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In this video, we discuss sports betting math and the key mathematical formulas that sports bettors need to know to be successful. The most common sports betting mathematical formulas are determining fair win percentage and expected value. These are the key concepts in sharp sports betting strategies. It doesn’t matter if you are betting on MLB, NFL or any other sport. Knowing how to remove vig from sportsbook odds and calculate expected value is essential.
We examine two NFL betting opportunities that are arbitrage bets between Pinnacle and BetMGM sportsbook. We overview why Pinnacle is known to be the sharpest betting market in the world. They have low vig (or “juice”); they accept sharp action and even view themselves as “arbitrage friendly.” Any profitable NFL betting strategy will use math to determine fair win percentage and expected value for each betting opportunity.
Sportsbooks make money by charging the vig, or juice, which is typically 4%-5%. On sharp sportsbooks like Pinnacle, the vig is lower, as these are more efficient sports betting markets. Knowing which sportsbooks are sharp is critical to making money sports betting.
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