on it as new data become available.
I know that the 7-dog trial is getting killed by too many wins with too tight paybacks, and the latest analysis of all potential bets since the trial began last November 1 says +110 to +145 is the optimum range.
More wins would solve that problem, you might remark, and I would agree with you.
But it is a fact that the 50x rules set peaked on February 10 at +$60,000 and the average daily dog odds to that point was +126.
Since February 10, dog odds have averaged +115. Quite a difference.
The 5x rules set hit its high point at +$6,000 on January 18, and from November 1 last year to that date, dog odds averaged +128, dropping to +118 since then.
My fault entirely: I became more risk averse, and it's an ancient Las Vegas truism that scared money never wins.
I haven't crunched the +110 to +145 numbers for the entire database, but I will, and I will tell you what I find.
Here's today's update:
An important reminder: The only person likely to make money out of this blog is you, Dear Reader. There's nothing to buy, ever, and your soul is safe (from me, at least). Test my ideas and use them or don't. It's up to you.
_
Monday, March 22, 2010
Dogs as a pack had a good day Sunday, but long-shot wins did not pay off for our trial (too risky!). Lesson learned: Try again on Monday...
_
My growing multi-sport database confirms what common sense suggests: Long shots are great when they pay off, but backing them day after day is a losing proposition.
Well, duhhhh...!
Sunday's NBA schedule had a couple of nifty dog winners in Indiana at +180 and Sacramento at +170, but I long ago began to tighten my range to between +100 and +150, and I tend not to put money down on anything above +130 unless choices on a given day are limited.
The whole point of this exercise is to reduce risk.
Eliminating it entirely would be nice, but even the bookies have not found a way to do that - and if they did, we would not be having this conversation!
Spread bets continue to look promising, except when the NHL is in the picture. The "puck line" is the same +/- 1.5 that applies in baseball, but the odds stink in comparison.
Back to plain old straight-up bets (with some mostly unsuccessful exceptions yesterday) and the sad news that both the 5x and 50x rules sets suffered setbacks.
Here's the skinny...
An important reminder: The only person likely to make money out of this blog is you, Dear Reader. There's nothing to buy, ever, and your soul is safe (from me, at least). Test my ideas and use them or don't. It's up to you.
_
My growing multi-sport database confirms what common sense suggests: Long shots are great when they pay off, but backing them day after day is a losing proposition.
Well, duhhhh...!
Sunday's NBA schedule had a couple of nifty dog winners in Indiana at +180 and Sacramento at +170, but I long ago began to tighten my range to between +100 and +150, and I tend not to put money down on anything above +130 unless choices on a given day are limited.
The whole point of this exercise is to reduce risk.
Eliminating it entirely would be nice, but even the bookies have not found a way to do that - and if they did, we would not be having this conversation!
Spread bets continue to look promising, except when the NHL is in the picture. The "puck line" is the same +/- 1.5 that applies in baseball, but the odds stink in comparison.
Back to plain old straight-up bets (with some mostly unsuccessful exceptions yesterday) and the sad news that both the 5x and 50x rules sets suffered setbacks.
Here's the skinny...
An important reminder: The only person likely to make money out of this blog is you, Dear Reader. There's nothing to buy, ever, and your soul is safe (from me, at least). Test my ideas and use them or don't. It's up to you.
_
Friday, March 19, 2010
In the bookies' world, what goes down must always come up - so if we keep hanging on to their coat-tails, we'll do just fine!
_
When underdogs take a beating for several days in a row, I am sometimes inclined to forget that the guys who take our bets don't like it when favorites win more than their fair share of games.
By fair I mean expected, and expectation based on a sturdy faith in the numbers is what drives gambling in all its forms.
(Note that I didn't say gamblers, who often dance to a tune that has nothing to do with anything sensible, but gambling, which covers both sides of the equation!)
It's the reason that often, the odds on the strongest team in a given match-up are so short that they become unpalatable.
And that is when punters who feel they have to make a bet no matter what turn to spreads and totals rather that a straight-up outcome in their endless quest to make a buck or two against the book.
Simple-minded as I am, I much prefer to stick with backing the team I think is going to score the most - but I am slowly being tugged in the direction of more exotic bets so I can stay in the game when the money-line odds become downright silly.
My study of the three InvestaPick "sports funds" is to blame for that, I guess.
In spite of some betting pattern anomalies that will only be explained if I become an IP investor (when hogs become airborne!), the online service's computer-aided selections have a pretty impressive record going back far longer than my 7-dog trial.
The numbers the bookies came up with for Thursday's NHL schedule saved me from having to get unduly creative, and once again we had four right picks out of seven.
Hallelujah!
Yesterday's profits put the 5x rules set back to about where it was on March 7, which was a long way short of the best win to date (+$6,000 in mid-January) but better than we have seen in a while.
The 50x column ended Thursday's games at +$44,300, below the number for March 10 and $15,000 shy of its best ever - but all of a sudden, a full recovery actually looks do-able again.
Not that I ever doubted it...
Sunday, March 21 at 11:00am
Saturday turned out to be a pretty good day for underdogs (DWR 39%), but a lightning tummy bug turned me into a kicked underdog myself and I couldn't even crawl to Lapzilla to get my bets down. (No pants jokes, please).
Friday was a lousy day for the 7-dog trial under the 5x limit rules, but 50x caught another nice boost because one of the few dog wins coincided with the day's biggest bet.
Again: timing, timing, timing!
I'm feeling better - enough to get my job done, at least - so let's hope underdogs manage to put on a good show while the rest of us think about why we're not in church!
An important reminder: The only person likely to make money out of this blog is you, Dear Reader. There's nothing to buy, ever, and your soul is safe (from me, at least). Test my ideas and use them or don't. It's up to you.
_
When underdogs take a beating for several days in a row, I am sometimes inclined to forget that the guys who take our bets don't like it when favorites win more than their fair share of games.
By fair I mean expected, and expectation based on a sturdy faith in the numbers is what drives gambling in all its forms.
(Note that I didn't say gamblers, who often dance to a tune that has nothing to do with anything sensible, but gambling, which covers both sides of the equation!)
It's the reason that often, the odds on the strongest team in a given match-up are so short that they become unpalatable.
And that is when punters who feel they have to make a bet no matter what turn to spreads and totals rather that a straight-up outcome in their endless quest to make a buck or two against the book.
Simple-minded as I am, I much prefer to stick with backing the team I think is going to score the most - but I am slowly being tugged in the direction of more exotic bets so I can stay in the game when the money-line odds become downright silly.
My study of the three InvestaPick "sports funds" is to blame for that, I guess.
In spite of some betting pattern anomalies that will only be explained if I become an IP investor (when hogs become airborne!), the online service's computer-aided selections have a pretty impressive record going back far longer than my 7-dog trial.
The numbers the bookies came up with for Thursday's NHL schedule saved me from having to get unduly creative, and once again we had four right picks out of seven.
Hallelujah!
Yesterday's profits put the 5x rules set back to about where it was on March 7, which was a long way short of the best win to date (+$6,000 in mid-January) but better than we have seen in a while.
The 50x column ended Thursday's games at +$44,300, below the number for March 10 and $15,000 shy of its best ever - but all of a sudden, a full recovery actually looks do-able again.
Not that I ever doubted it...
Sunday, March 21 at 11:00am
Saturday turned out to be a pretty good day for underdogs (DWR 39%), but a lightning tummy bug turned me into a kicked underdog myself and I couldn't even crawl to Lapzilla to get my bets down. (No pants jokes, please).
Friday was a lousy day for the 7-dog trial under the 5x limit rules, but 50x caught another nice boost because one of the few dog wins coincided with the day's biggest bet.
Again: timing, timing, timing!
I'm feeling better - enough to get my job done, at least - so let's hope underdogs manage to put on a good show while the rest of us think about why we're not in church!
An important reminder: The only person likely to make money out of this blog is you, Dear Reader. There's nothing to buy, ever, and your soul is safe (from me, at least). Test my ideas and use them or don't. It's up to you.
_
Wednesday, March 17, 2010
It's about time: Tuesday's six winning dogs out of seven gives 5x its biggest boost to date, and 50x cashes in bigtime with a tail-wagging +$10G.
_
Sports book punters are not the most patient of people, which is presumably why they bet pro games rather than riding the stock market rollercoaster.
As I have said before, one good day proves nothing - but it sure as hell beats a bad day.
Staying with the over/under topic for a moment, yesterday saw six out of eight NBA scores top the spread, and another six come in under the total.
In eight of 11 NHL matches, eight scores were over the spread but just three were under the total.
The OS (over the spread) part of my UTOS formula is supported by an analysis of 6,101 games in the sports database, with 67% of all scores (4,081) topping the spread.
Under the total, at 3,059 or 50%, edged out 2,854 overs (47%) but only just, suggesting that betting the total is much more of an even-money proposition, made less attractive by the 10% vig.
So OS still looks good...
None of Tuesday's wins paid back less than even money, but today's NBA and NHL schedules are short on short odds, so there are a couple more funky bets in the lists below.
Thursday, March 18 at 1:00pm
We're on a roll!
Wednesday brought four right picks and gave the 5x rules set a $650 boost.
Keep this up, and we'll be back in the green before long.
Dogs did not do well overall yesterday (21%) but our timing was enough to make up for it.
The bottom line barely blipped in the 50x column, but at least there wasn't a setback in the wake of Tuesday's surge.
I am getting some flak for the UTOS posts, the gist of it being that I am making it all look too simple.
All I can say to that is that readers who choose to explore my ideas should be ready to use common sense and good judgment to tailor them to their needs.
Betting OS willy-nilly won't work. Bookies are not as dumb as the rest of us would like them to be, and they have devised all sorts of canny ways to limit their exposure.
Keep that in mind when you are going after their money!
Here's today's update:
An important reminder: The only person likely to make money out of this blog is you, Dear Reader. There's nothing to buy, ever, and your soul is safe (from me, at least). Test my ideas and use them or don't. It's up to you.
_
Sports book punters are not the most patient of people, which is presumably why they bet pro games rather than riding the stock market rollercoaster.
As I have said before, one good day proves nothing - but it sure as hell beats a bad day.
Staying with the over/under topic for a moment, yesterday saw six out of eight NBA scores top the spread, and another six come in under the total.
In eight of 11 NHL matches, eight scores were over the spread but just three were under the total.
The OS (over the spread) part of my UTOS formula is supported by an analysis of 6,101 games in the sports database, with 67% of all scores (4,081) topping the spread.
Under the total, at 3,059 or 50%, edged out 2,854 overs (47%) but only just, suggesting that betting the total is much more of an even-money proposition, made less attractive by the 10% vig.
So OS still looks good...
None of Tuesday's wins paid back less than even money, but today's NBA and NHL schedules are short on short odds, so there are a couple more funky bets in the lists below.
Thursday, March 18 at 1:00pm
We're on a roll!
Wednesday brought four right picks and gave the 5x rules set a $650 boost.
Keep this up, and we'll be back in the green before long.
Dogs did not do well overall yesterday (21%) but our timing was enough to make up for it.
The bottom line barely blipped in the 50x column, but at least there wasn't a setback in the wake of Tuesday's surge.
I am getting some flak for the UTOS posts, the gist of it being that I am making it all look too simple.
All I can say to that is that readers who choose to explore my ideas should be ready to use common sense and good judgment to tailor them to their needs.
Betting OS willy-nilly won't work. Bookies are not as dumb as the rest of us would like them to be, and they have devised all sorts of canny ways to limit their exposure.
Keep that in mind when you are going after their money!
Here's today's update:
An important reminder: The only person likely to make money out of this blog is you, Dear Reader. There's nothing to buy, ever, and your soul is safe (from me, at least). Test my ideas and use them or don't. It's up to you.
_
Monday, March 15, 2010
With the NHL and NBA seasons winding down, short odds are getting harder to find. So, it's time to dig through the floor of the "dog kennel"!
_
I have lost count of the number of bet the spread or bet totals or the moneyline will bleed you dry exhortations I have heard since the 7-dog trial began almost six (gasp) months ago.
I have ignored them steadfastly because, to a punter with a very limited comprehension of bigtime pro sports, who won and who lost has to be the most important question after any game.
But now, with odds bouncing up and down like a three-year-old on his first big boy's bed, I figure it's time to cross my fingers and toes and tentatively venture into the unknown.
The 890 bets placed so far in the 7-dog trial offer a wealth of potentially useful statistical info, and the numbers that pop out the most apply to totals and spreads.
The 7-dog sample says loud and clear that it's always best (unless you are absotively, posolutely certain for sure otherwise) to bet under the total or over the spread.
The numbers for this relatively small data set: 45% of all scores ended over the total, while 71% were over the spread.
Anecdotal! Irrelevant! I hear from the peanut gallery, aka the cheap seats where cheap shots abound.
OK then, but consider the following:
NFL 2009-10, 39% OT, 55% OS.
MLB 2009, 43% OT, 84% OS.
NBA TD, 45% OT, 65% OS.
NHL TD, 39% OT, 71% OS.
Again, if you want to bet the total, take Under every time, and if the spread's your thing always pick Over...unless of course you believe that guff about the past having nothing to teach us about the future.
Here's more detail about the 3,854 games in the sample:
Why publish this stuff for free if it really, truly offers the punting public an opportunity to get ahead of the bookies?
Why not? I say. What I have learned in the eight months or so since Pete first prodded me towards the sports book is that the venue is on the whole safer and more reliable than the table games I have been playing with a passion since I was a teenager.
And I have also concluded that a sports fund much like those promoted by InvestaPick is a viable way to go, as long as IP's rules are tossed out, and replaced with a variation of target betting.
I posted a recent target betting comparison for the three IP "funds" a while back and will keep on updating it from time to time.
None of this is meant to divert readers from the ongoing awful realities of the 7-dog trial, which has had a terrible time in the 5x column since January 18 (two months!) and a tough row to hoe in the 50x shadow rules set since February 10.
And as the headline at the top of today's entry admits, I am now having to abandon my refusal to bet negative odds in the face of diminishing opportunities and the prospect of having to give up the 7-bet daily target.
After all, these are the waning days of the basketball and hockey seasons, and short odds will not return until the Boys of Summer stop messing about and get down to business next month.
Here's the latest 7-dog info:
Tuesday, March 16 at 12:45pm
Yesterday's departure from the betting pattern that has been applied in the 7-dog trial to date gave the 50x column a nice little bump in the right direction, but cost the 5x rules set another five units.
The wider spread stands a good chance of recovery in this lifetime, but prospects are not looking so good for a 1 to 5 approach.
I am not happy about that, but also not really surprised.
Hopefully, what follows will not add to any confusion about trends observed with over/under bets on spreads and totals.
The rule I will be following from now on whenever the need arises is UTOS, an acronym for always betting Under the Total and Over the Spread.
I need to do more work on this, and Monday's results were far from conclusive with one win and one loss is each of the two categories.
Truth is, there are people out there who will argue that 5,169 games are not proof of anything, either!
I will post new data as and when.
Meanwhile, here are Monday's results and today's bets, which revert to the moneyline or "sides" because there were enough short odds to give me seven dog picks.
An important reminder: The only person likely to make money out of this blog is you, Dear Reader. There's nothing to buy, ever, and your soul is safe (from me, at least). Test my ideas and use them or don't. It's up to you.
_
I have lost count of the number of bet the spread or bet totals or the moneyline will bleed you dry exhortations I have heard since the 7-dog trial began almost six (gasp) months ago.
I have ignored them steadfastly because, to a punter with a very limited comprehension of bigtime pro sports, who won and who lost has to be the most important question after any game.
But now, with odds bouncing up and down like a three-year-old on his first big boy's bed, I figure it's time to cross my fingers and toes and tentatively venture into the unknown.
The 890 bets placed so far in the 7-dog trial offer a wealth of potentially useful statistical info, and the numbers that pop out the most apply to totals and spreads.
The 7-dog sample says loud and clear that it's always best (unless you are absotively, posolutely certain for sure otherwise) to bet under the total or over the spread.
The numbers for this relatively small data set: 45% of all scores ended over the total, while 71% were over the spread.
Anecdotal! Irrelevant! I hear from the peanut gallery, aka the cheap seats where cheap shots abound.
OK then, but consider the following:
NFL 2009-10, 39% OT, 55% OS.
MLB 2009, 43% OT, 84% OS.
NBA TD, 45% OT, 65% OS.
NHL TD, 39% OT, 71% OS.
Again, if you want to bet the total, take Under every time, and if the spread's your thing always pick Over...unless of course you believe that guff about the past having nothing to teach us about the future.
Here's more detail about the 3,854 games in the sample:
Why publish this stuff for free if it really, truly offers the punting public an opportunity to get ahead of the bookies?
Why not? I say. What I have learned in the eight months or so since Pete first prodded me towards the sports book is that the venue is on the whole safer and more reliable than the table games I have been playing with a passion since I was a teenager.
And I have also concluded that a sports fund much like those promoted by InvestaPick is a viable way to go, as long as IP's rules are tossed out, and replaced with a variation of target betting.
I posted a recent target betting comparison for the three IP "funds" a while back and will keep on updating it from time to time.
None of this is meant to divert readers from the ongoing awful realities of the 7-dog trial, which has had a terrible time in the 5x column since January 18 (two months!) and a tough row to hoe in the 50x shadow rules set since February 10.
And as the headline at the top of today's entry admits, I am now having to abandon my refusal to bet negative odds in the face of diminishing opportunities and the prospect of having to give up the 7-bet daily target.
After all, these are the waning days of the basketball and hockey seasons, and short odds will not return until the Boys of Summer stop messing about and get down to business next month.
Here's the latest 7-dog info:
Tuesday, March 16 at 12:45pm
Yesterday's departure from the betting pattern that has been applied in the 7-dog trial to date gave the 50x column a nice little bump in the right direction, but cost the 5x rules set another five units.
The wider spread stands a good chance of recovery in this lifetime, but prospects are not looking so good for a 1 to 5 approach.
I am not happy about that, but also not really surprised.
Hopefully, what follows will not add to any confusion about trends observed with over/under bets on spreads and totals.
The rule I will be following from now on whenever the need arises is UTOS, an acronym for always betting Under the Total and Over the Spread.
I need to do more work on this, and Monday's results were far from conclusive with one win and one loss is each of the two categories.
Truth is, there are people out there who will argue that 5,169 games are not proof of anything, either!
I will post new data as and when.
Meanwhile, here are Monday's results and today's bets, which revert to the moneyline or "sides" because there were enough short odds to give me seven dog picks.
An important reminder: The only person likely to make money out of this blog is you, Dear Reader. There's nothing to buy, ever, and your soul is safe (from me, at least). Test my ideas and use them or don't. It's up to you.
_