Question by Sayhello969: I want to bet on sports with a proven money management system. Can someone help me get started?
I want to try a strategy in sports betting because it seems like if you can stay disciplined and stick to a plan, then money can be made. I would like to hear some answers.
Best answer:
Answer by John W
Search on “Kelly Criterion”, “John L Kelly”, “Edward O. Thorp”, and “Claude Shannon”.
It’s actually from the field of Information Theory pioneered by Claude Shannon and is the method by which bandwidth is maximized in digital telecommunication. Keep in mind that it depends on your estimate of the actual probabilities of winning be more correct than that on which the payout odds are based. This means that money management in itself isn’t enough but you’ll also need to set up a decent model to obtain reasonable probabilities or you’ll have to subscribe to a simulation service such as accuscore.com (which unfortunately the bookmakers probably subscribe to).
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