Welcome to the SportsBet Tracker Blog!

Welcome to the SportsBet Tracker Blog. My name is Chad Horace, and I'm the developer of the SportsBet Tracker bet tracking application that helps any person become a competent sports bettor. To download the free application, just click the "Download Info" link on the sidebar and get the app.

One of the great things about sports betting is that it is the only major wagering event that does not rely solely on the natural laws of probability. Those laws of probability created the basis for the gambling industry as a whole, allowing promoters to essentially build a profit margin based upon the amount of projected events (bets).

Take craps, for instance. To roll two sixes, or boxcars, the odds are 6 x 6, or 36 to 1. But the house pays out at 32 to 1. So 1 - ((32-1)/36) = 0.1389; converting to percentage, the house has a vigorish of 13.89%. This means, for every dollar gambled, the take is about 14 cents. Multiply that by a hundred rolls, and that's $14. Multiply it by a 100 thousand, and that's $14,000. Multiply it by 100 million, and well, now we are talking about how those topless pools on the hotel roofs are financed.

(Super math types; I understand that a little thingy called "Standard Deviation" may affect short and even medium-term runs. But that's a bit too MIT-ish for this blog.)

"OK, Chad, I know damn well how the House advantage is built in. How does this compare to betting on the Colts or the Lakers?"

Simple answer: The odds are not solely based upon the laws of nature. They are based upon the human interpretation of an event. Granted, odds setting for events are not done by chance. There are many factors that allow an oddsmaker to calculate the value of an event. Indeed, most oddsmakers are **damn good** at what they do. But "damn good" is not "PERFECT," like casino gaming odds.

These imperfections are what allow handicappers and other prognosticators to happily predict their outcomes. And we'll leave it at that for now.

Welcome to the Show!