How Much Do You Know About Professional-Level Sports Betting?

Back Line Shooter · 01-06-2002, 05:48 AM

There are very profound differences between average sports bettors and genuine pros. Here are ten questions that less than 1 in 100 sports bettors will answer correctly. Try this test on your favorite tout...If he doesn't pass this test he's NOT really a professional gambler.

1. When laying 11 to win 10, approximately how much vigorish is paid by losing bettors:
A: 4.5%
B: 5%
C: 10%
D: None of the above

2. Against money lines, bookmakers make...
A. ...slightly more when a favorite wins
B. ...slightly more when an underdog wins
C. ...the same, whether the favorite or the underdog wins
D. ...None of the above

3. A 3-bet parlay paying 6-to-1 has vigorish costs...
A. ...much higher than 3 individual bets.
B. ...much lower than 3 individual bets.
C. ...slightly higher than 3 individual bets.
D. ...slightly lower than 3 individual bets.

4. Professional-level sports bettors expect to win...
A. ...70%-75% of their bets.
B. ...65%-70% of their bets.
C. ...60%-65% of their bets.
D. ...55%-60% of their bets.

5. On any single bet, professional-level sports bettors rarely risk more than...
A. ...15% of their bankroll.
B. ...10% of their bankroll.
C. ...5% of their bankroll.
D. ...None of the above.

6. When laying 12 to win 10, winnings are shorted by approximately...
A. ...6.5%
B. ...8.5%
C. ...10%
D. ...17%

7. With a 60% winning expectation-per-bet, the odds against going 4-0 are...
A. ...about 2-to-one
B. ...about 4-to-one
C. ...about 5-to-one
D. ...about 7-to-one

8. In football, that stat which best parallels a team's won-lost record is...
A. ...total yards gained/allowed.
B. ...penalties.
C. ...passing yards gained/allowed.
D. ...rushing yards gained/allowed.

9. Generally, the most significant football injury to a pro gambler happens to the...
A. ...quarterback
B. ...running back
C. ...wide receiver
D. ...center

10. The most used money management system by professional gamblers is:
A. The Kelly criterion
B. One-star, two-star, three-star system
C. A set percentage of their present bankroll
D. None of the above

Post your answers....
Scoring the test is simple. Give yourself 10 points for every 'D' answer, 0 for anything else. Trouble is, any score less than 100 is a failing score. A professional-level sports bettor must know the answer to all the questions or sooner or later he'll be out of business.

Correct answers will be posted on 1/6/02...enjoy

Tom0Co · 01-06-2002, 05:59 AM

If you were a "professional" gambler you would know not to go and copy and paste from professionalgambler.com and post it here. I like Mr. Miller's site, but this quiz.. proves nothing and the aforementioned Guru does have his critics here.

In any event wadda ya wanna bet I can ace your quiz?!? [img]tongue.gif[/img] .. I'll give ya BIG odds, Mr Pro!

sick gambler · 01-06-2002, 05:59 AM

1 D
2 D
3 D
4 D
5 D
6 D
7 D
8 D
9 D
10 D

[ 01-06-2002: Message edited by: sick gambler ]</p>

Tom0Co · 01-06-2002, 06:03 AM

Sick, this is American rules, not Canadian... get it together... LMAO

sick gambler · 01-06-2002, 06:12 AM

Tommy boy

My answers are all right.

01-06-2002, 06:13 AM

J.R. Miller? LOL. Maybe Sonny Palermo can make a guest appearance in this forum and tell us exactly how much J.R. really knows about "professional-level sportsbetting."

pmj18 · 01-06-2002, 06:14 AM

Sick, you just changed half of them. [img]smile.gif[/img]

BuzzRavanaugh · 01-06-2002, 03:00 PM

I bet Sonny Palermo can answer these questions. Where is he?

alec · 01-06-2002, 03:18 PM

I, for one, like the idea of a quiz, especially its mathematical part. I have never visited Miller's site so I haven't seen it before. Thanks for the post.

I think it would be a good idea to compile a similar quiz and put it on the home page of MW.

By the way, I have just checked "devil's definitions". It looks like "vig" is just another term to denote theoretical hold. Is it correct?

buckeye · 01-06-2002, 04:49 PM

alec,
I think devil's definition is correct, and I espouse it myself. Vig isn't a reflection of the ACTUAL PROFIT of the book or "results based". IMO, it is the theoretical hold on each bet, thus 4.545% on spread bets of -110. Therefor, the only answer I strongly disagree with is 1, I say it is A. Winner's and loser's share the VIG equally in that all bets have the inherent 4.545% vig. How much the book actually made on the game, or the results, is irrelevent to vig discussions. Actual PROFIT of the book or player is results based, but that isn't what vig reflects. The vig for roulette is 5.26% regardless of what actual # is spun or who bet what on that spin. The same applies to sportsbetting vig, IMHO!

deepsouth · 01-06-2002, 04:54 PM

This is really a bunch of crap. For example ...

Question #1, it all depends on your definition of vig. JR Miller tells us that winners pay (or is it losers? I honestly can't remeber), but he's just looking for a semantics argument.

Question #5 is worded horribly ... "A" is almost certainly the best answer, but I don't think the writer of the quiz intended it to be.

3rd&long · 01-06-2002, 08:15 PM

deepsouth,
Right. His cockeyed and unyielding argument about who pays the juice is pure foolishness.

alec · 01-06-2002, 08:46 PM

buckeye,

Totally agree with you. Are you saying that the correct answer to the first question is not "A" according to Miller?

Several other questions are not clear for me either.

2. Against money lines, bookmakers make...
A. ...slightly more when a favorite wins
B. ...slightly more when an underdog wins

Who knows? It depends on the particular match. But the answer is immaterial anyway.

4. Professional-level sports bettors expect to win...

Also a strange question, I think.

6. When laying 12 to win 10, winnings are shorted by approximately...

Compared to what? to 11/10?

Bucky · 01-06-2002, 10:47 PM

Backline
If I shop for lines and I might find I can get the Packers -150 at Book A or Book B has the Giants for +150. Regardless of which team I bet on here - have I paid juice?
Or if everybody has the Lakers at -5 and I find a -4 and I lay ll/10 - have I paid juice?

Back Line Shooter · 01-06-2002, 11:14 PM

<blockquote>quote:[/size]Originally posted by Tom0Co:
If you were a "professional" gambler you would know not to go and copy and paste from professionalgambler.com and post it here. I like Mr. Miller's site, but this quiz.. proves nothing and the aforementioned Guru does have his critics here.

In any event wadda ya wanna bet I can ace your quiz?!? [img]tongue.gif[/img] .. I'll give ya BIG odds, Mr Pro![/quote]

Settle down dude, it’s all in fun. Just thought everyone would get a kick out of the information. I didn’t profess to be a “professional gambler”, just opening the floor up to a little conversation.

Yes the answers can be found her…….

ProfessionalGambler.com

Tom0Co · 01-07-2002, 07:22 PM

I'm not in arms, I did put the smiley with the tongue sticking out... guess I shooda put more in. Just wanted a crack at the 100 - 1 odds of getting all the "official" answers correct.

Sick, your original post was much funnier... cheater!

In any event I think it's NOT a very good quiz and really doesn't prove anything. The first question is equivalent to what came first the chicken or the egg, and usually provides an endless debate that is of little use. Also as indicated, several other questions not all that great.

Now for as the Center in football, last report I have on Rams is C-McCollum is fit however Warner is under the weather...
<blockquote>quote:[/size]
ST. LOUIS (TICKER) -- Kurt Warner captured the quarterback triple crown, but will not be able to talk about it this week.

The St. Louis Rams announced on Monday that Warner has been instructed by team physicians not to talk for seven days after sustaining a throat contusion during Sunday's season-ending win over the Atlanta Falcons.
[/quote]

Of course if this were to turn into something more serious, it's still not as important as Martin replacing Warner versus Frank Garcia having to replace McCollum?!?

Quiz appears to be more of a marketing ploy for neophytes to inspire controversy rather than any test of substance. [img]tongue.gif[/img]

buckeye · 01-07-2002, 09:12 PM

alec,

"Are you saying that the correct answer to the first question is not "A" according to Miller?"

All of the answers are "D", according to the original post, which coiincides with the article of Miller's I read on the "Winner pays the vig" nonsense.

"4. Professional-level sports bettors expect to win...
Also a strange question, I think."

I think this is a swipe at other touts claims of 70%+, which he is right about. But it is also trying to self-promote by saying his sights are set realistically. I have never paid a tout, but most say his picks absolutely suck as well!

"6. When laying 12 to win 10, winnings are shorted by approximately...
Compared to what? to 11/10?"

Compared to 12/12, or no vig, is my understanding of his question.

Some of these questions were very poorly conceived and worded. I do think some of his writings have some interesting and valid ideas. Some of his money management and parlay ideas are worth a look, but other ideas he has are phucked - like the vig thing. Though it has some fallacies, his article on binomial distribution patterns and sports betting is thought provoking and has some merit, IMHO!

JMHO