Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
My goal is to focus on the sports you love, on the
most accessible analysis methods, and on topics that I believe are the most
underserved in libraries and bookstores today. If your “thing” is water polo or
frog-jumping, or a sport or bet not covered in this book, I wish you much success,
and I admit I won’t have much to add. So here are the topics that will either be lightly covered or downright ignored:
»
» Pari-mutuel betting (horse and dog racing, jai alai)
»
» Season-long fantasy sports
»
» Prediction markets (like betting on the Oscars or election results)
»
» Office pools (I will talk about placing bets on the Super Bowl and March
Madness, but the focus will be on wagering, not winning goofy office
contests.)
»
» E-sports
»
» Daily fantasy sports
The sports I’ve selected for t

CURRENT SUMMARY:
My goal is to focus on the sports you love, on the
most accessible analysis methods, and on topics that I believe are the most
underserved in libraries and bookstores today. If your “thing” is water polo or
frog-jumping, or a sport or bet not covered in this book, I wish you much success,
and I admit I won’t have much to add.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Alright, so I'm trying to help someone refine a knowledge card for a sports betting document based on the latest query. The user has provided an excerpt and wants the most important information extrac


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
So here are the topics that will either be lightly covered or downright ignored:
»
» Pari-mutuel betting (horse and dog racing, jai alai)
»
» Season-long fantasy sports
»
» Prediction markets (like betting on the Oscars or election results)
»
» Office pools (I will talk about placing bets on the Super Bowl and March
Madness, but the focus will be on wagering, not winning goofy office
contests.)
»
» E-sports
»
» Daily fantasy sports
The sports I’ve selected for this book are the ones most appealing to American and
fans and bettors. If you’re not a resident of North America, there is plenty in this
book to help grow your understanding of sports betting in general and your
approach to assessing and placing bets. But beware that if you have a specific
sport you want to see addressed and

CURRENT SUMMARY:
So here are the topics that will either be lightly covered or downright ignored:
»
» Pari-mutuel betting (horse and dog racing, jai alai)
»
» Season-long fantasy sports
»
» Prediction markets (like betting on the Oscars or election results)
»
» Office pools (I will talk about placing bets on the Super Bowl and March
Madness, but the focus will be on wagering, not winning goofy office
contests.)

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Alright, so I'm trying to help someone refine a knowledge card for a sports betting document. They've provided an excerpt and want the most important information extracted and formatted into a structu


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
But beware that if you have a specific
sport you want to see addressed and it’s not a sport that’s terribly popular in
North America, do yourself a favor and check the table of contents before embarking on this journey. I have no doubt that soccer, hockey, cricket, darts, handball,
billiards, and bicycle racing are enthralling sports to watch and bet on, and I
believe there are applicable lessons herein, but I’m sorry to say that I will not be
specifically addressing those endeavors.

CURRENT SUMMARY:
But beware that if you have a specific
sport you want to see addressed and it’s not a sport that’s terribly popular in
North America, do yourself a favor and check the table of contents before embarking on this journey. I have no doubt that soccer, hockey, cricket, darts, handball,
billiards, and bicycle racing are enthralling sports to watch and bet on, and I
believe there are applicable less

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Alright, so I need to help someone refine a knowledge card for a sports betting document based on the latest query. The user has provided an excerpt and wants the most important information extracted


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
Foolish Assumptions
I can picture you, dear reader, reading this book. It was actually quite easy: When
you ordered the book, your Alexa contacted my Alexa and told me everything
about you. Here’s what she told me, and here’s the starting point for the book:
»
» You’re probably a dude. Research says when it comes to gambling activities,
women prefer games based on luck, and men prefer games where skill is
involved. It’s a control thing. Given how much luck is involved in winning
sports bets, you ladies should really give this hobby another look-see. This is a
fun hobby, and if you’re a person of the female persuasion, I’d like to offer a
non-threatening platonic high-five welcoming you aboard. We could use more
gender equality in terms of the bettors and so-called celebrity experts

CURRENT SUMMARY:
Foolish Assumptions
I can picture you, dear reader, reading this book. It was actually quite easy: When
you ordered the book, your Alexa contacted my Alexa and told me everything
about you.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Okay, so I'm trying to help someone refine a knowledge card for a sports betting document based on the latest query. The user has provided an excerpt and wants the most important information extracted


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
We could use more
gender equality in terms of the bettors and so-called celebrity experts.
»
» There’s a distinct possibility that you are an avid fan of at least one major
team sport; you might own a jersey with a spoiled millionaire’s name on the
back. If the team’s any good, when their games are on TV, you cancel all plans,
turn on your email “out of office” notification, and ask your significant other to
find something else to do.
»
» Let’s not kid each other. If you’re a North American, you love either college
or pro football. You might gripe about somebody taking a knee during the
anthem, but you’re not gonna stop watching. And you likely have a secondary
sport like baseball or golf that you’ll watch as well. This book will devote a lot
of pages to winning football bets beca

CURRENT SUMMARY:
We could use more
gender equality in terms of the bettors and so-called celebrity experts. »
» There’s a distinct possibility that you are an avid fan of at least one major
team sport; you might own a jersey with a spoiled millionaire’s name on the
back.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Alright, so I'm trying to help someone refine a knowledge card for a sports betting document. They've provided an excerpt and want the most important information extracted and formatted into a structu


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
That’s a good skill set to bring to the table. My guess is you get a
little frustrated with the over-random nature of fantasy sports, which makes
sports betting appealing to you.
»
» I’d be willing to, er, bet, that you don’t have a moral objection to gambling. You
might even have a friend who regularly places bets, and you’d like to be able
to converse intelligently about sports betting with him or her.
»
» For sports you’re less enthusiastic about, maybe it’s tennis or baseball, you
know, or at least suspect, that your level of fan intensity will rise exponentially
if you have a dollar riding on the outcome. You’ve discovered the secret joy of
sports betting (which is that a $1 wager can turn basket-weaving into the last
episode of The Sopranos).
»
» If you have some familiarity

CURRENT SUMMARY:
That’s a good skill set to bring to the table. My guess is you get a
little frustrated with the over-random nature of fantasy sports, which makes
sports betting appealing to you.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Alright, so I'm trying to help someone refine a knowledge card for a sports betting document based on the latest query. The user has provided an excerpt and wants the most important information extrac


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
You’ve discovered the secret joy of
sports betting (which is that a $1 wager can turn basket-weaving into the last
episode of The Sopranos).
»
» If you have some familiarity with the art and science of sports betting, you
know there’s more to learn, and you want to learn enough to keep your
head above water. You don’t mind losing a few bucks, but you’d rather win
a few bucks. Introduction      5
»
» If you are a regular sports bettor, you are looking for ways to bump up your
winning percentage, or maybe you just want to expand your horizons and dig
into more detail about sports you might not normally watch or bet on. Icons Used in This Book
The icons are like little signposts to help readers recognize when critical information is about to come their way. If you see this icon, I’m gi

CURRENT SUMMARY:
You’ve discovered the secret joy of
sports betting (which is that a $1 wager can turn basket-weaving into the last
episode of The Sopranos). »
» If you have some familiarity with the art and science of sports betting, you
know there’s more to learn, and you want to learn enough to keep your
head above water.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Alright, so I'm trying to help someone refine a knowledge card for a sports betting document based on the latest query. The user has provided an excerpt and wants the most important information extrac


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
There are all kinds of pitfalls when it comes to gambling in general and with
sports betting in particular. If they can be summarized neatly and succinctly, I’ll
put this icon next to them so that you can avoid having something explode in
your face. This book is full of facts and concepts that you’ll want to commit to memory, so
you’ll see this icon next to those paragraphs. Beyond the Book
This book comes with a free online Cheat Sheet that gives you some simple
reminders of sports betting tenets, definitions, and even some standard odds you
should keep in mind when you bet. To get this Cheat Sheet, simply go to www.dummies.com and enter “Sports Betting
For Dummies Cheat Sheet” in the Search box. Where to Go from Here
If you’re starting from scratch, and you don’t know how sports b

CURRENT SUMMARY:
There are all kinds of pitfalls when it comes to gambling in general and with
sports betting in particular. If they can be summarized neatly and succinctly, I’ll
put this icon next to them so that you can avoid having something explode in
your face.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Okay, so I need to help refine a knowledge card for a sports betting document based on the latest query. The user has provided an excerpt and wants the most important information extracted and formatt


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
Get off to a fast start with sports betting by learning the
essentials: how it works, why it’s so popular, and what
the law says about it. Get a feel for the mechanics of a sports bet and learn
some key terminology you’ll need to know to move
forward. Assess yourself as a sports bettor and set some realistic
goals for yourself. If you need a refresher, read up on the most popular bet
types so you can bet like a pro in no time. Dip your toe into the basics of betting math and
probability. Get to know the organizations that post the odds and
take your bets, and discover how to make your first
sports bet. CHAPTER 1  Betting Sports for Fun and Profit      9
Chapter 1
Betting Sports for
Fun and Profit
I

n some ways, sports betting is quite simple. You think one team is better than

CURRENT SUMMARY:
Get off to a fast start with sports betting by learning the
essentials: how it works, why it’s so popular, and what
the law says about it. Get a feel for the mechanics of a sports bet and learn
some key terminology you’ll need to know to move
forward.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Alright, so I'm trying to help someone refine a knowledge card for a sports betting document. The user has provided an excerpt and wants the most important information extracted and formatted into a s


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
But hidden beneath that easy-to-understand crust is the mantle of harder-to-
grasp unpleasant truths. Lots of people lose lots of money at this endeavor. There
are a million ways to bet. Your brain can sometimes be your worst enemy when it
comes to betting. Once you start betting, it’s hard to tell if you’re any good at it. And there’s the one undeniable truth that is so easy to forget: Teams do wacky,
unpredictable things to confound every sensible prediction and make bettors pull
their hair out. That last truth is the first one I want to discuss. Because teams behaving in
strange, unpredictable ways is something I experienced personally many years
ago, and one game in particular started a fascination with this hobby that hasn’t
abated. It took place in October 1989. While the wor

CURRENT SUMMARY:
But hidden beneath that easy-to-understand crust is the mantle of harder-to-
grasp unpleasant truths. Lots of people lose lots of money at this endeavor.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Alright, so I'm trying to help someone refine a knowledge card for a sports betting document. The user has provided a specific excerpt and wants the most important information extracted and formatted


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
Eight Days in October
Naturally it was Friday the 13th. I looked it up recently: Friday, October 13, 1989. I was a senior in high school and a proud member of the Grapevine High School
varsity football team in Texas. I was the complete package: slow, weak, undersized, with almost a complete lack of athletic talent. Lucky for everyone involved,
the coaches were wise enough to keep me far from the field on gameday. But that
gave me a great vantage point for what was about to happen. A surprise win
Memory is tricky, but here’s my version of the events: The Grapevine Mustangs
were 3–3 with 4 games left in the season and an outside chance at a playoff berth. Coach Snead, who would go on to win two state championships, had been telling
us all week that we were better than our record indicat

CURRENT SUMMARY:
Eight Days in October
Naturally it was Friday the 13th. I looked it up recently: Friday, October 13, 1989.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Alright, let me try to figure out what the user is asking for here. They provided a conversation history where they were refining a knowledge card for a sports betting document. Each time, they presen


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
These guys were King
Kong. They kicked our asses every year. In 1989, they were undefeated, well
coached, confident, and clearly outmatched us at every position. Their quarterback was even dating the homecoming queen from our high school. Our goal was
to avoid complete embarrassment. Winning wasn’t a thought in our minds. But it was Friday the 13th, after all. Strange things happened. On the opening drive
of the game, the Trinity quarterback faked a handoff to the dive back, reversepivoted on the bootleg and ran smack into not one of our players but the referee,
fumbling away the football. That lucky break was followed by another, and before
we knew it, we were ahead. Then the guys actually started to play well — really
well. We uncharacteristically caught every ball and made every

CURRENT SUMMARY:
These guys were King
Kong. They kicked our asses every year.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Alright, so I'm trying to help someone refine a knowledge card for a sports betting document based on the latest query. The user has provided a specific excerpt and wants the most important informatio


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
It was like Bishop Pickering’s miracle golf
round in the rain in Caddyshack. And when the final whistle blew, we had beaten
the gorilla by a gaudy 53–7 score.
53–7? The team, the fans, and even coach Snead were in shock. Victory’s revenge
So we did what teenagers do: We celebrated. Starting with the dogpile on the field
at the end of the game, to the bus ride home, into the weekend. We just finally
figured it out, right? We must be way better than we thought we were all along. There were so many broken arms from patting ourselves on the back that the
training staff had to order more slings. CHAPTER 1  Betting Sports for Fun and Profit      11
You can probably tell where this is going. Our midseason celebration ended about three seconds after the opening whistle of
the following week’

CURRENT SUMMARY:
It was like Bishop Pickering’s miracle golf
round in the rain in Caddyshack. And when the final whistle blew, we had beaten
the gorilla by a gaudy 53–7 score.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Alright, so I'm trying to help someone refine a knowledge card for a sports betting document. The user has provided a specific excerpt and wants the most important information extracted and formatted


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
In our 53-to-7 euphoria, we forgot we had to, you know, show up and play in the
last three games of the season. The cliché fairy summarily revoked our “David
Beats Goliath” status and put us into “Chickens Coming Home to Roost” mode. We looked like the Bad News Bears (from the early part of the movie, not later on
when they went to the Astrodome and Walter Mathau starting believing in them). We were lazy and sloppy in every aspect of the game, just as we had been in practice all week, and lost that game to an “inferior“ opponent. Playoff dream: dashed. But in retrospect, there was something totally inevitable about that eight-day
roller-coaster that ended in that ignominious crash-and-burn. We “overlearned”
from the positive outcome of one week and formed a collective illusion that we

CURRENT SUMMARY:
In our 53-to-7 euphoria, we forgot we had to, you know, show up and play in the
last three games of the season. The cliché fairy summarily revoked our “David
Beats Goliath” status and put us into “Chickens Coming Home to Roost” mode.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Alright, so I'm trying to help someone refine a knowledge card for a sports betting document. The user has provided a specific excerpt and wants the most important information extracted and formatted


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
It wasn’t the fault of any single player or a
coach; it was something that emanated from within every member of the team. We had just a little less focus in practice than normal. We were late getting to our
spots. We ran a little slower; we cadillacked our way through the toughest drills. We held each other less accountable in practice as if we all had a tattoo that said
“It’s all good . . . we beat Trinity 53–7.”
My acne-splotched, mullet-topped team in 1989 could have won the state
championship if we played every game like we did the night of October 13, and
with the same level of measurable talent and the same coaches, ten repeats of our
October 20 performance would have led to a winless season. Finding profit in the roller coaster
In college, I got interested in sports betting,

CURRENT SUMMARY:
It wasn’t the fault of any single player or a
coach; it was something that emanated from within every member of the team. We had just a little less focus in practice than normal.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Alright, let me try to figure out how to approach this. The user has provided a detailed thought process from a previous interaction where they were refining a knowledge card for a sports betting docu


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
We held each other less accountable in practice as if we all had a tattoo that said
“It’s all good . . . we beat Trinity 53–7.”
My acne-splotched, mullet-topped team in 1989 could have won the state
championship if we played every game like we did the night of October 13, and
with the same level of measurable talent and the same coaches, ten repeats of our
October 20 performance would have led to a winless season. Finding profit in the roller coaster
In college, I got interested in sports betting, and I did so with the lessons of
October 1989 firmly in my mind: Not the lesson where freedom triumphs over
tyranny in Eastern Europe, but that talent and measurable attributes only determine part of what happens on the field of play. A team’s personality can vary wildly from one week to t

CURRENT SUMMARY:
We held each other less accountable in practice as if we all had a tattoo that said
“It’s all good . we beat Trinity 53–7.”
My acne-splotched, mullet-topped team in 1989 could have won the state
championship if we played every game like we did the night of October 13, and
with the same level of measurable talent and the same coaches, ten repeats of our
October 20 performance would have led to

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Okay, so I'm trying to help refine a knowledge card for a sports betting document based on the provided excerpt. Let me start by reading through the excerpt carefully to understand the key points.

Th


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
They react to things that happen to them. And while none of those
things are easily measurable, they can show up at game time, in the same way that
the 1989 Grapevine Mustangs reacted to their big win, and lay an egg. And so for three decades, I’ve looked for, and sometimes found, those patterns
across sports. My approach to sports betting is based on the essential premise that
people and teams react predictably to events like winning, losing, surprise, disappointment, travel, breaks, and so on. From that basic proposition, I’ve added a

CURRENT SUMMARY:
They react to things that happen to them. And while none of those
things are easily measurable, they can show up at game time, in the same way that
the 1989 Grapevine Mustangs reacted to their big win, and lay an egg.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Alright, I'm trying to understand this sports betting knowledge card. The excerpt talks about how teams react to things that happen to them, like wins or losses, and these reactions can show up at gam


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
little bit of mathematical rigor, some knowledge about the forces that push and
pull betting markets, and an appreciation for the value of other approaches to the
craft, whether it’s information-based, stats-based, or something in between. Today more than ever, the truth is out there and only a click or two away. I spent
countless hours creating a database of sports scores and statistics from scratch on
my ancient computer. That same information that I painstakingly collected is
available today from dozens of web resources. Today’s bettor can take advantage
of astonishing quantities of detailed, esoteric historical sports data. And for the
more enthusiastic gamblers, tools are out there to study and bet on any pattern
they can dream up. If you’re a fan of a given sport and can matc

CURRENT SUMMARY:
little bit of mathematical rigor, some knowledge about the forces that push and
pull betting markets, and an appreciation for the value of other approaches to the
craft, whether it’s information-based, stats-based, or something in between. Today more than ever, the truth is out there and only a click or two away.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Alright, so I need to help refine a knowledge card for a sports betting document. The user has provided a specific excerpt and a current summary, and they want it improved following a set format.

Fi


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
If you’re a fan of a given sport and can match team patterns with analyses of personnel and schemes, all the better. There are two basic approaches to picking
winners: numbers driven, or technical analysis, and information driven, or fundamental analysis. There is no one formula for success. What makes it fun and
challenging is that you’ll mix cold, hard facts with touchy-feely interpretations of
human behavior. You’ll need computer power as much as you’ll need the coach’s
chalkboard and the psychiatrist’s couch. You’ll want to read Turing, Lombardi,
and Freud. Do Sports Bettors Win? Is this a trick question? If not, the answer is: Some do; some don’t. If you’re familiar with betting on table games at the casino, you know in the long
run, you’ll lose. The probabilities associated wit

CURRENT SUMMARY:
If you’re a fan of a given sport and can match team patterns with analyses of personnel and schemes, all the better. There are two basic approaches to picking
winners: numbers driven, or technical analysis, and information driven, or fundamental analysis.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Alright, so I'm trying to understand this knowledge card about sports betting. It's a bit dense, but I'll take it step by step. The summary says it's about sports betting, so I guess that's the main p


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
The probabilities associated with cards, dice, and the little
bouncing ball on the roulette wheel mean the aggregate outcome is not in doubt. Narrow your focus to a single lucky person, or a single weekend in Las Vegas, or a
crazy craps table, and it seems like there are winners everywhere. But the math
makes it a physical certainty that the more people play, the longer they play, the
more certain it is the gamblers are going down. But sports betting is different. The sports bettor reads a menu of available bets at
the bookmaker and decides whether or not to risk some of his bankroll on a certain outcome. The bookmaker makes predictions on games too, but they can’t
read the future. Short of doing something the casinos would frown upon, the greatest blackjack,
craps, and roulette pla

CURRENT SUMMARY:
The probabilities associated with cards, dice, and the little
bouncing ball on the roulette wheel mean the aggregate outcome is not in doubt. Narrow your focus to a single lucky person, or a single weekend in Las Vegas, or a
crazy craps table, and it seems like there are winners everywhere.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Okay, so I'm trying to understand this knowledge card about sports betting. It starts by talking about probabilities in casino games like cards, dice, and roulette. It says that in these games, the ou


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
Stanford Wong has made a name for himself through books, newsletters, software, and the Internet. He loves to solve puzzles. Of course he has done his share of winning at gambling games. When he was in graduate school, playing blackjack was his major source of
income, and he stayed in school long enough to earn a Ph.D. from Stanford. He published his first book, Professional Blackjack, in 1975 while a
student at Stanford. Wong is a frequent contributor to the message boards on his website, BJ21.com, which is devoted to discussion of getting an edge at casino
games. Table of Contents

CURRENT SUMMARY:
Stanford Wong has made a name for himself through books, newsletters, software, and the Internet. He loves to solve puzzles.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Alright, so I'm trying to understand this knowledge card about sports betting. It starts by introducing Stanford Wong, someone who's made a name for himself through various means like books, newslette


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
Early drafts of this book were posted chapter by chapter on BJ21.com. Comments made by BJ21.com’s green chippers have been
incorporated into the final version of the book. Sharp Sports Betting is a better book because of that feedback. That process allowed the book to
be finished more quickly than would have been the case had draft chapters not been posted to the Internet. If you write a book of your own, I
heartily recommend posting it on the Internet chapter by chapter as you are writing it. Don Schlesinger has been most helpful in improving the manuscript. David Matthews wrote the first draft of chapter 3, “Betting Sports on the Internet,” and helped edit the whole book. That chapter was revised
for the 2006 edition with the help of Goats and Eddie Dingle. Some of the tables in this boo

CURRENT SUMMARY:
Early drafts of this book were posted chapter by chapter on BJ21.com. Comments made by BJ21.com’s green chippers have been
incorporated into the final version of the book.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Alright, so I'm trying to understand this knowledge card about sports betting. It mentions a book called "Sharp Sports Betting" and talks about the process of writing it. The author posted early draft


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
Sharp Sports Betting is a tool for those interested in winning money at sports betting. This book explains the most common sports bets, what
all the numbers mean, and the mathematics behind the numbers. Sports bettors have their own lingo. If you are new to sports betting, you will appreciate the glossary at the back of the book. The first half of the book contains general information about betting that applies to all sports. The last half of the book has information specific
to the National Football League. This book is not a get-rich-quick vehicle. If you are looking for a magic formula in which you input data and grind out numbers that will tell you
who will win tomorrow’s games, you might be disappointed in this book. But if you are facing two different ways to bet the same team, you m

CURRENT SUMMARY:
Sharp Sports Betting is a tool for those interested in winning money at sports betting. This book explains the most common sports bets, what
all the numbers mean, and the mathematics behind the numbers.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Alright, so I'm trying to understand this knowledge card about sports betting. The excerpt talks about a book called "Sharp Sports Betting" which is a tool for those interested in winning money at spo


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
The advice in this book will help you find worthwhile sports bets, but don’t quit your job to become a full-time sports bettor. Where to Bet Sports
Sports betting is one of the more popular ways to gamble. In the United States, at the time of this writing, betting on sports is legal only in the
sportsbooks of Nevada, in the Oregon lottery, and on Florida cruise ships once they get three miles out. Outside of the United States, betting on sports is legal on the Internet and in many countries. It is legal in Mexico, and some Mexican
sportsbooks are located within walking distance of the US border. Betting on sports enjoys the reputation of being well regulated in Great Britain
and Australia. Which Sports? The most common way to bet football is against the spread. Think of the spread as being

CURRENT SUMMARY:
The advice in this book will help you find worthwhile sports bets, but don’t quit your job to become a full-time sports bettor. Where to Bet Sports
Sports betting is one of the more popular ways to gamble.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Alright, so I'm trying to understand this knowledge card about sports betting. The excerpt talks about a book that provides advice on finding worthwhile sports bets but advises readers not to quit the


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
Think of the spread as being a handicap, the number of points that must be
added to or subtracted from one team’s final score to induce bettors to back both teams. The most common terms for betting sports are -110, which means risking $110 in an attempt to win $100. You give the sportsbook $110
when you make your bet, and get a receipt with the details of your bet printed on it. If your team wins, you take that receipt back to the sportsbook
and receive $210 — your own $110 and the $100 you won. If your team loses, your receipt is worthless. If your team wins but you cannot find your
receipt, keep looking because without that receipt you will have difficulty getting paid. If you walk into a sportsbook, you will see a collection of numbers that at first may make no sense to you. But with so

CURRENT SUMMARY:
Think of the spread as being a handicap, the number of points that must be
added to or subtracted from one team’s final score to induce bettors to back both teams. The most common terms for betting sports are -110, which means risking $110 in an attempt to win $100.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Okay, I'm trying to understand this knowledge card about sports betting. The excerpt talks about the spread as a handicap and explains how it works. It also mentions common betting terms like -110, wh


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
With a bit of study, you will occasionally find a number that jumps out at you as being a good bet. The area where all the numbers are displayed is called a “board,” a term left over from the days when all the numbers were entered by hand
on wall boards. Nowadays electronic displays are more common than actual boards. The first thing to notice is that the display of numbers is organized by sport. Depending on the time of year, you may find a section of the
board devoted to NFL football, college football, major-league baseball, NBA basketball, college basketball, golf, auto racing, and probably more. Each sport has its own system of displaying possible bets. Generally there will be sheets of paper available with the various possible sports bets listed on them. In the event of differences be

CURRENT SUMMARY:
With a bit of study, you will occasionally find a number that jumps out at you as being a good bet. The area where all the numbers are displayed is called a “board,” a term left over from the days when all the numbers were entered by hand
on wall boards.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Alright, let's tackle this step by step. The user has provided a query where they're asking to refine a knowledge card for a sports betting document. The excerpt they've given is about understanding w


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
In the event of differences between the
odds listed on the sheets of paper and on the board, the board is more current. The odds on the sheets of paper were accurate when the sheets
were printed, but at best that was earlier in the day and it might have been several days ago. The main value of the sheets is to list all the bets by their unique numbers. You bet by number. You don’t say “Give me $100 on the
Yankees,” you say “Give me $100 on number 302” or whatever number is listed to the left of the Yankees on the sheet of paper and on the board. Football
Look closely at the football listings and you will find a lot of information. The teams are listed in pairs, and the bottom team by convention is
the home team. One of the teams will have a small number to the right of it, such as 3 or 5.5

CURRENT SUMMARY:
In the event of differences between the
odds listed on the sheets of paper and on the board, the board is more current. The odds on the sheets of paper were accurate when the sheets
were printed, but at best that was earlier in the day and it might have been several days ago.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Alright, so I'm trying to understand this knowledge card about sports betting. The excerpt talks about differences between odds listed on sheets of paper and on a board, with the board being more curr


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
The smaller number is the spread and the larger number is the total. Experienced sports bettors know that, so there is no
reason to label them as “spread” and “total” on the board. As stated above, the number to the left of the team’s name is the unique number assigned to that team to avoid confusion when you bet. The number giving the spread will be next to the team that is the favorite. That number is understood to be a negative number, though to save
space the board might have eliminated the negative signs. The number giving the total will be next to the name of the underdog. Sometimes there will be a money line listed, and sometimes there will be no money line. Usually the money line is identified somehow as the
money line, perhaps with “M/L.” If there is a money line listed, it genera

CURRENT SUMMARY:
The smaller number is the spread and the larger number is the total. Experienced sports bettors know that, so there is no
reason to label them as “spread” and “total” on the board.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Okay, so I'm trying to understand this knowledge card about sports betting. The excerpt talks about the board displaying numbers related to bets, specifically mentioning that the smaller number is the


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
The most popular way to bet football is against the spread. When someone says he is betting the Bears, what he usually means is he is
betting on the Bears to cover the spread. If the Bears are favored by four points, then a bet on the Bears means Bears -4. If the Bears win by more
than four points, the bet wins. If the Bears win by fewer than four points or lose the game, then a bet on Bears -4 is a loser. If a game falls right on the spread, backers of both teams get their money back. That happened in a big way in Super Bowl XXXIV. The Rams
were favored by seven over the Titans, and the final score was Rams 23, Titans 16. Sportsbooks took in a lot of money that then had to be
refunded. Sometimes to save space, half points are shown as an apostrophe, called a hook. Thus Rams 5’ would mean

CURRENT SUMMARY:
The most popular way to bet football is against the spread. When someone says he is betting the Bears, what he usually means is he is
betting on the Bears to cover the spread.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Alright, so I'm trying to understand this knowledge card about sports betting. The excerpt talks about the most popular way to bet football, which is against the spread. It explains that when someone


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
Spreads on dogs are positive numbers. If you bet on a dog against the spread, you win your bet
if your team wins the game, and you also win your bet if your team loses the game but by less than the amount of the spread. The money lines are for bets on which team will win with no points given to either team. You might see, for example, Philadelphia Eagles

+160, New York Giants -180. There might also be numbers for betting spreads and totals for the first half of the game. If you watch the game in a sportsbook, at halftime
you will be presented with spreads and totals for betting the second half. Besides numbers for betting upcoming games, the boards sometimes also list odds for winning conference titles and division
championships. You can bet on which team is going to win the next Super Bo

CURRENT SUMMARY:
Spreads on dogs are positive numbers. If you bet on a dog against the spread, you win your bet
if your team wins the game, and you also win your bet if your team loses the game but by less than the amount of the spread.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Okay, so I'm trying to understand this knowledge card about sports betting. The excerpt talks about spreads on dogs, which are positive numbers. It says that if you bet on a dog against the spread, yo


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
Basketball
Basketball bets are arranged similarly to football bets. Each game has the visiting team on top and the home team on the bottom. The smaller
number to the right of a team name is the spread and is to the right of the favorite; the larger number is the total and is to the right of the dog. Basketball also has money lines; they are listed to the right of the spreads and totals. You can bet on which team is going to be the NBA Champion. Baseball
On most games, baseball does not use spreads. On baseball you bet money lines and totals. One thing unusual about baseball is that pitching dominates. When you bet on a baseball game, the usual procedure is for your bet to have
action only if both announced starting pitchers throw at least one pitch. If either or both announced starting pit

CURRENT SUMMARY:
Basketball
Basketball bets are arranged similarly to football bets. Each game has the visiting team on top and the home team on the bottom.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Alright, so I'm trying to understand this knowledge card about sports betting. The excerpt talks about basketball bets being similar to football bets. Each game has the visiting team on top and the ho


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
If either or both announced starting pitchers do not start the game, then all
bets on that game have no action. If you want your bet to have action even if there is a change in starting pitchers, then specify “action” as you are making your bet. If there is a
change of a starting pitcher, the terms of your bet will be changed to whatever the sportsbook establishes for the new pitcher. Here’s the way
Poker Palace explains it:
In the event of pitcher(s) change prior to the start of a baseball game, money odds may be adjusted. If one scheduled pitcher starts
against an unscheduled pitcher, “action” and live “one specified pitcher” wagers will be computed at the opening price established with the
new pitcher. So if you bet baseball and your team loses, check to be sure who were the starting pi

CURRENT SUMMARY:
If either or both announced starting pitchers do not start the game, then all
bets on that game have no action. If you want your bet to have action even if there is a change in starting pitchers, then specify “action” as you are making your bet.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Okay, I'm trying to understand this knowledge card about sports betting. The excerpt talks about baseball bets and the importance of starting pitchers. It says that if either or both starting pitchers


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
If you are betting on the Internet, on the total you might see a number with an “o” or a “u” after it, for example 9.5u or 9o. If there is a u, that
means the total is more likely to go under. If there is an o, that means the total is more likely to go over. If there is no o or u attached to the total, the terms are understood to be -110 whether you bet the over or under. If there is an o, meaning over
is more likely, then the terms for the over are -120 and the under is even money. If there is a u, meaning under is more likely, then the terms for the
over are even money and the under is -120. Baseball also has run lines on games in which one team is a big favorite. The run line typically adds 1.5 runs to one team or subtracts 1.5
runs from the other team. For example, if the line on the g

CURRENT SUMMARY:
If you are betting on the Internet, on the total you might see a number with an “o” or a “u” after it, for example 9.5u or 9o. If there is a u, that
means the total is more likely to go under.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Okay, so I'm trying to understand this knowledge card about sports betting. The excerpt talks about betting on totals in baseball games, specifically using "o" and "u" after the total number. It says


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
For example, if the line on the game is Padres +155, Rockies -170, the run line might be Padres +1.5 runs -110, Rockies
-1.5 runs -110. You can bet on which teams are going to be league champions, and which is going to win the World Series. Ice Hockey
On most games, ice hockey does not use spreads. You can bet the money line, and you can bet the total. If one team is a big favorite, then
the sportsbook might offer a puck line, for which the explanation is the same as for baseball’s run line above. Ice hockey totals use the same o/u system as does baseball. Golf
For a golf tournament you typically will find a long list of names and a number by each. The number is the odds to 1 of the corresponding
golfer’s winning the tournament specified. If you bet $100 on a golfer being offered at 12:1 a

CURRENT SUMMARY:
For example, if the line on the game is Padres +155, Rockies -170, the run line might be Padres +1.5 runs -110, Rockies
-1.5 runs -110. You can bet on which teams are going to be league champions, and which is going to win the World Series.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Alright, so I'm trying to understand this knowledge card about sports betting. The excerpt talks about different types of bets in various sports, like baseball, ice hockey, and golf. It mentions run l


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
If you bet $100 on a golfer being offered at 12:1 and your golfer wins the tournament, you will be able to
cash your ticket for $1300, which is the $1200 you won plus your $100 bet being returned to you. If your golfer does not win the tournament, your
$100 ticket is worthless. Often down at the bottom of the list of names there will be a golfer named Field. “Field” is not really a golfer. Field means all the rest of the
golfers except the ones who are listed individually. There will be an opportunity to bet the field only if there are more entrants in the tournament
than there are individual golfers with odds listed for them. Other sports use field bets also; they are not restricted to golf. You may also find golf matchups being offered. These are bets of one golfer against another. To wi

CURRENT SUMMARY:
If you bet $100 on a golfer being offered at 12:1 and your golfer wins the tournament, you will be able to
cash your ticket for $1300, which is the $1200 you won plus your $100 bet being returned to you. If your golfer does not win the tournament, your
$100 ticket is worthless.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Alright, so I'm trying to understand this knowledge card about sports betting. The excerpt is about golf betting, specifically how you can bet on individual golfers or the "field," which includes all


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
To win your bet, all your golfer has to do is beat
the player he is matched against. Generally both golfers must tee off for your bet to have action; if one or both golfers don’t make it to the first tee
of the first round, then bets on that match have no action and you get your money back. You may also find golf bets being taken on the next major, even though it might be weeks or months away. Other Sports
Sportsbooks show odds for almost any sport on which there is interest among bettors. Sporting events that involve two teams or individuals competing against each other, such as soccer, have a line for each team and perhaps a
line on the total. Sporting events in which there are a large number of individuals competing against one another, such as car racing and tennis, are shown on
the bo

CURRENT SUMMARY:
To win your bet, all your golfer has to do is beat
the player he is matched against. Generally both golfers must tee off for your bet to have action; if one or both golfers don’t make it to the first tee
of the first round, then bets on that match have no action and you get your money back.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Okay, so I'm trying to understand this knowledge card about sports betting. The excerpt talks about betting on golf matches between two players, where the goal is to see if one golfer beats another. I


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
Some individual participants are listed with odds, and all the rest of the participants are lumped together as
a field. You might find matchups pitting two participants against each other. In Nevada there generally are no bets taken on events that are decided by judges, such as figure skating or gymnastics. An exception is bets
are taken on boxing. On the Internet, you can bet on almost anything. How to Bet Sports
Odds frequently vary from sportsbook to sportsbook, so shop around. If you shop at least a dozen independent sportsbooks before making
your bet at the one with the best odds, the expected value of the tickets you cash will be around two percent higher than if you simply make your
bets at a random sportsbook. Two percent does not sound like much, but when your total action hits $1

CURRENT SUMMARY:
Some individual participants are listed with odds, and all the rest of the participants are lumped together as
a field. You might find matchups pitting two participants against each other.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Alright, I'm looking at this user's query and trying to figure out what they need. They provided a chunk of text from a sports betting document and a summary of it. The task is to refine a knowledge c


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
Look around for better terms. Some Las Vegas sportsbooks offer football bets at -105 during certain hours, instead of the normal -110. Being
able to bet at -105 instead of -110 is worth 2.2 percent on your action. Some Internet sportsbooks also offer bargain terms at certain times. Here is an example of the value of shopping around. During the 2000 World Series, Fremont in Las Vegas posted the next day’s baseball
game as Braves -122, Yanks +112. Meanwhile Plaza, just a block away, had Braves -135, Yanks +125. You could have bet the Yanks at the
Plaza and the Braves at Fremont and locked in a small profit. Unfortunately you can’t earn very many dollars per hour taking advantage of
arbitrage opportunities in Las Vegas. If you are making your sports bets by telephone, don’t disclose which tea

CURRENT SUMMARY:
Look around for better terms. Some Las Vegas sportsbooks offer football bets at -105 during certain hours, instead of the normal -110.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Alright, so I'm trying to understand this knowledge card about sports betting. The excerpt talks about shopping around for better terms, specifically mentioning that some Las Vegas sportsbooks offer f


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
If you are making your sports bets by telephone, don’t disclose which team you want until you hear the line. Say something like “What’s the
line on the Giants-Rams game?” rather than “What’s the line on the Giants?” Say “What’s the total?” rather than “What’s the number for the over?”
The reason is the clerk taking your call, knowing which team you favor, might move the line a half point against you. Multiple Max Bets
Each sportsbook has different max bets on different categories of bets. For example, the max bets on totals generally are lower than the max
bets on sides. A max bet means the maximum that the sportsbook will let you bet before reconsidering the line. If you make a max bet on a prop or on an
obscure game, your bet probably will cause the line to change. If after making a max

CURRENT SUMMARY:
If you are making your sports bets by telephone, don’t disclose which team you want until you hear the line. Say something like “What’s the
line on the Giants-Rams game?” rather than “What’s the line on the Giants?” Say “What’s the total?” rather than “What’s the number for the over?”
The reason is the clerk taking your call, knowing which team you favor, might move the line a half point against y

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Okay, so I'm trying to understand this knowledge card about sports betting. The excerpt talks about making bets by telephone and not disclosing which team you want until you hear the line. It suggests


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
If after making a max bet you stay there at the window and announce that you want to make another max bet on the same thing, you should
be allowed to do but perhaps only after the line is moved against you. If after making a max bet you walk away from the window, the line might or might not be changed. You can come back later and the line might
be the same as on your first max bet, and then you can make another max bet. Cashing Tickets
Cash each winning ticket within the time interval specified on the ticket. There is no logical reason why the value of a winning ticket should
fall to zero after an arbitrary amount of time has passed, but some Las Vegas sportsbooks have refused to honor tickets not cashed within a time
interval of their choosing. Bobby Bryde on Lost Tickets
All sportsbooks

CURRENT SUMMARY:
If after making a max bet you stay there at the window and announce that you want to make another max bet on the same thing, you should
be allowed to do but perhaps only after the line is moved against you. If after making a max bet you walk away from the window, the line might or might not be changed.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Alright, so I'm trying to understand this knowledge card about sports betting. The excerpt talks about something called a "max bet." It says that if you make a max bet and stay at the window, announci


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
Some books make you wait thirty or sixty days after the event is over, and if
no one has claimed the cash, the book pays up. That makes sense, since the book is supposed to pay the ticket anyway. Some directors
can, if you are a regular customer and a ticket writer recalls selling the ticket, pay right after the event. However it’s up to the director’s
discretion. This happens often, and occasionally to guys who rip up their tickets prior to an event being completed, thinking they’ve got no
shot, but end up with a miracle win. Backed Off? This question was posted on BJ21.com:
“Does anybody get backed off from sportsbooks? Does it get to the point where a book will refuse to take any more of your action?”
It’s common on the Internet; see chapter 3. From what I’ve read of how Nevada sportsbo

CURRENT SUMMARY:
Some books make you wait thirty or sixty days after the event is over, and if
no one has claimed the cash, the book pays up. That makes sense, since the book is supposed to pay the ticket anyway.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Okay, so I'm looking at this user's query about refining a knowledge card for sports betting. The user provided an excerpt from a sports betting document, and they want the most important information


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
From what I’ve read of how Nevada sportsbooks operate, I gather that each sportsbook has its own list of people who are not allowed to bet
sports. Many of the people on those lists are there due to having made huge bets while using inside information. That’s the main thing
sportsbooks seem to be afraid of — inside information. If a star college quarterback breaks his arm and you get the news before anyone else, you
have a large positive EV betting against his team. How frequently skillful handicappers that do not have inside information get barred I don’t know; I think it does happen but is rare. One easy but important thing you can do to minimize the possibility of having sports bets refused is be pleasant. Rude people wear out their
welcome faster than nice guys. Don’t be the type of per

CURRENT SUMMARY:
From what I’ve read of how Nevada sportsbooks operate, I gather that each sportsbook has its own list of people who are not allowed to bet
sports. Many of the people on those lists are there due to having made huge bets while using inside information.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Alright, so I'm trying to understand this knowledge card about sports betting. The excerpt talks about sportsbooks having lists of people who aren't allowed to bet sports. It mentions that many of the


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
Don’t be the type of person that others are looking for an excuse to kick out. The Rest of This Book
All the most popular types of sports bets are covered in this book: betting against the spread, the money line, totals, parlays, teasers, and
props. Chapter 2 discusses money management, which is how much to bet on a particular game. Chapter 3 is a discussion of betting sports on the Internet. Chapter 5 is devoted entirely to handicapping, and there are handicapping hints throughout the rest of the book as well. Several chapters are devoted to the application of mathematics to sports betting. This is my particular area of interest and expertise. Chapters 12-17 contain material specific to betting on NFL games. In the back of the book are appendixes used for evaluating props and a glossary o

CURRENT SUMMARY:
Don’t be the type of person that others are looking for an excuse to kick out. The Rest of This Book
All the most popular types of sports bets are covered in this book: betting against the spread, the money line, totals, parlays, teasers, and
props.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Alright, let me try to work through this step by step. The user has provided a series of interactions where they're refining knowledge cards for a sports betting document. Each time, they're presentin


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
Money management comes into play only when you have an edge, when your picks are good enough to overcome the sportsbook’s vig. I’m not saying don’t bet without an edge. Go ahead and bet if it brings pleasure to you, or if it enhances the enjoyment of watching the game. But in terms of what is mathematically optimal, if you have no edge then your optimal bet size is zero. So if you want to bet on Duke and the only reason is that you graduated from Duke yourself, then go ahead and bet for fun but accept the
reality that your bet cannot be justified mathematically. MinWin
If you are like me, you probably have a MinWin (minimum win size) in mind when you make a bet. There is no mathematical reason for a
MinWin, but nonetheless I have one. The paperwork required to keep track of every bet doesn

CURRENT SUMMARY:
Money management comes into play only when you have an edge, when your picks are good enough to overcome the sportsbook’s vig. I’m not saying don’t bet without an edge.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Alright, so I'm trying to understand this knowledge card about sports betting. The excerpt talks about money management and something called a MinWin. It says that money management only comes into pla


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
If the
bet wins I have to cash in the ticket, and the time required to drive to the sportsbook is the same no matter what the value of the ticket. I don’t want
to go through the hassle of recording a bet and cashing a ticket if the amount involved is only $10. It does not matter to me what your personal MinWin is, and likewise my personal MinWin should be no more than a matter of curiosity to you. This money-management discussion merely assumes that you have a personal MinWin. Maybe instead of MinWin, you have a standard bet size. Maybe every time you make a bet, it’s $110. If you like a game you bet $110 on it, to
try to win $100, and if you don’t like either side enough you don’t bet the game. If that describes you, your MinWin for purposes of this chapter is
$100. The reason for focusin

CURRENT SUMMARY:
If the
bet wins I have to cash in the ticket, and the time required to drive to the sportsbook is the same no matter what the value of the ticket. I don’t want
to go through the hassle of recording a bet and cashing a ticket if the amount involved is only $10.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Alright, so I'm trying to help refine this knowledge card about sports betting. The user has provided an excerpt and a summary, and now they want an improved version following a specific format.

Firs


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
The reason for focusing on a MinWin (of say $100) instead of a minimum bet size (of say $110) is to simplify the discussion of how much to
bet if the terms are other than -110. MinEdge
The important thing to keep in mind when betting sports is that mathematics justifies making a bet only when you have an edge. If you do not
have the expected value in your favor, then you are better off keeping your money in your pocket. You must have your own personal MinEdge (minimum-edge requirement) for making a bet. If you are leaning toward a team but do not think
it is likely enough to win to justify betting to win your MinWin, then you should pass on that bet. Most sports bettors who have mentioned the
subject of minimum edge on BJ21.com seem willing to wager with an edge as small as five percent. A

CURRENT SUMMARY:
The reason for focusing on a MinWin (of say $100) instead of a minimum bet size (of say $110) is to simplify the discussion of how much to
bet if the terms are other than -110. MinEdge
The important thing to keep in mind when betting sports is that mathematics justifies making a bet only when you have an edge.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Alright, so I'm trying to understand this knowledge card about sports betting. The excerpt talks about something called MinWin and MinEdge. It says that the reason for focusing on a MinWin instead of


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
Five percent edge is not a magic number. I suggest having a MinEdge of at least 2.5 percent, but there is nothing wrong with requiring a
MinEdge of greater than five percent. You must decide what is right for you. If your personal preference is to make a few large solid bets rather than a large number of smaller bets,
you might prefer a MinEdge of say ten percent on every sports bet you make. The higher your personal MinEdge for making a bet, the fewer bets
you will make. I suggest keeping careful records of all your bets so that you can look back and see how well your picks have done. The best measure of the
expected value of your picks is the ratio of your net winnings to your total bets. If you really are making bets each of which has X percent MinEdge
or more, then after a few hundred

CURRENT SUMMARY:
Five percent edge is not a magic number. I suggest having a MinEdge of at least 2.5 percent, but there is nothing wrong with requiring a
MinEdge of greater than five percent.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Alright, so I'm trying to understand this knowledge card about sports betting. The excerpt talks about something called MinEdge, which seems to be the minimum edge required to make a bet worthwhile. I


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
If you really are making bets each of which has X percent MinEdge
or more, then after a few hundred bets you ought to be able to add up your winnings and find that they are greater than that same X percent of
your total bets. The Argument for Flat Bets
Figuring out how much you have won or lost is easier if all your bets are identical, but that’s the only justification for betting the same amount
on every pick. There is no theoretical reason to restrict yourself to making the identical bet on every pick. Of course if you have the same confidence in all the picks you make, and none of them stands out as extra special, then you might as well
bet the same amount on every pick. The Argument for Varying Bets
There are two reasons for varying your bet size. One reason is the terms of the bet; if

CURRENT SUMMARY:
If you really are making bets each of which has X percent MinEdge
or more, then after a few hundred bets you ought to be able to add up your winnings and find that they are greater than that same X percent of
your total bets. The Argument for Flat Bets
Figuring out how much you have won or lost is easier if all your bets are identical, but that’s the only justification for betting the same amount

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Alright, I'm trying to understand this knowledge card about sports betting. The excerpt talks about something called MinEdge, which is the minimum edge required to make a bet worthwhile. It mentions t


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
The other reason you should vary your bet size is some bets are stronger than your MinEdge. You should want to bet more when you have a
bigger edge. Wanting to get even is not a valid reason for making a bigger bet. Your bet size should depend on the terms and your edge, and not how far
behind or ahead you are for the weekend. How the Terms Affect Bet Size
It’s not your bet size that should be held constant; it’s the dollar amount of your win. For all bets you find that you think give you your MinEdge, your optimal bet size is whatever you must bet in order to achieve your MinWin. If your MinWin is $100 and the terms are the standard -110, then bet $110 to try to win $100. If your MinWin is $100 and the terms are -160, then bet $160 to try to win $100. If your MinWin is $100 and the terms

CURRENT SUMMARY:
The other reason you should vary your bet size is some bets are stronger than your MinEdge. You should want to bet more when you have a
bigger edge.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Alright, so I'm trying to understand this knowledge card about sports betting. The excerpt talks about varying bet sizes based on the strength of the edge you have. It says that some bets have a bigge


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
If your MinWin is $100 and the odds are 20:1, then bet $5 to try to win $100. How Your Edge Affects Bet Size
If you are like me, you are constantly scrutinizing sides and totals and props, and whenever you think you have more than your MinEdge, you
make a bet. Occasionally a game will come along on which you believe you have a much larger edge. The mathematics justify betting more on
that pick than on picks where you have your MinEdge. Of course you have to be right. Not right in terms of winning that particular bet, but right in terms of assessing your actual edge. The best way
to be sure you really do win a high percentage of picks on which you think you have a larger edge is to keep separate track of those picks. One caution when keeping records: Be sure you identify each larger-edge pi

CURRENT SUMMARY:
If your MinWin is $100 and the odds are 20:1, then bet $5 to try to win $100. How Your Edge Affects Bet Size
If you are like me, you are constantly scrutinizing sides and totals and props, and whenever you think you have more than your MinEdge, you
make a bet.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Alright, so I'm trying to understand this knowledge card about sports betting. The excerpt talks about varying bet sizes based on the edge you have and the odds of the bet. It mentions that if your Mi


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
It’s not fair to wait until a game has
started (or is over) to decide how big an edge you thought you had on a pick. If you think you have a larger edge on a pick, write down that
prediction before the game starts. Then when you review your records to see how well your larger-edge picks did, look at the results for only the
picks that you wrote down as having a larger edge before the game started. You must be honest with yourself here if you really want to verify that
your larger-edge picks really do win extra often. A pick that you treated as MinEdge before the game started but afterward realized had a larger
edge must be counted as a MinEdge pick. Once you have proven to yourself that your larger-edge picks perform well, then you can justify betting more on them. How much more? For
one t

CURRENT SUMMARY:
It’s not fair to wait until a game has
started (or is over) to decide how big an edge you thought you had on a pick. If you think you have a larger edge on a pick, write down that
prediction before the game starts.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Alright, so I'm trying to understand this knowledge card about sports betting. The excerpt talks about the importance of deciding your edge on a bet before the game starts, not waiting until after the


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
If you lose sleep worrying about a bet on a game yet to be played, you have bet
too much no matter what the mathematics say. If losing a bet would change your lifestyle or be a cause for anxiety or depression or worry, then
you should not bet that much no matter what the mathematics say. Suppose that you believe you have discovered a larger-edge pick. Further suppose that any amount you might bet would be small compared
to your total wealth, and that losing the bet would not bother you at all. How much should you bet? Mathematics can come up with an answer only if you can somehow put a value on how good this pick is compared to your MinEdge. The mathematical answer is to divide the bet size by the ratio of your edge on the larger-edge-pick to your MinEdge. Suppose your MinEdge is five perc

CURRENT SUMMARY:
If you lose sleep worrying about a bet on a game yet to be played, you have bet
too much no matter what the mathematics say. If losing a bet would change your lifestyle or be a cause for anxiety or depression or worry, then
you should not bet that much no matter what the mathematics say.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Alright, so I'm trying to understand this knowledge card about sports betting. The excerpt talks about not betting too much if losing the bet would cause significant stress or affect your lifestyle. I


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
Ten divided by five is two, so the
optimal bet size is to bet twice as much on this pick. If your MinWin is $100 and the terms are -110, then on a double-MinEdge pick bet $220 to
win $200. If you want to learn more about optimal bet size and how it applies to gambling games, read the literature of blackjack. When blackjack
players use the expression “optimal bet size,” they mean sizing their bets according to the edge they have on a particular hand with respect to the
size of their bankroll. Another field in which optimal bet size has been extensively researched and written about is the world of finance. Bankroll Size
What is the size of your bankroll for the purpose of betting sports? The definition I prefer is: Your bankroll is the amount that, if lost, would put
you out of the business

CURRENT SUMMARY:
Ten divided by five is two, so the
optimal bet size is to bet twice as much on this pick. If your MinWin is $100 and the terms are -110, then on a double-MinEdge pick bet $220 to
win $200.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Alright, let's tackle this query step by step. The user has provided a detailed thought process of someone trying to understand a sports betting knowledge card excerpt. They've gone through multiple i


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
You might be a millionaire, but if losing $10,000 would cause you to stop betting sports, then your bankroll
for the purpose of sizing sports bets is $10,000. Simultaneous Bets
One problem faced by sports bettors is how to adjust for the risk inherent in making simultaneous bets. You should not put yourself in a
situation where losing all of your bets some weekend will result in your bankroll being wiped out. I could calculate what your bet sizes should be if you gave me enough information. I’d need to know the size of your bankroll, and I’d need
information about every bet you wanted to make simultaneously. The information I would need on each bet is: 1) your edge, and 2) the terms, if
any differ from the standard -110. Normally when you are betting sports you don’t draw up a complete lis

CURRENT SUMMARY:
You might be a millionaire, but if losing $10,000 would cause you to stop betting sports, then your bankroll
for the purpose of sizing sports bets is $10,000. Simultaneous Bets
One problem faced by sports bettors is how to adjust for the risk inherent in making simultaneous bets.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Okay, so I'm trying to understand this knowledge card about sports betting. The excerpt talks about determining your bankroll for sports betting and the challenges of placing simultaneous bets. It say


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
Normally when you are betting sports you don’t draw up a complete list of intended bets before making a single bet. In fact it would not be
practical to do that even if you wanted to, because some of the good bets you discover will not be there waiting for you if you intend to come back
later for them. When you find a juicy situation, typically you must jump on it quickly before someone else notices it and bets it, causing the line to
move against you. Bankroll and MinEdge Determine MinWin
What is needed is a rule of thumb that you can use to choose a MinWin that makes sense in relation to your MinEdge and your bankroll. For a MinEdge of five percent, I suggest a MinWin no larger than 1.5 percent to 2.5 percent of your bankroll. A smaller MinWin than that is
okay, but a larger MinWin could

CURRENT SUMMARY:
Normally when you are betting sports you don’t draw up a complete list of intended bets before making a single bet. In fact it would not be
practical to do that even if you wanted to, because some of the good bets you discover will not be there waiting for you if you intend to come back
later for them.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Alright, so I'm trying to understand this knowledge card about sports betting. The excerpt talks about not drawing up a complete list of intended bets before placing a single bet. It mentions that it'


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
If you choose a MinWin of 1.5 to 2.5 percent of your bankroll, you can make a lot of simultaneous bets before running out of cash. You
seldom will be in the embarrassing position of finding a high-edge prop but being unable to exploit it due to having an empty wallet. With a MinWin of 1.5 to 2.5 percent of your bankroll, a bad weekend can put a serious dent in your bankroll, but it won’t wipe you out. If you have a MinEdge of five percent and follow my advice on MinWin, your MinWin will be around $200 for every $10,000 in your bankroll. Credit
The material presented in this chapter generally is called the Kelly Criterion, and credit for being the first person to publish it goes to John L. His article is listed among the Selected References. What Percent Winners? Winning at sports betting m

CURRENT SUMMARY:
If you choose a MinWin of 1.5 to 2.5 percent of your bankroll, you can make a lot of simultaneous bets before running out of cash. You
seldom will be in the embarrassing position of finding a high-edge prop but being unable to exploit it due to having an empty wallet.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Okay, so I'm looking at this knowledge card about sports betting, and the excerpt talks about choosing a MinWin of 1.5 to 2.5 percent of your bankroll. The main idea seems to be that by setting this M


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
Winning at sports betting means winning a good percentage of the bets you make; you do not have to win every single bet to make money
betting sports. You do have to do better than guessing, because on bets against a spread you generally must risk $110 to try to win $100. If you hit 50 percent winners on bets you make at -110, you will lose at the rate of 4.55 percent. The break-even point for bets at -110 is to hit 52.4 percent winners. Here’s how to figure your percent edge from your win rate, assuming you make bets at -110: Multiply your percentage of winners by 1.91
(which is 21/11), and subtract 100. If you can predict the winner 53.5 percent of the time on bets at -110, you will enjoy a two percent edge. You will be hitting at the rate that

sports-betting pro Fezzik says is often the

CURRENT SUMMARY:
Winning at sports betting means winning a good percentage of the bets you make; you do not have to win every single bet to make money
betting sports. You do have to do better than guessing, because on bets against a spread you generally must risk $110 to try to win $100.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Alright, so I'm trying to understand this knowledge card about sports betting. The excerpt talks about winning at sports betting not requiring winning every single bet, which makes sense because it's


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
If you can pay a better price than -110, you can increase your edge. If you can predict the winner 55 percent of the time on bets at -110, you will enjoy a five percent edge. According to Fezzik, such win rates are
achievable in illiquid markets like overnight lines, totals, and props. You will have approximately the same edge over sportsbooks as those books
enjoy over people who play random hunches at -110. If you can hit 57 percent winners at -110, you will be making almost nine percent return on your money invested in sports bets. A few years
ago 57 percent was an attainable success rate for the best of the pros, but finding great bets has gotten more difficult in recent years. If you can hit 60 percent winners, pinch yourself because you are dreaming. You will occasionally find a bet t

CURRENT SUMMARY:
If you can pay a better price than -110, you can increase your edge. If you can predict the winner 55 percent of the time on bets at -110, you will enjoy a five percent edge.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Alright, so I'm trying to understand this knowledge card about sports betting. The excerpt talks about increasing your edge by paying a better price than -110 and predicting the winner 55% of the time


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
Estimating Your Edge
Much of this book is devoted to figuring out whether you have an edge on a particular bet, and estimating what that edge is. Keep in mind that
whatever number you come up with is only an estimate. Occasionally the linesmaker will know things that you do not know. Therefore your edge
as calculated by the methods of this book is more likely to overstate your actual edge than to understate it. When you are deciding how much to
bet, act as if your edge is less than the amount you have calculated. The Big Concern
The big concern in money management is getting an edge. If you think you are good at picking winners but the truth is you would be better off
throwing darts at a board, then all the discussion above about what percentage of your bankroll to bet does not apply to yo

CURRENT SUMMARY:
Estimating Your Edge
Much of this book is devoted to figuring out whether you have an edge on a particular bet, and estimating what that edge is. Keep in mind that
whatever number you come up with is only an estimate.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Alright, so I'm trying to understand this knowledge card about sports betting. The excerpt talks about estimating your edge and mentions that much of the book is devoted to figuring out whether you ha


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
If you do not pick enough winners to overcome the sportsbook’s vig, then your optimal bet size is zero,
period. Money management cannot win money for a handicapper who can’t pick winners. Sometimes sports bettors who go broke put the blame on poor money management. That’s nonsense. If you lose your bankroll betting sports,
it will be because you do not pick more than 52.4 percent winners. After you start picking winners, then money management can help you grow
wealthier than if you simply made flat bets. Sample Problems
For all of these problems, assume a MinWin of $100 and a MinEdge of five percent. Problem 1
You think a prop meets your MinEdge and the odds are 10:1. How much should you bet? Problem 2
You think a prop meets your MinEdge and the terms are -1200. What is your optimal bet si

CURRENT SUMMARY:
If you do not pick enough winners to overcome the sportsbook’s vig, then your optimal bet size is zero,
period. Money management cannot win money for a handicapper who can’t pick winners.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Alright, so I'm trying to understand this knowledge card about sports betting. The excerpt talks about the importance of picking enough winners to overcome the sportsbook's vig and that money manageme


Question:
You are refining a knowledge card for a sports betting document. Extract the most important information.

EXCERPT:
What is your optimal bet size? Problem 4
You find Minnesota at 50:1 to win the Super Bowl, and you think the odds should be less than half that, so you figure your edge is about 100
percent. That’s twenty times your MinEdge. What is your optimal bet size? Problem 5
The typical two-team parlay pays 13:5. For a MinWin of $100 and a two-team parlay that promises the MinEdge, how much should be
wagered on the two-teamer? Problem 6
The typical three-team parlay pays 6:1. For a MinWin of $100 and a three-team parlay that promises the MinEdge, how much should be
wagered on the three-teamer? Solutions to Sample Problems
These solutions assume a MinWin of $100 and a MinEdge of five percent. Problem 1

You think a prop meets your MinEdge and the odds are 10:1. How much should you bet? Bet 1/10 of th

CURRENT SUMMARY:
What is your optimal bet size? Problem 4
You find Minnesota at 50:1 to win the Super Bowl, and you think the odds should be less than half that, so you figure your edge is about 100
percent.

Provide an improved knowledge card in this exact format:
Summary: <1-2 sentences capturing the main point about sports betting>
Key Points:
- <concise bullet 1>
- <concise bullet 2>
- <concise bullet 3>
Themes: theme1, theme2, theme3

Begin the card now:

Okay, so I'm trying to understand this knowledge card about sports betting. The excerpt talks about determining the optimal bet size and provides two sample problems. It mentions that without a winnin