In most articles it suggest that betting lower average odds decreases variance. I always assumed this was correct but after reading a comment made in the sports betting forum where someone asked
Quote:
Originally Posted by capperchris1
Define low risk betting?
To which someone replied to bet lower average odds
Quote:
Originally Posted by MisterRodriguez
Low volatility,
-lower avg odds
- more volume(number of bets)
-and optimal Br% allocation per bet recommended by the tout all contribute to that
And then another reply contradicted that
Quote:
Originally Posted by Mihkel05
Low average odds actually have higher variance. Lets stop pretending edge is fixed and set for median BR growth.
I'm interested if someone could please explain why betting lower average odds has higher variance?