Going through back betting market
- How would blind tasting be relevant to betting?
- Who do we understand betting market
- Why is it important to build a profile
There are people that may assume in order to be a successful bettor, one must analyse the markets together with sacrificing countless hours to focus on numbers and sports. Nonetheless, it can be beneficial for the bettor to at times, think out of the box. In order to know more about back betting markets, it is advised for you to continue reading this article.
It would be vital for bettors to associate daily life experiences with sports betting. Although not a lot of us come across with sommeliers, because I’ve recently watched a documentary relating to sommeliers which got me relating it to sports betting.
Blind tasting
When betting markets slow down, I will relax myself and turn to Netflix to watch some programs. Due to this, I have come across “Somm”, a documentary.
The documentary shows four men trying to pass their master sommelier exam. This is a globally recognised exam, which ticked to be the most difficult exam to pass for a sommelier.
Sommeliers that intend to pass this exam would need to commit years of their life in learning, studying and obsessing everything to know about wine starting from its taste, geography and history.
In the final stage of the exam, the participants will be required to do blind tasting. This is when participants will have six glasses of wine unlabelled for them to do blind tasting. By doing so, they are required to determine the vintage and origin of the wines, segregating them into various categories using taste, smell and sight.
I nearly vomited during a part of the documentary because the sommelier compared the test of wine to being a fresh rubber hose or a tennis ball. However, as time went by, I started to realise that the methods used by the sommelier is rather similar to sports betting.
Analysing the market
Analysing the market is one of the most important aspects in my betting process. I assess the prices of the market using limited context, utilizing various signs and signals to construct a framework regarding the market.
As for sommeliers, they look for bitterness, volume, tanning and viscosity to trace the wine’s origin. As for me, I will look out for bookmarker margins, existing precedence, time stamps, resistance and early movement. I also look into bettors that place their bets to identify the bets’ origin and to detect value.
My main goal of each market that I research on is to offer the most supporting information in building the market’s profile. By having this profile, it would place a game in specific market circumstances that assist to identify the best to make a bet.
Current precedence
Creating a note for any current precedence is vital. Most bettors will only create notes for common opponents or previous team matchups’ odds.
I will research further to identify the market conditions for those earlier games. When was the opening of the odds and when was the closing of the odds? Whilst doing that, I will as well actively identify if any other factors exist.
If more information can be collected about how bettors decide on betting in comparable situations, it would be easier to establish whether there is any repetitive behaviour.
Profile creation
A profile will be built once there is establishment of current precedence. There are the instances of general indicators that I look out for especially when I am going through the back betting market.
Establishing whether these indicators exist or otherwise will provide me to assess the condition of the market and decide on when is the most appropriate time to place my bet. I look at all indicators in the whole market and do not just depend on one bookmaker. All of the factors are the following:-
Margins
Usually I will start-off by computing the margins. It is vital to have knowledge on which bookmakers are giving the best margin price. More often than not, professionals’ uses bookmakers that offer low margin and recreational gamblers look for bookmakers that offer high margin.
By utilizing an odds comparison website, I will be able to know all timestamps market movements.
Stability and early movement
The meaning of early movement is the changes of odds during the first 5 to 10 minutes of the opening of the market. Baji.live, one of the most reliable betting exchanges, will welcome winners and further promote bets during the early opening of the market in order to form the best price.
During this time, chances of market manipulation could happen because heavy bettors might purposely bet on a specific team in order for the opponent to have a higher price. Stability happens when for a long time in the market, there is no existence of line movement.
Influential movement or volume move
It is useful to know what forces the odds to change: whether many small amount bets with high volume that adds up, or a high amount bet with low volume that causes it.
Consistent and small odds changes means volume moves. Quick and large price changes will indicate influential moves. By comparing the odds movement with time stamps, the bettor will know whether it is an influential move or volume move.
Leading source
It is important to note which industry’s bookmakers that first alter their price.
More often than not, bookmakers will alter their prices following their competitors. Although such price changes are usually not reliant on money, any volume moves are usually mistaken as a leading source movement.
Late movement
Any changes of odds in the market opening’s first 30 minutes can be regarded as an early movement. It is vital to determine the accuracy of early or late movement for each sport because late betting of recreational money might inflate the closing price for having betted money in that game.
The aforementioned examples are just a few indicators that I usually utilize to analyse markets. A better will be able to easier identify whether it is influential moves or volume moves if he can identify stability, spot early line movement and read bookmarker’s margins.
By establishing the baseline, monitoring the leading source would predict market movement and spot the market’s true position. Utilising and perfecting such practice will enable the bettor to make wages with better market entry, and better understanding of the betting market.
