This week the World Series of Poker 2021 started up. If circumstances were different, I would have liked to have gone. It’s been 15 years since I first went, and I’ve met and been beaten by many amazing people out there. Every tournament I played in, I felt I had an edge (and I’m pretty sure I was right). And yet I never cashed, let alone won. The variance got to me. After a few unlucky hands, the last of my chips were gone and I was out. I’m sure if they had let me borrow more chips from someone I could have made a comeback eventually, but that’s not how it works.
That’s not how it works in sports betting, either. In fact, even if you don’t go broke, every loss you take sets you back farther than the gains of every win. That’s how the math works. It’s a tough pill to swallow, even for the sharpest of gamblers, but sip on this article I wrote for the Pinnacle blog and see if you can make heads or tails of it.