Would this work (online sports betting)

[The Whale]

A guy I work with tries to do a similar strategy with blackjack betting when he goes to the casino.  His theory is: Bet table minimum ($5), if you win, bet $6, win again bet $7, and keep increasing future bets by a dollar with every win.  When you lose a hand, start over with a $5 bet. 

As far as I know it never works out well for him because he doesn't quit when (slightly) ahead -- and it involves getting on a long hot streak to make any money. 

[ksuno1stunner]

What are the payout percentages or whatever?  Like if I bet $100 and win, what is the percentage the bookie keeps?

I will update this thread everyday with picks, and keep a running log of how much I win.

[chum1]

I will update this thread everyday with picks, and keep a running log of how much I win.

You could do it in blog format.

[ksuno1stunner]

I will update this thread everyday with picks, and keep a running log of how much I win.

You could do it in blog format.

I'm really shooting for "First String Wildcat"

[WildWillie21]

What are the payout percentages or whatever?  Like if I bet $100 and win, what is the percentage the bookie keeps?

I will update this thread everyday with picks, and keep a running log of how much I win.

It depends on the game/teams for most sites I think. Most are bet 110 115 or 120 to win 100 etc...They usually throw in an even here and there.

As long as you win though the bookies don't keep any as I understand it. It is when you bet that 120 to win 100 and you lose is when they get you. Say you make 5 bets for 120 to win 100. You lose all of them. The bookie gets 600 dollars, but you win the next day's 5 bets at 120 to win 100. You win the same amount of bets, but you only get back 500 of what you lost the day before. So to make money you have to be well better than .500 most of the time unless you choose to only take even bets.

[ksuno1stunner]

What are the payout percentages or whatever?  Like if I bet $100 and win, what is the percentage the bookie keeps?

I will update this thread everyday with picks, and keep a running log of how much I win.

It depends on the game/teams for most sites I think. Most are bet 110 115 or 120 to win 100 etc...They usually throw in an even here and there.

As long as you win though the bookies don't keep any as I understand it. It is when you bet that 120 to win 100 and you lose is when they get you. Say you make 5 bets for 120 to win 100. You lose all of them. The bookie gets 600 dollars, but you win the next day's 5 bets at 120 to win 100. You win the same amount of bets, but you only get back 500 of what you lost the day before. So to make money you have to be well better than .500 most of the time unless you choose to only take even bets.

I'll just do 10% then.  Bet 100 win 90.

[pufizzle]

What are the payout percentages or whatever?  Like if I bet $100 and win, what is the percentage the bookie keeps?

I will update this thread everyday with picks, and keep a running log of how much I win.

It depends on the game/teams for most sites I think. Most are bet 110 115 or 120 to win 100 etc...They usually throw in an even here and there.

As long as you win though the bookies don't keep any as I understand it. It is when you bet that 120 to win 100 and you lose is when they get you. Say you make 5 bets for 120 to win 100. You lose all of them. The bookie gets 600 dollars, but you win the next day's 5 bets at 120 to win 100. You win the same amount of bets, but you only get back 500 of what you lost the day before. So to make money you have to be well better than .500 most of the time unless you choose to only take even bets.

I'll just do 10% then.  Bet 100 win 90.

  I thought you said you were just betting 10?

[ksuno1stunner]

What are the payout percentages or whatever?  Like if I bet $100 and win, what is the percentage the bookie keeps?

I will update this thread everyday with picks, and keep a running log of how much I win.

It depends on the game/teams for most sites I think. Most are bet 110 115 or 120 to win 100 etc...They usually throw in an even here and there.

As long as you win though the bookies don't keep any as I understand it. It is when you bet that 120 to win 100 and you lose is when they get you. Say you make 5 bets for 120 to win 100. You lose all of them. The bookie gets 600 dollars, but you win the next day's 5 bets at 120 to win 100. You win the same amount of bets, but you only get back 500 of what you lost the day before. So to make money you have to be well better than .500 most of the time unless you choose to only take even bets.

I'll just do 10% then.  Bet 100 win 90.

  I thought you said you were just betting 10?

100 for my mock betting.

[ksuno1stunner]

Started a new thread.

[ksuno1stunner]

Results:

11.11         -11.11
23.46         -34.57
49.52         -34.57
104.55       -84.09
220.71       -409.35
465.94       -875.29
983.66       -1,868.95
2,087.72    -3,966.67
4,418.53    -8,395.20
9,339.11    -17,744.31
19,727.01   -37,481.32

[sys]

i've bet ncaa bball games several of the last few years.  i've used martingale strategies at times.  it gets stressful.  losing 5 straight isn't as rare as you would think.  and the vig really starts to add up when you have to include it in your double.

i'm still sort of drawn to the strategy myself, but as others have pointed out, it doesn't change the fundamental odds.  you still need to win 52.something % (no money lines and straight vigs) or you will lose money.  unless you just quit before the odds start to even out.

[ksuno1stunner]

i've bet ncaa bball games several of the last few years.  i've used martingale strategies at times.  it gets stressful.  losing 5 straight isn't as rare as you would think.  and the vig really starts to add up when you have to include it in your double.

i'm still sort of drawn to the strategy myself, but as others have pointed out, it doesn't change the fundamental odds.  you still need to win 52.something % (no money lines and straight vigs) or you will lose money.  unless you just quit before the odds start to even out.

I wonder if paying more for higher odds would be better.  I mean, even an 80% chance will eventually make you lose money if you play it like a million times.