Sports betting is starting to take over the United States, and there really isn’t a realistic end in sight. If anything, it is only going to continue to grow for a while before any ending is near. As of the time of this writing, there are 19 states that have legalized mobile sports betting. At the end of 2022, we are expecting at least two more states to legalize it as well, and they are Ohio in Maryland. Earlier this year, in early 2022 we saw two states in New York and Louisiana legalize mobile sports betting as well.
Not only are more states opening up to this new world, but we are also seeing more sportsbooks pop up in the existing legal states as well. The premier sports betting states as of right now are Colorado and New Jersey, both of whom have over 20+ legal sportsbooks available for residents of these states.
So, not only are more and more states legalizing mobile sports betting, but the actual number of legal sportsbooks in these areas is also growing. Of course, these sportsbooks are led by sports betting Titans in DraftKings Sportsbook and FanDuel Sportsbook.
With the sports betting scene blowing up, this has also created an interesting market for sports betting softwares and technologies that can provide legitimately profitable systems to bet on sports. Enter OddsJam.
OddsJam is the sharpest sports betting software out there, and, to be frank, has provided a revolutionary sports betting model and analysis system. By using OddsJam, users can make a 5% return on their investment into sports betting. Now 5% doesn’t sound like a lot, but that is the point. This isn’t a get rich quick scheme, but instead a system that will consistently have you making a profit while betting on sports.
From a strictly financial/stock market point of view, getting 5% ROI in one night of betting is great value. This is something that you can accomplish using OddsJam, and their Positive Expected Value Betting system.
Sports bettors can get a 5% ROI on a consistent basis. 5% doesn’t sound like a lot upon first glance, but from a financial/stock market perspective, getting a 5% return on an investment in one night is pretty awesome value. This is something that can be done by Positive Expected Value Betting.
Placing Bets with a Mathematical Profit Margin
The OddsJam Positive Expected Value page provides betting opportunities in which you are gaining an edge, and an actual, mathematical profit margin. The way sportsbooks make their money is by charging a vig, also known as juice. It can essentially be viewed as the tax that sportsbooks charge for placing a bet. Sportsbooks don’t charge a transaction fee for actually placing a bet, but instead charge up the odds in order to make their money.
Take for example the standard -110/-110 odds that you see for most bets. Those -110 odds mean that you need to risk $110 in order to profit $100. So, if there were two separate bettors who both bet $110, but on opposite sides, the sportsbooks would automatically profit $10. Multiply this across hundreds of thousands of bets and even more money, and you start to understand how they make so much money.
So, a key concept to understand sports betting is that the sportsbooks inherently have the edge on their users by charging this vig. Another key concept to understand is that the way sportsbooks price odds can essentially be viewed similarly to the stock market. The public mostly sets the market in terms of where the money goes. Naturally, there are going to be outside factors that can also change odds, but in general the sportsbooks will change odds based on how they are receiving money, just as stock prices change based on how stocks are being bought/sold.
What this means is that not every single sportsbook is going to have the same odds for every event. Sportsbooks are going to have different odds depending on how that individual sportsbook has received money, and this also means that not every sportsbook is going to have the “correct” odds for every event. There are going to be discrepancies, and Positive EV betting takes advantage of those discrepancies.
The way Positive EV betting works is OddsJam pulls lines from the sharpest sportsbook in the world in terms of pricing odds. This sportsbook stands out among the rest in how accurate they are at pricing odds and predicting lines. So, the OddsJam line is viewed as the “true line” of how a market should be priced at.
Then, OddsJam scans the lines of every major sportsbook to see if there is an opportunity to place a bet at more favorable odds on another sportsbook, such as DraftKings or FanDuel. If a situation such as this arises, this is considered a Positive EV bet. The wider the gap between the OddsJam Line and the line you are betting means the greater the mathematical profit margin.
The Positive EV page will also provide the profit margin of each individual bet as well. It will show you the % edge you are gaining on each specific bet. Of course, it is important to understand that not every single bet is going to win, and you won’t profit every single day placing Positive EV bets (the sports still do need to be played after all!), but this is a strategy that will be profitable in the long run.