RocketManJames
12-08-2004, 02:04 AM
This may be a really dumb question, but here it goes...
In poker, after so many hands, you are X% confident that your true win rate is within Y% of the estimated win rate. Eventually, when the number of hands gets large, you basically are more confident of your win rate/EV.
How does this translate in the case of a sportsbettor who bets 1 unit at a time... From poker, even 10,000 hands isn't enough to be all that confident. How does a winning sports bettor ever get to the long run? Or does a typical winning sports bettor really make tens of thousands of bets over the course of a few years?
-RMJ
In poker, after so many hands, you are X% confident that your true win rate is within Y% of the estimated win rate. Eventually, when the number of hands gets large, you basically are more confident of your win rate/EV.
How does this translate in the case of a sportsbettor who bets 1 unit at a time... From poker, even 10,000 hands isn't enough to be all that confident. How does a winning sports bettor ever get to the long run? Or does a typical winning sports bettor really make tens of thousands of bets over the course of a few years?
-RMJ