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"The Logic Of Sports Betting" by Matthew Davidow and Ed Miller is a comprehensive guide that explains how sports betting markets work and how bettors can find profitable opportunities. The book focuses on understanding the dynamics of sports betting as a multiplayer game where bettors compete not only against sportsbooks but also against each other.
Key insights from the book include:
Sportsbooks act as market makers, setting initial betting lines and adjusting them based on betting action and competition.
Bettors should learn to convert odds into break-even percentages to assess the true value of bets.
Finding value involves focusing on weaker markets and related derivative markets where sportsbooks may misprice odds.
Line shopping across different sportsbooks helps minimize the hold (bookmaker's profit margin) and maximize bettor profits.
Understanding market agreement (when lines move in favor of your bet) and market resistance (when lines move against your bet) is crucial to evaluate a bet’s quality.
The book covers strategies for using parlays and multiway markets to increase betting volume and exploit mispriced bets.
The authors emphasize risk management and using data-driven models for successful sports betting.
Written with a mix of humor and practical advice, the book targets bettors who want to develop a more logical, informed, and disciplined approach to sports betting.
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