How often do favourites win? Is your betting strategy just lucky?
I see a lot of people who are betting or trading who have no idea if they have a valid strategy or have just been lucky. These are no betting experts, in fact they may have just been very lucky!
Profitable betting and trading is the goal of many people. But the variability you see when betting or trading can often just be down to luck. Or to put it more precisely, the variability in the underlying strategy.
I actually measure ‘luck’ on a daily basis and you often see me posting these charts on social media and on our forum.
They measure the underlying rate that something is happening. This is important to know as in any betting or trading strategy on the Betfair exchange or similar platforms you need some measure as to whether you are outperforming the average or not.
Let me explain in this video.