In this list there are books that have changed the view on sports betting. That bets are not just an accident, but they can be predicted with a certain precision and make a profit.

Joe Peta “Trading Bases”

This book is about the stock broker Joe Peta, who on his way to work was hit by car. After this incident, he became disabled and was fired from his job. Then he decides on the advice of friends to go into the world of sports betting. Joe was interested in baseball from an early age, so he chose this sport to place bets. He began to develop his sports model with the help of sabermetrics.

The main idea of ​​the book is to develop a suitable model for sports betting you need to have knowledge of several disciplines. Joe had experience working on the stock exchange, so he applied knowledge in finance, sabermetrics, baseball, statistics and the basics of mathematics to build a model that produced a good result. Also in the book it is described that sports bets should be viewed not as entertainment, but as long-term investments.

In this book, you can learn the basics of professional betting, the knowledge that you need to consider to build a successful model and consider sports betting in the context of financial markets.

Nassim Nicholas Taleb “Fooled by Randomness”

In the book the question of probabilities in our life is deeply revealed. That people without special knowledge and skills do not understand such a thing as “randomness” and random results are perceived as patterns.

The author also mentions the “survivorship bias”. Indicates that people see only “winners”, forgetting about the losers who have not reached their goal.

How does this book deal with sports betting? The fact that ordinary players do not understand the significance of probabilities and perceive their random victories as patterns. And the probability of this is the odds in the bookmakers, to which you place bets and expect to make a profit. Without bookmaker coefficients, you will not build a successful model.

Nate Silver “The signal and the noise”

Another book on the construction of mathematical models using the theory of probability and statistics. Basically, the author considers forecasts for elections, weather, poker, baseball. Explores how well the weather forecast is and whether they respond to reality. Describes common problems in predictions. He also notes that we live in the era of “information reset” and it is very difficult to filter what needs to be taken into account in the model. It indicates in the book that a practical statistician before developing a mathematical model must have in-depth knowledge about the field that needs to be analyzed.

Much attention is paid to the “Bayesian approach,” which developed a simple formula for updating probabilities. At Pinnacle Sports under the heading “betting resources” there is an article about the “Bayesian approach” with an example of a team, how its results change during it rains.

This book will give you a deeper understanding of the construction of a predictive model for sports and describes the problems in their development.

Daniel Kahneman “Think, Fast and Slow”

The author makes the main emphasis of the book on the fact that the human psyche is divided into 2 systems. System 1 is triggered automatically, with little or no effort. System 2 pays attention, which is necessary for conscious mental efforts, here you can include analytics and other calculations. This book is the most difficult of all listed, but it reveals the essence of our psyche and influences us in making decisions.

In the book there are a lot of studies that explain the decision-making by a person, under the influence of various factors. I will not describe them all here, the author opened them deeply, so read them.

Let’s draw parallels with the sports betting. From these articles it follows that system 1 will make a decision, put on a team that you have more heard about or know about. For example: match Brighton – Manchester United. System 1 indicates that you bet on MU, because your brain has more information about this titled club thanks to the media. System 2 you would apply then, if you developed your model and took into account all the factors that may be in this match. And if your probabilities were on the side of Brighton, then you would place a bet on them. This match ended 3-2 in favor of Brighton.

I recommend reading this book, although it is heavy, but it will definitely help you when placing bets on sports. Develop your analytical skills (system 2) so that your system 1 does not prevent you for making the right decision.

 

Wilson Rag Perumal “Kelong Kings”

The last book in this list is about fixed matches. I took this book for an inspection because there are so many scammers on the internet who sell such matches. After reading it, you will understand that only those people who organize it, makes bets on this matches. There are no fixed matches in the network. Forget about it.

The book describes the history of the Singaporean, which shows the market of fixed matches in world football. In fact, this is his autobiography. In general, an interesting book is read easily. In this book there is nothing about the development of mathematical models for sports and does not describe the rational behavior of the gamblers.

Conclusion

I will not take into account the book about fixed matches. The other four books are quite difficult to get to know. But having read them, you will get the necessary knowledge and understand what you need to do in order to get good investments on a long-term basis at sports betting.

When you get all the necessary knowledge, the bookmakers will definitely block or set limits to your account. For professional betting, use Pinnacle Sports.