Betting has always been about the numbers. Calculating the odds and weighing up the balance of risks and potential returns has always been – above all else – a matter of applied maths.
– Image by DaveBleasdale
Of course, there are plenty of people who do it differently. Lucky numbers, favourite colours, hunches and hot tips; there is any number of different ways that people decide to part with their money. These are – it goes without saying – some of the bookmaking industry’s favourite techniques. Bookmaking is a business founded on calculation rather than inspiration.
In contrast, the methods that bookmakers are less keen on are the ones that – effectively – play them at their own game. For example, it is now possible, courtesy of the Betfair racing app, to place bets on the basis of a thoroughly mathematical analysis of runners, riders and the movement of different bets and markets in relation to each other.
In other words, it a way to take blind chance out of the equation and begin to approach the business of betting in the same calculating, entirely business-like manner as the bookies themselves. The days of trusting to luck are a thing of the past. Twenty first century gambling is a far more precise business than it has ever been before.
In the process it has become increasingly automated. For example, the Betfair app – the “Swiss Army Knife of betting tools” – allows for players to set in place automatic cash-out options the moment that a win has been registered. At the same time it will calculate when it might be judicious to back more than just a single horse in a race so as to guarantee a profit whichever of them crosses the line first.
Whilst the bookmakers have benefitted enormously from our ability to bet online 24/7, the same technology is turning the tables in our favour. All it takes is either the right app or a good head for numbers. Of course, if you can combine the two you will definitely be on to a winner.