First off, we want to differentiate between being a sports trader versus just a regular punter or casual sports bettor.
The main difference is that a punter is just betting for entertainment purposes. So, for example, it's because you like to have some money on the game, your favourite team is playing or you want to have a bit of extra fun when you're watching a match.
Nonetheless, you don't really care too much about the exact outcome. It's just a bit more fun to have some money on the game, we've all been there.
Now what's different about being a sports trader, is that your purpose of doing it is to make money.
Similar to traders in the stock market, a sports trader is trying to find assets which are underpriced relative to their real value. In simpler words, this means that they're undervalued. Now, odds are just a different way of writing probability.
What we're trying to do is the identify odds that are too high compared to the underlying probability of that event occurring. For instance, Manchester United winning their next home game.
You can also compare it to when you go to the supermarket. When you're looking for discounts and you think that a certain product is worth more to you than the price it is currently at, then you buy it.
We’ve also made a video about and a whole series of videos about sports trading, which you can find them on YouTube.
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