Place Your Bets Early
J Thoendell stashed this in Sports
But it turns out that online gambling isn’t a great way to profit from a bet.
In a new study, researchers from Milan’s Università Bocconi looked at more than one million online bets made on Italian league soccer games. They found that gamblers who placed their bets early had a greater likelihood of winning. Internet gambling, however, tends to be a last-minute activity.
The study found that as an event approached, the gamblers ran a greater risk of “information overload,” from stats on the web like player injuries, team rankings or recent scores. Last-minute betters weren’t able to analyze all the information properly and were more likely to make mistakes.
There's a reason why The House Always Wins.
The system is designed to make betters lose more often than not.
It's fascinating to see that late betting usually loses.