Benter continued to operate his in-person betting scheme through the turn of the millennium, with his model expanding to track more than 120 factors per horse, but the logistics were proving a grind. He felt disconnected from his gambler friends in Wan Chai—a nocturnal clique of geeks and rogues. He had started mixing with a more professional crowd, adopting their dress code of smart suits and ties, and he’d taken a more active role in the local Rotary Club chapter. Benter embraced its motto of “Service Above Self,” giving millions of dollars anonymously and visiting impoverished schools in China and refugee camps in Pakistan. For the first time, he thought seriously about quitting and moving back to the U.S. If it all has to end, he thought, I’ve had an incredible run.
At Happy Valley’s ground level, young women in beer tents passed foamy pitchers to laughing expats, while the local Chinese, for whom gambling is a more serious affair, clutched racing newspapers and leaned over the handrails. At the crack of the starter’s pistol, the announcer’s voice rang out over loudspeakers: “Last leg of the Triple Trio,” he shouted in Australian-accented English, “and away they go!”
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Sports betting appeals to the smart bettor because it is not a game with a fixed house edge where the casinos are raking off fixed percentage. Sports betting requires more skill than luck similar to live poker. You won’t win every time but the skilled handicapper has a huge advantage over the recreational bettor. Before going into more detail you need to understand how sports betting works. We will take a look at football where a point spread is involved.
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So how difficult is sports betting math? The math behind placing a winning bet is fairly complicated, but the way to stay ahead of the bookmaker is rather straightforward. If you collect on 52.4% of your bets, you’ll break even. We’ll have more details on that number later, including why it takes more than 50% wins to break even, but first some general knowledge about sports gambling and the numbers behind it.
Chariot racing was one of the most popular ancient Greek, Roman and Byzantine sports. Both chariot and mounted horse racing were events in the ancient Greek Olympics by 648 BC and were important in the other Panhellenic Games. It continued although chariot racing was often dangerous to both driver and horse, which frequently suffered serious injury and even death. In the Roman Empire, chariot and mounted horse racing were major industries. From the mid-fifteenth century until 1882, spring carnival in Rome closed with a horse race. Fifteen to 20 riderless horses, originally imported from the Barbary Coast of North Africa, were set loose to run the length of the Via del Corso, a long, straight city street; their time was about 2½ minutes.