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N <\/strong>is the sample size (10 in our example) \u03a3<\/strong> is the Sum symbol xi<\/strong> is the mean \u00b5<\/strong> is each result\u2019s difference from the mean<\/p>\n <\/div>\n <\/span>\n <\/div>\n <\/div>\n <\/div>\n <\/div>\n \n
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Why is standard deviation useful for punters?<\/strong><\/div>\n <\/div>\n <\/i>\n <\/label>\n \n
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Punters can use standard deviation to calculate how likely it is that a statistic in sports will differ from the mean, and what the variance is. You can also use it to determine odds, assess volatility and your performance as a punter.<\/p>\n <\/div>\n <\/span>\n <\/div>\n <\/div>\n <\/div>\n <\/div>\n
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What is variance in gambling?<\/strong><\/div>\n <\/div>\n <\/i>\n <\/label>\n \n
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Variance is the unpredictability associated with small sample sizes. A coin has odds of 50% to land on heads or tails. However, over the course of 10 or 100 flips, it will not always be a 50\/50 distribution. Variance is a number that explains how the various possible outcomes of a number of coin flips are distributed.<\/p>\n <\/div>\n <\/span>\n <\/div>\n <\/div>\n <\/div>\n <\/div>\n <\/div>\n <\/div>\n <\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"
As a punter, you are always looking for a way to predict the outcome of a match. In general, a statistical approach will make the most sense. While calculating averages is very important, averages are influenced greatly by outliers (i.e. extreme scores, such as 7 \u2013 0 in football), which are hardly representative of the … Continued<\/a><\/p>\n","protected":false},"author":50,"featured_media":111346,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[579,628],"tags":[],"acf":[],"yoast_head":"\nStandard Deviation & Variance in Betting | Ultimate Guide<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n","yoast_head_json":{"title":"Standard Deviation & Variance in Betting | Ultimate Guide","description":"Standard deviation shows how frequently and by how much results differ from averages. \u2705Here is how you can apply it to your betting strategy \u2705","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/panalo518bet.com\/standard-deviation-in-betting\/","og_locale":"en_GB","og_type":"article","og_title":"Standard Deviation & Variance in Betting | Ultimate Guide","og_description":"Standard deviation shows how frequently and by how much results differ from averages. \u2705Here is how you can apply it to your betting strategy \u2705","og_url":"https:\/\/panalo518bet.com\/standard-deviation-in-betting\/","og_site_name":"panalo518bet.com","article_published_time":"2020-04-23T16:40:02+00:00","article_modified_time":"2024-11-13T10:00:54+00:00","og_image":[{"width":1200,"height":628,"url":"https:\/\/panalo518bet.com\/app\/uploads\/2021\/09\/tpp-finance-featured-image.jpg","type":"image\/jpeg"}],"author":"James Cormack","twitter_card":"summary_large_image","twitter_creator":"@jamescormack_","twitter_site":"@thepunterspage","twitter_misc":{"Written by":"James Cormack","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/panalo518bet.com\/standard-deviation-in-betting\/","url":"https:\/\/panalo518bet.com\/standard-deviation-in-betting\/","name":"Standard Deviation & Variance in Betting | Ultimate Guide","isPartOf":{"@id":"https:\/\/panalo518bet.com\/#website"},"datePublished":"2020-04-23T16:40:02+00:00","dateModified":"2024-11-13T10:00:54+00:00","author":{"@id":"https:\/\/panalo518bet.com\/#\/schema\/person\/4d4488f87510150e27678d8bc596f2f0"},"description":"Standard deviation shows how frequently and by how much results differ from averages. \u2705Here is how you can apply it to your betting strategy \u2705","breadcrumb":{"@id":"https:\/\/panalo518bet.com\/standard-deviation-in-betting\/#breadcrumb"},"inLanguage":"en-GB","potentialAction":[{"@type":"ReadAction","target":["https:\/\/panalo518bet.com\/standard-deviation-in-betting\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/panalo518bet.com\/standard-deviation-in-betting\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/panalo518bet.com\/"},{"@type":"ListItem","position":2,"name":"Strategy","item":"https:\/\/panalo518bet.com\/category\/strategy\/"},{"@type":"ListItem","position":3,"name":"Standard Deviation and Variance in betting"}]},{"@type":"WebSite","@id":"https:\/\/panalo518bet.com\/#website","url":"https:\/\/panalo518bet.com\/","name":"panalo518bet.com","description":"Your Go-To Site For All Things Betting","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/panalo518bet.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-GB"},{"@type":"Person","@id":"https:\/\/panalo518bet.com\/#\/schema\/person\/4d4488f87510150e27678d8bc596f2f0","name":"James Cormack","image":{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/panalo518bet.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/f048a88b6873603dee5f9a935b00c412?s=96&d=wp_user_avatar&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/f048a88b6873603dee5f9a935b00c412?s=96&d=wp_user_avatar&r=g","caption":"James Cormack"},"description":"Big sports fan specialising in football. 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