Saturday, June 13, 2009

Sports Betting, Revisited

I have a lengthy post on a couple of sports betting strategies for non-sports fans below. Following up on the theme, here is a neat site on which one can bet with free money (really) on sports:
http://www.centsports.com/

These guys have found some sort of a loophole where an advertiser contributes $0.10 to your account and you can bet from there. If you lose it all, you get another $0.10. There is absolutely no cash participation required from the player's side. If you hit $20, you can cash out.

Here is my take on the site:
The good:
(1) Literally free
(2) No pop-ups
(3) Easy and quick interface (one can place a bet in under 30 secs)
(4) Increased coefficients by watching banner ads: sometimes you get an offer to increase your multiplier by, say, 50% if you see a banner ad. If you get less than 50%, you can try again and again. Very neat.
(5) Free refills of $0.10
(6) Referrals ("cronies") ongoing bonuses from there

The bad:
(1) Limited number of games to bet on: centsports for some reason does not have the breadth that a normal betting site has
(2) Start-up capital is very low
(3) Site is somewhat new so they can vanish any day (possibly with the money you earned)
(4) No more than 5-game parlay bet
(5) Some games appear on the "next 24 hr" list with a big delay

Of course, we have to check the math. Suppose I play "safe" only by the odds. Before you see a check in the mail ($20), how many consecutive bets do you have to make starting at $0.10?

Coefficient//consecutive cumulative bets to hit $20
1.01-- 533 bets
1.02-- 268 bets
1.03-- 180 bets
1.05-- 109 bets
1.10-- 56 bets
1.01 is -10,000 converted to money line, 1.02 is -5,000, 1.03 is -3,333, 1.05 is -2,000 and 1.10 is -1,000.

This is a lot of betting. Another strategy would have been doing a parlay bet on all games on a given day, until you win all to get a good headstart but the site does not allow more than 5-game parlays. Risk management 101 on their side.

Please note that I am not affiliated with centsports and I do not get referrals for this.

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