Endorsed by Gambling911

Binary Thinking and Betting, Prediction vs Probability

Written by:

Aaron Goldstein

Published on:

Sep/06/2020

Luke Petty studied conomics at The University of Exeter before embarking on a career that combines two of his greatest interests, writing and sports betting. He's now with Pinnacle Sports and this week looked into binary thinking and betting, and more specifically, what is a good bet?

*6 weeks free trial - test drive - best in the biz
*Deposit with Bitcoin - They'll double it!
*Get your own domain, customized website, logo
*Switch in under an hour, earn mrore $$ for doing so
*Odds featured on DonBest.com
*Thousands of betting options daily + live in-play
*Easy and discreet payment options include gift cards
*Walmart gift cards also accepted
Start Earning Money From Your Sheet Here

As shown above, humans prefer to sort information into two distinct categories where possible. This is also the case within betting.

To an inexperienced bettor, a good bet is simply one that wins. A bad bet is one that loses. Those two buckets are easy to grasp and make intuitive sense to somebody without a good grasp of the nuances behind betting.

This however, is completely false. A winning bet can be a terrible bet whilst the best bet ever placed may have turned out to be a loser. By categorising bets in such a simple way, all of the useful information gets stripped away.

Episode 146 - Hidden Risks with Harry Crane Last week, The Business of Betting - PODCAST featured Harry Crane, a statistical professor at Rutgers University. He talks: Betting & Gambling with a Statistics Professor - Real world risk - Naive Probabilism - Open vs Closed Systems - Prediction vs Probability

Business of Betting PODCAST · Ep: 146 - Hidden Risks

- Aaron Goldstein, Gambling911.com

Gambling News

Fish Arcades Net Two With More Than 800 Charges Filed

Law enforcement considers games to be illegal gambling while operators contend these are games of skill.

Indepth Look at How Ohtani's Interpreter Mizuhara Became Players' Lifeline

LA Dodgers super star player Shohei Ohtani became the center of a gambling scandal after it was reported his interpreter, Ippei Mizuhara, had committed a "massive theft", stealing $4.5 million from Ohtani's bank account in order to pay off a gambling debt.

Exploring the Best Online Casinos in Australia

Explore the world of internet gambling with the help of a well chosen guide written by gaming enthusiasts. This in-depth investigation examines the best Aussie gamers can play at online casinos, all of which have been screened for game selection, security, customer support, and special offers.

Chip Grabbing Felon Latest to Make the Infamous Vegas Black Book

Neal Ahmed Hearne is the latest name to be entered into the book.

NFL Reinstates Players Who Violated Gambling Policy

Quintez Cephus, C.J. Moore, Demetrius Taylor, Rashod Berry and Shaka Toney can now play once again though only one of the five is under contract with an NFL team.