Why the "House Always Wins." Simulate a year of sports betting and see the math behind the losses.
Team A to win (52.4% chance)
Player B over 20 points (52.4% chance)
Team C spread -3.5 (52.4% chance)
Why sports betting is wealth extraction, not investing.
Sportsbooks charge a fee (vig) on every bet. To break even on -110 bets, you need to win 52.4% of the time. Most people hit 50% long-term.
Parlays multiply your risk. Hitting three 50/50 outcomes in a row only happens 12.5% of the time, but the payout rarely reflects the true risk.
Betting apps target young adults with "risk-free" bets to get them hooked. It's selling false hope to people who need real money.