A betting strategy or betting system is a structured approach to gambling intended to counter the inherent bias held by the house in casino and card games, by bookmakers in horseracing and sports betting, and other gambling situations. A successful strategy should increase the odds of winning in order to produce long term profits from a pursuit which under normal circumstances will only ever result in a long term loss.
All successful betting systems are predicated on statistical analysis, seeking to exploit the rare circumstances when the odds are in the favour of the player. Though the basis of all risk is fundamentally the same, betting systems vary in relation to the rules and circumstances of each particular game.
Read more about Betting Strategy: Examples, Independent Events, Horse Racing Systems
Famous quotes containing the words betting and/or strategy:
“All voting is a sort of gaming, like checkers or backgammon, with a slight moral tinge to it, a playing with right and wrong, with moral questions; and betting naturally accompanies it. The character of the voters is not staked. I cast my vote, perchance, as I think right; but I am not vitally concerned that right should prevail. I am willing to leave it to the majority.”
—Henry David Thoreau (1817–1862)
“Our strategy in going after this army is very simple. First we are going to cut it off, and then we are going to kill it.”
—Colin Powell (b. 1937)