OddsJam:
In this video, Alex (bio below) explains critical concepts in sports betting, such as closing line value (CLV) and the importance of tracking your wagers with a bet tracker.
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Alex graduated from Stanford in math/cs before working as a quantitative trader on Wall Street. He’s currently the youngest member of the OddsJam team, and also a cofounder.
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Video description:
It’s very difficult to know if you are even making money sports betting if you are not tracking your bets ruthlessly. A losing bettor wins 47% of the time and is an ATM machine for sportsbooks. A profitable bettor wins 53% of the time. Losing bettors still win 47% of the time and get a rush every time they win. They call losses “bad beats” and don’t realize that they’re just an unprofitable sports bettor. For that reason, you need to track your bets. After a sample of 500+ bets, you’ll have a clear indication of whether or not you are a profitable sports bettor. If you are losing money, then something needs to change. If you are making money, then you should be betting bigger to earn a higher dollar profit.
We also discuss closing line value (CLV) and the importance of this metric in becoming a profitable sports bettor. Consistently beating the closing line is the #1 indication of success for sports bettors. If the market is consistently closing -105/-105, and you are getting +107 odds, then you will make money in the long run.
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