Why do people engage in sports betting? It seems hard to believe that you could make a profit engaging in sports betting even if you were one standard deviation above the average
And what is the average? Do 55% of bets lose?
I don’t bet on sports, but since the Eagles were favored by just about everybody, I’d guess that more than 55% lost on that one.
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To me it makes the games more fun to watch.
The 55% number is how bookies/casinos make their money.
They ensure that the same amount of money is on both sides and take their cut out of the middle.
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