A betting strategy (also known as betting system) is a structured approach to

gambling Gambling (also known as betting or gaming) is the wagering of something of value ("the stakes") on a random event with the intent of winning something else of value, where instances of strategy are discounted. Gambling thus requires three el ...

, in the attempt to produce a profit. To be successful, the system must change the

house edge Games available in most casinos are commonly called casino games. In a casino game, the players gamble cash or casino chips on various possible random outcomes or combinations of outcomes. Casino games are also available in online casinos, whe ...

into a player advantage — which is impossible for pure games of probability with fixed odds, akin to a perpetual motion machine. Betting systems are often predicated on statistical analysis. Mathematically, no betting system can alter long-term expected results in a game with random, independent trials, although they can make for higher odds of short-term winning at the cost of increased risk, and are an enjoyable gambling experience for some people. Strategies which take into account the changing odds that exist in some games (e.g.

card counting Card counting is a blackjack strategy used to determine whether the player or the dealer has an advantage on the next hand. Card counters are advantage players who try to overcome the casino house edge by keeping a running count of high and low ...

and handicapping), can alter long-term results. This is formally stated by game theorist Richard Arnold Epstein in ''The Theory of Gambling and Statistical Logic'' as:

Examples

Common betting systems include: *

Card game A card game is any game using playing cards as the primary device with which the game is played, be they traditional or game-specific. Countless card games exist, including families of related games (such as poker). A small number of card ga ...

s –

Card counting Card counting is a blackjack strategy used to determine whether the player or the dealer has an advantage on the next hand. Card counters are advantage players who try to overcome the casino house edge by keeping a running count of high and low ...

* Roulette – Martingale *

Sport Sport pertains to any form of competitive physical activity or game that aims to use, maintain, or improve physical ability and skills while providing enjoyment to participants and, in some cases, entertainment to spectators. Sports can, ...

s – Handicapping * Martingale * Kelly criterion * Split martingale *

Anti-martingale A martingale is a class of betting strategies that originated from and were popular in 18th-century France. The simplest of these strategies was designed for a game in which the gambler wins the stake if a coin comes up heads and loses if it co ...

* d'Alembert system *

Oscar's grind Oscar's Grind is a betting strategy used by gamblers on wagers where the outcome is evenly distributed between two results of equal value (like flipping a coin). It is an archetypal positive progression strategy. It is also called Hoyle's Press. ...

Horse racing

Some Horse racing betting systems can be based on pure statistical analysis of the odds, while others also analysis of physical factors (e.g. the horses' form, jockey form and lane draw). Common forms of betting systems for horse racing are: * hedging- betting on multiple outcomes in a race * arbitrage- lay the horse a low price and back it at a high price

References

{{Gambling Strategy

Examples

Horse racing

See also

References