There are several ways to go about betting on sports in the 21st century.
Among the options that are rising fast in popularity is the use of statistics and data, which are increasingly helpful for those who are hoping to pick more winners than losers regularly.
While there is no way ever to guarantee to win in sports betting, it is clear data has a key role to play in helping football fans and those who love to gamble on other sports to make regular profits.
Here is our guide on how to incorporate statistics into sports betting strategy.
1. Consider the odds
The first thing to do when using data in sports betting is to examine the odds offered by a bookmaker.
Finding value is key for anyone who expects to make profits from sports betting regularly.
Assessing the odds compared to the prices offered by other bookmakers is, therefore, a good place to start.
2. What statistics are significant?
When looking at data as part of sports betting, the amount of data available to be looked at can be overwhelming.
There is so much out there in the way of statistics now. It’s difficult to know where to start, but not all the numbers will be significant.
For example, head-to-head records are often cited as a key factor when deciding what to bet on in sports gambling, but in a lot of cases, this data is irrelevant.
If two tennis players have only played each other twice and the most recent meeting was over five years ago, this is unlikely to impact their next clash.
3. Cause and correlation
When looking at statistics in sports betting, it is always important to consider cause and correlation as well.
A football team may have a higher win ratio when a certain player is fit than when they are injured, but this does not prove that the player will make a difference.
It might just be the case that the player misses the most difficult matches, skewing the figures a lot.
4. Testing your data
Perhaps the most important thing to do when using statistics in sports betting is to test out your data where possible to do so.
Otherwise, it is impossible to know whether the use of statistics in deciding your bet is effective or not.
Successful sports betting strategies usually rely on data to some extent, but for a lot of sports fans, it is better to instead rely on their instinct – or their gut – when deciding what to bet on.
Perhaps the best approach is to find a balance between the two methods, using all the relevant data and statistics to decide that is then made.
But with more and more data being placed out there all the time, it would be unwise to ignore the numbers entirely for anyone who bets on sports regularly.