Data Driven Betting
Data Driven Betting
In this day and age, we are surrounded by data and more that we will ever be able to make any real use of. Everything that we do in our lives is now measured or quantified in someway and although that my be a scary prospect, it is also something that can be used to our advantage.
That’s because if you have come across this website, then you probably have a keen interest in betting and it is data, which if used correctly can allow us to gain the edge on the bookmakers in any given week.
The concept of data driven betting is one that allows punters to move away from just going on their ‘gut instinct’ and instead allowing the reams of available information to be used to make informed choices.
If you let data drive your decisions, then you have a better chance of coming out on top and especially if you are running a long-term betting project, as you can play the percentages to a greater degree.
WHY DO PEOPLE NOT TRUST DATA?
The image of someone who applies a data driven betting strategy is perhaps someone who is obsessive about numbers and statistics, while although that is not necessarily incorrect, that does not mean it is a bad thing either.
If I can apply data to my betting decisions, it means I can apply a more sensible approach to my betting strategy and this could mean looking to win a little less, but win more often and that in the long run, will create more profit.
The trap that punters fall into, is that the bet on big accumulator that will promise big odds but ultimately they forget that the odds are so big for one simple reason – that being, the likelihood of a win is very small indeed.
Bookmakers love punters who place bets of this nature, as it is pretty much akin to collecting your money and these are the exact kind of bets that are placed by a mixture of blind faith or ‘gut instinct’ – a combination that is primed for failure.
Therefore, if you research the data available and scale back your selections, it means you have already given yourself a better chance of picking a weekend winner or two and although it might not be steeped in glitz and glamour, a more pragmatic approach is one that is recommended.
Ultimately there is no reason not to use the multitude of sources that are available these days and anyone who does not, is pretty much on a hiding to nothing. If you take on a data driven betting approach, you will be on the right path to victory.
Happy punting and thanks for reading, Dan.
If this has grabbed your interest and you would like to discuss/feedback then please feel free to drop me a message at [email protected]. While I am always looking for new football/data projects to work on and if you feel that my skills would be of use, I can be contacted at the same address.
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