TheMoneyPrinter | Don't Be A Loser

TheMoneyPrinter Don't Be A Loser: "The most popular kind of bet is without a doubt, flat betting. Every Saturday night or every Monday night, an astronomic number of people place a bet on their favorite team. Soccer, Hockey, Football, on any sports. They just go for a 10$ bet or higher if they can afford to do it.
They watch the game with some friends and they have a lot of fun. Sometime they win and sometime they lose. Over a year, they win half of their bets.
Of course, they can make some little money over this period but not a lot of money. Like almost everybody they think that it is impossible to make a living at sports gambling especially using flat betting.
Well, many people believe professional sports gamblers win almost all of their bets or at least 80% of their bets to make good money. It's understandable that people think that, but it's absolutely not true. The fact is, the difference between the percentage of bets won by professional sports gamblers and the percentage of bets won by chronic losers is relatively very small. We'll ignore money line bets here for the sake of clarity, and use only those bets wherein the player risks 107 to win 100. We’ll use point spreads and over/under bets.
Against this type of bet, anyone at all can expect to win 50 percent. After all, the only thing required is to flip a coin and pick a side. The bookmakers' profit comes from the difference between what a bettor must risk and what a bettor expects to win.
Every time a player wins, the bookmaker withholds slightly more than 6.5 percent of the winnings ($7 for every $100 risked). Consequently, a bettor winning only half his bets will ultimately go broke."