Betting Talk

Positive/negative variance

HavanaHavana Senior Member
edited June 2012 in Sports Betting
Goats, would you kindly repost your comments regarding "positive/negative variance".
Thank You

Comments

  • GoatsGoats Head Moderator
    edited June 2012
    Can you be more specific? Are you just looking for a definition?
  • HavanaHavana Senior Member
    edited June 2012
    Goats, after reading several of your explanations I looked it up on the internet. "positive variance in gambling". However, as I recall your comments were fairly short and accurate. I should have saved them! Should you decide, for any reason, not to republish or restate, this would still be respected by me.
  • GoatsGoats Head Moderator
    edited June 2012
    Not sure if that was a "yes" but I'll assume you just wanted a short explanation (if not, let me know)...

    In short, variance just refers to the streaks (both positive and negative) in a set of results on the way to reaching the long-term expected win %.

    I'm guessing the posts you mentioned were in response to a comment about being "hot" or "cold" or something else dealing with streaks. The average gambler looks at winning and losing streaks and thinks there is some reason behind them and/or that they can jump on/off based on these short term streaks... but the reality is that streaks are almost always just random short term results and neither their beginning nor end can be predicted ahead of time... i.e. it's just variance.

    Hope that helps.
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