Mathematics is quite possibly the most important aspect of sports betting, and as any veteran gambler will tell you, knowing the odds and knowing the math can be the difference between statistically winning more frequently and losing. It is one thing to walk into a place and make a bet or free bet on a single event, and quite another to make a lifelong career out of sports betting. The only way to be profitable in the long run is to know the math, know the odds, and learn how to work the statistics to your advantage.

As a general rule, a bookmaker will attempt to keep bets, including free bets against the outcome of an event in the proper proportions so that he makes a profit regardless of the outcome of the event. This is achieved through adjusting what are known as the true odds of the various outcomes of any event. Considering that in sports there are a wide variety of events, the odds for events can either be fixed – such as with a football match – or they will fluctuate to take into account the size of the bets placed as well as the number of bettors. It is vitally important to understand the relationship between relative probabilities in the odds. Statistical analysis over a long term period of time can help a veteran sports betting participant make statistically sound wagers based upon facts which have been presented over time, thus allowing a person to potentially beat the odds the bookie is setting.

Mar 09 2010